Pain Recovery Center of Tyler Texas, headed by Dr. Kenneth Fults, Interventional Pain Management Specialist, has become Spine Pain Management's Newest Spine Diagnostic Affiliate. Quad Video HALO (QVH) in final stage of testing for UL certification1 and the CE mark.2
HOUSTON, June 26, 2015 (GLOBE NEWSWIRE) -- Spine Pain Management, Inc. (OTCQB:SPIN), a technology-driven, medical service, device and healthcare solution company servicing the multi-billion dollar spine injury sector, today announced the addition of Pain Recovery Center of Tyler Texas (PRCIT) as a new Diagnostic Affiliate. In the heart of the East Texas oil and industrial areas, with demographics very similar to our successful Midland-Odessa affiliate, it is a prime area for expansion. A second new Affiliate is in closing stage and is expected to be finalized in July.
Additionally, as discussed on the May 13, Q1 Investors Conference Call, the delivery of the first eight of SPIN's proprietary "final" Version 3 Quad Video HALO units were received on time the second week of June. Commensurate with the delivery, all documents were completed and a unit with documentation was sent for testing for UL certification and the CE mark. The first 3rd party sales/leasing transactions are expected in Q3.
Dr. William Donovan, Chairman/CEO stated: "Dr. Fults and his successful East Texas Interventional Pain practice joining our program is another example of the 'drawing power' of our QVH in attracting the highest quality Affiliates. Dr. Fults became aware of both the QVH and our Affiliate program through a referral from our Midland-Odessa center. On the last Conference Call, I mentioned that we had Non-Disclosure Agreements with three prospective Affiliates; that number has now grown to four giving us the luxury to be very selective in both timing and quality of new Affiliates. I expect another new Affiliate to be announced shortly."
Dr. Donovan went on to say: "As mentioned above, we are anticipating the final version of QVH v.3 for third party sales/leasing will be released within the next two weeks." In addition, Dr. Donovan went on to say, "On June 11, 2015, we filed US Patent application No. 14/736,438, which is a continuation application of US Patent application No. 13/723,372, with additional new claims. HALO has also been approved, on a trial basis, by a prominent teaching hospital in the Midwest to not only record special types of surgery cases, but also by interventional pain doctors for spine injections cases."
About Pain Recovery Center of Tyler Texas
To learn more, visit their website; http://www.tyler-recoverfrompain.com/index.html
About Spine Pain Management, Inc:
We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our care management services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment. We believe that our services and technology brings strong transparency and impartiality to all parties involved in the settlement of patient cases.
Additional information about the company, along with a video of our last Conference Call, can be found at its website at www.spinepaininc.com.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.
1 UL and the UL logo are trademarks of UL LLC.
2 The CE mark indicates that the product meets the requirements of European Union ("EU") directives or EU regulations and it therefore may be traded freely within the European Economic Area.