COLLEYVILLE, TX--(Marketwire - March 25, 2009) - digiMedical Solutions, Inc.™
(
PINKSHEETS:
DGMS), today released a Letter to Shareholders from Company
CEO David Lee. The letter provides an operational update on the Company's
proprietary digital prescription software suite and increased sales
channels. The letter is included in its entirety below.
Separately, the Company recently launched a new interactive corporate
website. The new site,
www.digimedical.com, offers doctors, patients,
pharmacists and investors a clear view of the company's technology, service
offerings and current news and events. Utilizing the latest Microsoft
technologies such as .NET, AJAX and Microsoft SQL, the Company has
developed a suite of products to digitally manage the prescription process.
The company's products comply with all HIPAA and DEA requirements for
patient medical record security.
Dear Fellow Shareholders,
We recently launched our new corporate website, detailing our proprietary
digital prescription software. Now, I would like to take this opportunity
to communicate further updates on company developments over the past months
to our shareholders. In this letter, I plan to also discuss our
year-to-date progress and our plans for the remainder of 2009, taking into
perspective the global economic crisis. Though this economic environment
is remarkable, I am confident that digiMedical can not only weather the
'economic storm,' but also prosper from it. There has been a lot of news
and renewed focus on small business and its historical role in leading the
nation out of past recessions. This trend may be due to a variety of
factors, including entrepreneurial spirit, lack of dependence on
institutional financing and credit lines, the business agility that comes
with a smaller organization or the innovation you find in small business.
Operational Update
Last year, digiMedical shifted its focus to a high margin software revenue
model and, accordingly, eliminated high overhead operations. The Company
sold its 'brick and mortar' pharmacy chain to reduce the significant
overhead costs associated with that part of our business. At the same
time, the Company retained ownership of its proprietary digital
prescription management suite of software and continued to grow the
software user base, both on the prescription origination end, namely
clinics and doctors' offices, and on the prescription fulfillment end,
namely the pharmacies. Though the Company no longer owns its own
pharmacies, the company continues to roll out its software to pharmacies in
a purely software driven revenue model. Finally, the Company maintains its
prescription reauthorization call center to support its user base. This
change in Company focus has reduced Company operating overhead and
increased sales margins, while maintaining its proprietary software assets.
New Developments
As we focus on our software revenue model, we are not only continuing to
sign on new doctors and pharmacies, we are also developing relationships
with companies to allow them to private label our software. These
relationships are designed to quickly increase our sales channels and
associated transaction revenue. As these relationships progress, will plan
to issue further updates and details to our shareholders.
In addition to our increased sales strategy, we are continuing to improve
our software suite to meet and exceed digital prescription handling
security and data standards. Specifically, we are currently working to
update our digiRX product to be "Surescript" compatible. Our software
already meets all DEA and HIPAA standards.
Summary
I want to extend special thanks to all who have supported digiMedical
throughout our development and these troubling economic times. By reducing
our operational overhead, shifting to a high margin revenue model and
focusing on increasing our sales channels, we feel we are on track to
become a leader in the digital prescription industry during a time when
lower cost, higher service health care is being called for.
Best Regards,
David Lee
CEO, digiMedical Solutions, Inc.
To be added to digiMedical's corporate e-mail list to receive company
updates, please send an e-mail to
ir@digimedical.com.
About digiMedical Solutions, Inc.™ (
www.digiMedical.com)
digiMedical Solutions, Inc.™ is a pharmacy and medical technology
company focused on developing next generation, digital medical technology
with an emphasis on digital prescriptions (d-Prescriptions) that closely
align the doctor, pharmacist and patient. The company's planned growth will
come from three channels: direct marketing of the company's wireless based
d-prescription technology to physicians, direct marketing of the company's
digital call center services for refills and reauthorization and partnering
with independent pharmacy chains to focus sales with the technology suite.
Forward-Looking Statement
Statements included in this press release which are not historical in
nature, are intended to be, and are hereby identified as "Forward-Looking
Statements" for purposes of safe harbor provided by Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-Looking Statements may
be identified by words including "anticipate," "await," "envision,"
"foresee," "aim at," "believe," "intends," "estimates" including without
limitation, those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual results
to differ materially from those indicated in the Forward-Looking
Statements. Readers are directed to the company's filings with the U.S.
Securities and Exchange Commission.
Contact Information: Contact:
digiMedical Solutions, Inc.
Investor Relations
214-722-3029
ir@digimedical.com
www.digimedical.com