PLANTATION, Fla., May 10, 2006 (PRIMEZONE) -- MEDirect Latino Inc. (Pink Sheets:MLTO) (www.medirectlatino.org), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced record results for April 2006 in gross billings and new patient shipments. MEDirect Latino reports gross billings of $1,150,413 during the month, a 14.71% increase over March billings of $1,002,391. The Company's gross product profit margins remained unchanged at 78%. Total new patient shipments for April numbered 5,411, an increase of 22.39% over March shipments of 4,421. The Company's 'patient hold journal' (approved and pending shipment for regulatory processing), closed the month with 6,158 additional customer orders, an increase of 18.35% over March 5,203 patient hold journal. MEDirect Latino expects to monetize its approved and pending patient orders in May, which is typical to the Company's model.
Ms. Debra Towsley, President, MEDirect Latino stated, "The Company eclipsed a milestone in Medicare billings for March having surpassed the million dollar mark in billings and we continue to beat our own revenue records each month. We are looking forward to relocating to our new facility, which is 24,000 square feet and is four times the size of our current space. With the move, the Company will be able to accelerate our revenue generation, and introduce new extensions of our products and services that will include non-Medicare, retail sales and pharmacy operations."
ABOUT MEDIRECT LATINO:
MEDirect Latino (Pink Sheets:MLTO) (www.medirectlatino.org) is the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community. MEDirect Latino is rapidly growing and uniquely positioned to service the Hispanic community in the United States and Puerto Rico. MEDirect is the only company currently positioned to serve the U.S. Hispanic healthcare market as a direct-to-consumer Medicare provider on an authentically national level. The Company's current focus is the distribution of products for the treatment of Type II diabetes specifically due to the disproportionate impact and increasing diagnosis rate of diabetes within the U.S. Hispanic population, noting an incidence of 120% higher than among non-Hispanic whites. Type II diabetes was targeted because of its unique status within the Medicare reimbursement regime and due to its high degree of correlation to other chronic conditions such as high blood pressure and heart disease. These and other conditions represent considerable future market potential, MEDirect will scale its model by leveraging its existing client base and infrastructure in introducing new products and services to existing customers as they are identified.
The MEDirect Latino Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=1873
Safe Harbor Disclosure:
This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.