POMPANO BEACH, Fla., July 11, 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 June 2006 in gross billings and new patient shipments. MEDirect Latino reports gross billings of $1,542,853 during the month, a 19.15% increase over May billings of $1,294,852. The Company's gross product profit margins increased 3% to 81%. Total new patient shipments for June numbered 7,953, an increase of 22.10% over May shipments of 6,499. The Company's 'patient hold journal' (approved and pending shipment for regulatory processing), closed the month with 8,556 additional customer orders, an increase of 12.6% over the May patient hold journal of 7,599. MEDirect Latino expects to monetize its approved and pending patient orders in July, which is typical to the Company's model.
Ms. Debra Towsley, President/CEO, stated, "We are very pleased with our record June revenue and new patient orders. Our mission of developing the largest database of Medicare eligible Hispanics in the nation is well underway. We anticipate double digit month on month revenue increases to continue." Further, stated Ms. Towsley, "Based on our planned application for listing on the Over the Counter Bulletin Board (OTC), during the next quarter, the Company will begin providing the more traditionally accepted method of reporting our results quarterly. As such, MEDirect Latino will no longer report monthly results."
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. 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.
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.
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