HOUSTON, Sept. 20, 2013 (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, through its Chairman/CEO, Dr. William Donovan today announced the official launch of a second revenue source through "outside" commercial sales of its internally developed Quad Video Halo™ System (QVH). The QVH was originally developed specifically for internal use by affiliate centers as a value added feature to enhance transparency in case development. However, due in part to early interest with the legal community, the company has recently been solicited by third party medical device rep companies interested in promoting the QVH to outside medical facilities nationwide. On September 19, the company engaged Joe Foley to initiate an outside sales campaign. Mr. Foley is the Managing Partner of Leading Edge Medical Partners and a marketing expert with a 40 year background in both radiology and marketing.
The Quad Video Halo
The Quad Video HALO System™ V.3.0, is a patent pending technology that features a fully branded, streamlined design that simultaneously offers electronic integration and improved adaptability across both old and new fluoroscopic guidance systems (radiology units used by specialists during procedures). The HALO 3.0 is an aftermarket system of both hardware and software along with a device that securely clamps to these radiological systems. In addition to the mounting device, the system is made up of three high resolution cameras and software integration with the fluoroscopic real-time x-ray feed from the fluoroscope to capture close up views of procedures/surgeries just above the sterile environment. As the medical procedure is being delivered, the software compiles the three cameras and fluoroscopic output into a single four view evidentiary ready, tamper proof DVD.
http://www.youtube.com/watch?v=YS0VZq0et1E
Background of the QVH
The company purchased the original beta version of the QVH from one of its affiliates who developed the system as a value added feature to attract more patients to its affiliated centers. The advantages were quickly recognized by the company as worthy of inclusion in all of its affiliated centers. The primary advantages being: 1) patients receiving injections inherently feel more comfortable knowing their procedure is being videotaped; 2) doctors are more apt to refer patients knowing they will have the tamper-proof video of the procedure to provide transparency with the surgical procedures; 3) case settlements should accelerate as defendants' liability insurer would likely be more inclined to settle a case sooner, knowing there is a video of the procedure which could be viewed by a jury should a case go to trial.
As principle marketer and distributor, Joe Foley will represent the product to the medical community both directly and through various medical specialty expos. Mr. Foley commented, "Based upon my 40+ years of experience in medical imaging, I immediately recognized that the QVH HALO 3.0, is a game changer in that it offers a new level of transparency in documenting patient care. The applications for this technology are diverse, including: as a training tool in teaching hospitals; offering quality control in high risk medical and surgical procedures; as well as delivering transparency to the pain management industry. I'm excited to formally launch the QVH HALO 3.0 technology at the upcoming Radiological Society of North America (RSNA) conference Dec. 1st-6th in Chicago."
Dr. Donovan added, "We first met Joe in early August when he came to us after having read about our QVH. Having already recently discussed QVH with reps from larger companies, I was amazed at how well he already understood the market that we envisioned. Since that time, he has developed a very impressive marketing plan which sealed our decision in going with him." Dr. Donovan went on to say, "While we have been very successful in using the QVH in all our affiliate centers, we believe Joe's confidence in the effectiveness of the QVH System is due in part to our very successful pairing of the QVH with our Continued Legal Education (CLE) programs in the launch our newest affiliated center in San Antonio Texas earlier this year. Due to this affiliate's use of the QVH since day one, we have been able to get a pure view of its effectiveness."
About Spine Pain Management, Inc:
We are a medical services and technology company facilitating diagnostic services by affiliated doctors 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 financial 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 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.