Company Profile
As the only licensed Part B provider of Medicare reimbursable products focused on the Hispanic market, MEDirect Latino's primary competitors are local pharmacies which typically have less than 1000-1500 clients. The Company's advantage over local pharmacy providers is that these local competitors do not accept Assignment under Medicare Part B and instead require the customer to pay full retail price for their products up front and file for the Medicare reimbursable amount (80%) themselves.
MEDirect Latino Inc. Announces Board Changes
POMPANO BEACH, Fla., June 29, 2007 (PRIME NEWSWIRE) -- MEDirect Latino Inc. (Pink Sheets:MLTO), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced changes to the board of directors.
Mr. Ruben Jose King-Shaw Jr. has resigned as Chairman and member of the Board of Directors effective immediately. Mr. Robert Webb, an independent director of MEDirect Latino, has been appointed the new Chairman to fill the vacancy created by Mr. King-Shaw's resignation. In announcing the resignation MEDirect Latino's new board Chairman Mr. Robert Webb stated, "On behalf of MEDirect Latino, I would like to express my appreciation to Mr. Ruben King-Shaw, Jr. for his guidance and board leadership."
ABOUT MEDIRECT LATINO:
MEDirect Latino, Inc. 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.
MEDirect Latino Initiates System Migration, Creates Greater Customer Service Efficiencies
Company Achieves Record Reorder Revenue for May Period POMPANO BEACH, Fla., June 5, 2007 (PRIME NEWSWIRE) -- MEDirect Latino Inc. (Pink Sheets:MLTO), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced the Company is in the final stages of its migration to a superior customer service software operating platform with proprietary features for customer tracking, forecasting, service, medical billing and collections. The proprietary platform includes electronic processing of medical verifications, eligibility and medical billing which will substantially reduce Medicare's reimbursement payment cycles (DSO), while increasing the percentage of collectables.
The Company anticipates that the migration will be fully implemented during the next 90 days, which equates to one customer reimbursement cycle. The migration includes secondary customer data and compliance integrity controls to insure the highest levels of regulatory guidelines are maintained, as MEDirect Latino is undergoing accreditation by The Joint Commission (formerly JCAHO). Accreditation is a requirement to participate in the upcoming Medicare (CMS) Competitive Acquisition Program (CAP). The Company anticipates receiving final accreditation by August 31, 2007, thereby allowing the Company to compete in the CAP.
The Company has realized immediate efficiencies in the man hours required to process both new and reorder customers. The Company reduced staff 24% during the month due the implementation of the technology, while processing a record reorder cycle of 4,976 customers, including 5,573 transactions, corresponding to gross 'reorder' revenue of $1,109,120 during the May period.
The migration, when fully implemented, is expected to reduce the overall costs to the Company for customer handling by 28%, a key driver in reaching profitability. The Company estimates that annual cost savings on staff and support services will exceed $800,000, which will directly increase net income. The Company will continue to pursue additional electronic efficiencies and reposition staff as necessary. Upon completion of the system integration, the Company will be further positioned to handle the customer response, in the most cost effective manner, to the planned media campaigns featuring celebrity spokespersons, Ms. Rita Moreno and Mr. Chi Chi Rodriquez.
MEDirect Latino (Pink Sheets:MLTO) 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.
Photo Release -- Juan A. 'Chi Chi' Rodriguez Joins MEDirect Latino as Corporate Spokesperson
POMPANO BEACH, Fla., May 3, 2007 (PRIME NEWSWIRE) -- MEDirect Latino Inc. (Pink Sheets:MLTO), the first national provider of direct-to-consumer Medicare reimbursed medical products focused exclusively on chronic diseases afflicting the Hispanic community, today announced the signing of Juan A. 'Chi Chi' Rodriguez, one of the greatest showmen in sports history, with a career that spans four decades and includes 8 PGA Tour wins and 22 Senior Tour victories, to an exclusive worldwide multi-year celebrity endorsement agreement to promote the Company's healthcare products and services.
"In completing our agreement with Mr. Rodriguez, we continue to execute our mission to reach the total Latino American market, with special attention to Puerto Rico, where Chi Chi was born and continues to reside," stated COO, Mr. Charles Hansen. "Chi Chi's commitment to good health is obvious when you meet him. Through his actions he has demonstrated his desire to make a difference by encouraging the proper management of diabetes among the senior population."
Commenting on joining MEDirect Latino, Chi Chi stated, "I am looking forward to working with MEDirect Latino in helping the Hispanic community, not only in Puerto Rico and the United States, but worldwide. It is my hope that with their assistance, we can significantly reduce the pain and frustration my fellow Hispanics have in dealing effectively with chronic diseases."
Further stated Mr. Hansen, "Chi Chi, along with Rita Moreno, who we recently announced as one of our corporate spokespersons, are two of the most recognized and trusted talents in the Hispanic culture. Coupling their endorsement of our products, with their passion to effect change within the community, provides us with a powerful platform to brand MEDirect Latino synonymously with good health. Our celebrity endorsement plan, featuring such recognized icons, will also pave our entrance into the general Anglo market."
Mr. Rodriguez became the first Puerto Rican to be inducted into the World Golf Hall of Fame and as spokesperson, he will be featured in MEDirect Latino's marketing and branding plan, including a network television advertising campaign, radio and print programs and healthcare vignettes with key advertising partners to create awareness among the Latino and general market, targeting Medicare beneficiaries.
According to the U.S. Department of Health and Human Services, Administration on Aging the Hispanic older population was 2.2 million in 2004 and is projected to grow to over 15 million by 2050. By 2028, the Hispanic population aged 65 and older is projected to be the largest racial/ethnic minority in this age group.
About MEDirect Latino:
MEDirect Latino (Pink Sheets:MLTO) 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.
Stock Quote
MEDirect Latino, Inc. (MLTO) |
0.85 (07/06/2007)
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|
Change |
-0.05 |
Exchange |
Pink Sheets |
% Change |
-5.5556% |
Previous Close |
0.90 |
Open |
0.90 |
Volume |
12,012 |
|
Bid |
0.00 |
Ask |
0.00 |
Shares Outstanding |
17,582,000 |
Current Day's High |
1.00 |
Market Cap |
14.94M |
Current Day's Low |
0.83 |
P/E Ratio |
N/A |
52 Week Range |
0.50 - 4.00 |
Market data 15 minutes delayed. Provided by EDGAR Online. |
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