433 Hackensack Avenue • Level L
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Patient Access Solutions Inc. Updates Shareholders
Company Adjusts Outlook for 2011 Upward
HAUPPAUGE, N.Y., Nov. 3, 2010 /PRNewswire-FirstCall/ -- Patient Access Solutions, Inc. (Pink Sheets:PASO.pk - News), a provider of healthcare technology and financial processing solutions for the healthcare and home care industry has recently executed agreements with new channels and has adjusted its 2011 income projections upward as follows:
The company's recent announcement with Sandata, a market leading solutions provider for the home healthcare industry exposes over 100,000 potential users of the company's Mobipen System. An extremely conservative business case of 7.5% market penetration provides gross annual revenue estimates of $4.9MM. All product market surveys represent a higher level of adoption.
Patient Access Solutions made an announcement with Imedicor on August 16, 2010. Jointly the partnership has developed an opportunity that will provide income outside of the previously announced $1MM and has adjusted the total estimated channel revenue to $4.3MM over the next 3 years with $600k per year of recurring revenue.
Finally, the company's investment in the petroleum remediation company is expected to provide additional revenues in excess of $1.5MM over the initial first year of the agreement.
"We are continually focused on working and developing our sales pipeline to build PAS in all aspects of our core business." Stated Bruce Weitzberg CEO, Patient Access Solutions Inc., "These contracts will provide both growth within established business segments as well as vertical opportunities for the company in other industries."
About Patient Access Solutions, Inc.
Patient Access Solutions, Inc. (PAS) is a Healthcare Solutions Company which has created a formidable array of technology, resources and allies to enable it to become an agent of radical change in what has traditionally been a slowly evolving healthcare information technology environment. The Company's products are designed to allow health care providers an easy migration to the EMR environment. Among these products are D-PAS, which is a state-of-the-art digital pen and paper technology based on Anoto technology, used to capture hand written information into digital forms and EMR systems and PAS Data Center, which is a terminal solution that allows health care providers to quickly and easily determined benefit eligibility. More information on Patient Access Solutions, Inc. and its products can be viewed at www.pashealth.com.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Patient Access Solutions Inc. Securities and Exchange Commission filings available at http://www.sec.gov.
Bruce Weitzberg, Patient Access Solutions Inc., firstname.lastname@example.org