Millennium HealthCare, Inc. (MHCC) Inks Network Selling Deal with Large Practice Network

Millennium HealthCare, a provider of primary care physician practices, physician groups, and healthcare facilities, reports that its subsidiary, Millennium Medical Devices LLC, has signed a network selling agreement with a U.S.-based healthcare organization for the use of its medical devices in 200 of the organization’s locations. This agreement includes an average monthly minimum use of 350 units per location.

The agreement includes the use of the Millennium Medical Devices’ exclusive distribution rights for the VasoScan cardiovascular assessment test device, an FDA-cleared, non-invasive device that provides a reproducible assessment of arterial elasticity and stiffness to determine plaque levels in the arterial walls. Millennium Medical Devices has exclusive rights to market and distribute VasoScan in the United States.

The deal also includes the use of the company’s exclusive distribution rights for the OralCDx Brush Biopsy Test Kit, a non-invasive test that is used to test the small white and red tissue spots commonly found in the mouth to rule out precancerous change. The test has already resulted in the prevention of thousands of oral cancers. Through the exclusive distribution agreement with Millennium Medical Devices, primary care physicians will now be able to easily administer this test to their patients.

“Being able to detect disease for early intervention could potentially help the over 800,000 people alone (according to the CDC) who die annually from cardiovascular disease in the United States,” said Dominick Sartorio, CEO of Millennium. “There are over 250,000 primary care physicians in the United States who could utilize these tests in their practices. We anticipate that a majority of the 200 locations under contract will be operational within the next 12 months and we will continue to introduce VasoScan and OralCDx as quickly as we can utilizing the contracted model. We feel that this sales model can assist investors in easily understanding the opportunities we have through these exclusive distribution relationships. Based on the minimum contracted amounts within this one agreement, Millennium can be in a position to potentially exceed $100 million in revenues annually.”

For more information, visit www.millenniumhcs.com

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