SurgLine International, Inc. Signs Three Year Agreement To Supply California Management Company Its Low Cost Spinal Implants
WEST PALM BEACH, Fla., May 14, 2012 /PRNewswire/ -- SurgLine International, Inc. (SGLN.PK)
Thomas Toland, CEO of SGLN and SurgLine, Inc. ("SurgLine") announced today it has signed an agreement with MedNPV, LLC ("MedNPV"), a well-established management company and surgical group operator with business throughout the state of California. The agreement between the parties will permit SurgLine to supply its' low cost spinal orthopedic implants. Based upon MedNPV's current business they are forecasting up to 40 monthly surgeries.
"We are pleased to announce today that we will be working with a MedNPV to replace a competitor's higher cost product offering with our lower priced offering for spinal orthopedic implants," stated Mr. Toland. "Together, we are focused on delivering more value for the end users with excellent quality products with lower costs. Based on the current mix of surgeries, the three year agreement is expected to generate $100,000 in monthly sales. This agreement underscores that we are progressing in our business plan and making significant strides in our market penetration."
"As healthcare costs become increasingly more cost prohibitive for insurance companies and the self-insured employers, our client was looking to provide a solution for prospective surgical cost containment," said Senior Managing Director of MedNPV, I. Shone Clark.
About SurgLine, Inc.
SurgLine (www.surgline.com) sources and distributes high quality FDA approved medical and surgical products at discount prices, thereby reducing or eliminating the historical brand premium paid by healthcare providers including acute care hospitals, surgery centers, surgical hospital, self-insured employers and insurance companies. SurgLine offers high quality medical and surgical supplies and products at substantial savings utilizing stocking distributors and institutional buyers by sourcing products globally without the historical brand premium and industry markup.
About SurgLine International, Inc.
SurgLine International, Inc. is a holding company that in addition to SurgLine, wholly owns Nuvo Solar Energy, Inc., a development stage company that owns unique patent pending solar and photovoltaic related technology. The Company is also seeking other business opportunities.
About MedNPV, LLC
MedNPV provides national healthcare finance solutions by converting lien-secured receivables to cash in the Workers' Compensation industry. This process is achieved by purchasing the accounts receivables at a significant discount of the providers usual and customary reimbursement rates.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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