digiMedical Solutions, Inc.(TM) Releases Letter to Shareholders Discussing Digital Prescription Software, Increased Sales Channe
25 Mars 2009 - 2:00PM
Marketwired
digiMedical Solutions, Inc.(TM) (PINKSHEETS: DGMS), today released
a Letter to Shareholders from Company CEO David Lee. The letter
provides an operational update on the Company's proprietary digital
prescription software suite and increased sales channels. The
letter is included in its entirety below.
Separately, the Company recently launched a new interactive
corporate website. The new site, www.digimedical.com, offers
doctors, patients, pharmacists and investors a clear view of the
company's technology, service offerings and current news and
events. Utilizing the latest Microsoft technologies such as .NET,
AJAX and Microsoft SQL, the Company has developed a suite of
products to digitally manage the prescription process. The
company's products comply with all HIPAA and DEA requirements for
patient medical record security.
Dear Fellow Shareholders,
We recently launched our new corporate website, detailing our
proprietary digital prescription software. Now, I would like to
take this opportunity to communicate further updates on company
developments over the past months to our shareholders. In this
letter, I plan to also discuss our year-to-date progress and our
plans for the remainder of 2009, taking into perspective the global
economic crisis. Though this economic environment is remarkable, I
am confident that digiMedical can not only weather the 'economic
storm,' but also prosper from it. There has been a lot of news and
renewed focus on small business and its historical role in leading
the nation out of past recessions. This trend may be due to a
variety of factors, including entrepreneurial spirit, lack of
dependence on institutional financing and credit lines, the
business agility that comes with a smaller organization or the
innovation you find in small business.
Operational Update
Last year, digiMedical shifted its focus to a high margin
software revenue model and, accordingly, eliminated high overhead
operations. The Company sold its 'brick and mortar' pharmacy chain
to reduce the significant overhead costs associated with that part
of our business. At the same time, the Company retained ownership
of its proprietary digital prescription management suite of
software and continued to grow the software user base, both on the
prescription origination end, namely clinics and doctors' offices,
and on the prescription fulfillment end, namely the pharmacies.
Though the Company no longer owns its own pharmacies, the company
continues to roll out its software to pharmacies in a purely
software driven revenue model. Finally, the Company maintains its
prescription reauthorization call center to support its user base.
This change in Company focus has reduced Company operating overhead
and increased sales margins, while maintaining its proprietary
software assets.
New Developments
As we focus on our software revenue model, we are not only
continuing to sign on new doctors and pharmacies, we are also
developing relationships with companies to allow them to private
label our software. These relationships are designed to quickly
increase our sales channels and associated transaction revenue. As
these relationships progress, will plan to issue further updates
and details to our shareholders.
In addition to our increased sales strategy, we are continuing
to improve our software suite to meet and exceed digital
prescription handling security and data standards. Specifically, we
are currently working to update our digiRX product to be
"Surescript" compatible. Our software already meets all DEA and
HIPAA standards.
Summary
I want to extend special thanks to all who have supported
digiMedical throughout our development and these troubling economic
times. By reducing our operational overhead, shifting to a high
margin revenue model and focusing on increasing our sales channels,
we feel we are on track to become a leader in the digital
prescription industry during a time when lower cost, higher service
health care is being called for.
Best Regards,
David Lee
CEO, digiMedical Solutions, Inc.
To be added to digiMedical's corporate e-mail list to receive
company updates, please send an e-mail to ir@digimedical.com.
About digiMedical Solutions, Inc.(TM) (www.digiMedical.com)
digiMedical Solutions, Inc.(TM) is a pharmacy and medical
technology company focused on developing next generation, digital
medical technology with an emphasis on digital prescriptions
(d-Prescriptions) that closely align the doctor, pharmacist and
patient. The company's planned growth will come from three
channels: direct marketing of the company's wireless based
d-prescription technology to physicians, direct marketing of the
company's digital call center services for refills and
reauthorization and partnering with independent pharmacy chains to
focus sales with the technology suite.
Forward-Looking Statement
Statements included in this press release which are not
historical in nature, are intended to be, and are hereby identified
as "Forward-Looking Statements" for purposes of safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-Looking Statements may be identified by words
including "anticipate," "await," "envision," "foresee," "aim at,"
"believe," "intends," "estimates" including without limitation,
those relating to the company's future business prospects, are
subject to certain risks and uncertainties that could cause actual
results to differ materially from those indicated in the
Forward-Looking Statements. Readers are directed to the company's
filings with the U.S. Securities and Exchange Commission.
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Contact: digiMedical Solutions, Inc. Investor Relations
214-722-3029 ir@digimedical.com www.digimedical.com
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