Acute and Critical Care Facilities
Although there has been a decline in the number of hospitals that provide acute care services in the United States, there are an estimated 5,200 medical facilities.
The total numbers of acute care facilities and out-patient surgery centers have increased annually.
Assisted Living Facilities:
There are approximately 33,000 Assisted Living Facilities operating in the U.S. today. Nursing home spending is expected to grow 6.6 percent each year by 2018.
Hospitals and Medical Institutions
There are over 5,000 hospitals in the U.S. That’s approximately 1,000,000 beds. Although the short-term outlook for hospitals is mixed,
a common theme is to reduce the total cost of care, improve efficiencies and allow patients to remain in their home with home based care as long as possible.
In fiscal year 2008, the Department of Veterans Affairs (VA) spent about $4.1 billion on long-term care for veterans.
The VA estimated a budget increase of 165% between fiscal years 2008 and 2015 for institutional and non-institutional care.
Home Medical Care Industry
It is estimated that in 2010 there were over 30,000 home health care facilities in the United States.
Home health care spending is projected to grow an average of 7.9 percent from 2013 to 2018.
Respiratory Therapy- Physical/Occupational Therapy Centers
There are well over 5,000 physical therapy facilities throughout the United States.
The demand for physical therapists is expected to grow by 30% over the next decade.
1995 – Company was originally formed.
2000 – Business name change to Best-Net Communications Corp to reflect telecommunications business.
2006, July – Acquired Oncologix Corporation to develop a microsphere medical device to treat liver/cancer tumors. Started Phase I - FDA approval process.
2007, January – Changed name to Oncologix Tech, Inc. to reflect shift to medical device industry.
2007, February – Disposed of BestNet telecommunications business due to lack of profitability.
2007, December – Suspended Microsphere device development activities due to patent rejection.
2008-2012 – Continued work with German partners with development of Microsphere.
2013, March – Acquired Dotolo Research Corporation, Medical Device company - $1.5MM in revenues.
2013, August – Acquired Angels of Mercy, Inc., Healthcare Service company - $2.9MM in revenues.
2013, November – Disposed of Oncologix Corporation, obtained debt relief in process.
2013, December – Acquired Amian Health Services - $1.1MM in revenues.
2014, January – Received $4.0MM asset-based, line of credit revolver - TCA Global Fund.
2014, July – Formed Medical Products & Technology Division.
2014, July – Hired Harold Halman, President/COO-Medical Products & Technology Division.
2014, September – Acquired Esteemcare & Affordable Medical - $2.0MM in annual revenues.
2015, June – Hired Nikole Jessie, Director of Marketing and Public Relations.
2016, November – Michael Kramarz became Chairman/CEO.