Medify Solutions Limited (Pink Sheets MFYS) explains the sales potential for UK Remote access market
Wednesday August 2, 10:00 am ET
GATESHEAD, UK, Aug. 2 /PRNewswire-FirstCall/ - On the 1st September 2006, Medify Solutions Limited will roll out its 'remote access to patient notes' product, MedifyRemote, to its National Health Service (NHS) customers. The first NHS site, as published previously, will be in Doncaster in the north of England.
This site is leading the way for the rest of the UK in terms of development and user testing of the powerful Medify Remote live product, which will bring many benefits for patients and users in terms of greater efficiency and more accurate transfer of information.
Operating through its N3 approved secure connection to the NHS patient database; Medify will begin the roll out to its live NHS customers. This will be coordinated through corporate partners who are providing the patient record software and airtime connection to the NHS.
The sales potential for Medify Remote is significant. For ease of understanding, the product will be offered to the customer at a monthly charge in the region of $85 per month. In the UK there are over 500 000 healthcare professionals, the primary target user. Thus the market for Medify in the UK alone is $510m per annum (85 x 500 000 x 12).
Therefore for every 1% market penetration, the revenue for Medify is $5.1m per annum.
Medify has the approved connection to NHS' N3, the secure national IT network and has contracts to provide the service to NHS Healthcare professionals, which will now roll out over the next 12 months. As the only provider to offer the service Medify is set to achieve significant revenues starting on the 1st of September 2006.
Of further importance is that UK Healthcare professionals represent approximately 10% of the overall European market and approximately 1% of a total global market of 59 million professionals (potential users).
Contact : press@medifysolutions.com
Company website : www.medifysolutions.com
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Medify Solutions Limited, see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
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Source: Medify Solutions Ltd.
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