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Wellstar/TMI Announces Estimated Three-Year Revenue Projections
Wednesday, January 07, 2009 16:22ET
HOLLAND, OH -- (Marketwire) -- 01/07/09 -- Wellstar International, Inc. (OTCBB: WLSI), a provider of specialized diagnostic software and equipment, announced today its updated revenue projection guidance for fiscal years 2009 through 2011, based on the leasing of its thermal imaging system to long-term care ("LTC") facilities. Wellstar International announced two days ago that the revolutionary imaging system developed by the Company's TMI subsidiary, which can be used for the early detection of pressure ulcers, is now being marketed to the vast LTC market in the U.S. via a special leasing program. This lease program makes these systems now more affordable and essentially a "must-have" for long-term care facilities seeking to curtail potential liabilities and receive a higher rating from CMS under the agency's "pay for performance" standards.
Wellstar/TMI estimates revenues for its fiscal year 2009 will be in excess of $16 million, for 2010, they should be in excess of $69 million, and revenues are projected to be $133 million in 2011. The Company also anticipates that it will be cash flow positive in fiscal year 2009.
The Company's wholly-owned subsidiary, Trillennium Medical Imaging ("TMI"), has begun marketing its thermal imaging system to the approximately 16,000 LTC facilities throughout the United States, and it anticipates installing devices as early as April-2009. The Company has initiated a marketing plan that calls for the installation of 300 FDA approved thermal imaging systems per month through 2010, increasing that number to 400 per month by 2011.
Wellstar/TMI CEO, John Antonio, commented, "We believe that the Company is in a strong position to capitalize on this technology via the leasing program we have implemented. These revenues projected are based on only one intended application of this revolutionary thermal imaging system. We fully expect to market our systems for other applications in the near future. I hope that these revenue projections will now give investors a much clearer picture of our emerging business."
ABOUT WELLSTAR INTERNATIONAL, INC.:
Wellstar International, Inc., through its wholly owned operating subsidiary Trillennium Medical Imaging, Inc. (TMI), is poised to become a leading diagnostic company in the health care industry. TMI has developed and is marketing fully calibrated and functional, thermal imaging systems that utilize state-of-the-art infrared technologies and proprietary software to accurately and cost-effectively measure physiological changes in the human body. More information on the Company and its unique diagnostic software and product line is available on Wellstar's corporate Website, by visiting: www.wellstar.us.
