Houston, Feb. 17, 2017 (GLOBE NEWSWIRE) --
Spine Injury Solutions, Inc. (SPIN) unveils well-received Affiliate Expansion Program at seminar in Atlanta.
After three years in development, SPIN’s patented Quad Video HALO™ (QVH) Video Medical Records Technology (VMRT), paired with its successful seven year history of injury case financing delivered through three contracted “Affiliates”, the stage has now been set for a nationwide expansion of its unique new Affiliate Program adding a high-tech advantage to injured accident victims.
HOUSTON, Feb. 16, 2017 (GLOBE NEWSWIRE) -- Spine Injury Solutions, Inc. (OTCQB:SPIN), a technology-driven, medical service, finance, and healthcare solution company servicing the multi-billion dollar spine injury sector, through its Chairman/CEO Dr. William Donovan, MD is pleased to report that the Company’s attendance and speaker participation at the pre-announced James J. Mathis “Personal Injury: Understanding Colossus Seminar” in Atlanta, GA, February 11, 2017 was a success in several aspects.
The Seminar attendees, primarily made up of healthcare providers and attorneys servicing the Personal Injury (PI) industry were introduced (most for the first time), to SPIN’s proprietary, patented, Quad Video HALO™ v3.0 and its success in facilitating patient confidence, “Best Medical Practices” and higher case settlements in shorter time for cases involving diagnostic and treatment injections. The original beta QVH first began clinic testing and trials in 2014 in Houston TX with Northshore Orthopedics (NSO), SPIN’s first “Affiliate” owned by SPIN Founder/Chairman. NSO along with several satellite locations, using SPIN’s Medical Lien financing program since 2010, had, up until the first use of QVH in 2014, financed over 6,000 diagnostic injection procedures in the conventional non-technical way similar to what the rest of the country uses today. While under continuing testing and development, the QVH received its US Patent in 2015 and its successful completion of compliance testing of the Quad Video HALO System to meet EN 60601-1 safety standard for medical equipment along with its EU approval to carry the CE Mark, in 2016.
SPIN has internally invested approximately $2.5 million in developing the QVH which has now been used and proven successful in an additional 2,400 case procedures. Early on in the testing of the QVH, second and third SPIN Affiliates were added in Midland/Odessa and Tyler, TX who contributed to the latter 2,400 procedures.
Armed with data and both medical and attorney testimonials giving clear “Proof of Concept” to the conjoining of the QVH v3.0 with conventional spine injection procedures, SPIN management made the decision in late 2016, to develop a new Nationwide all-encompassing affiliate program to be introduced for the first time at the Atlanta seminar. New SPIN affiliates once qualified and accepted, will be trained to provide best practices, be referred cases generated by SPIN paid-for marketing, and trained in the use of SPIN’s QVH, all provided at no additional cost to their existing practices. Once the procedures are completed, SPIN will early monetize the affiliates case billing leaving no further collection risk.
The new affiliate program capitalizes on SPIN’s unique position in having exclusive access to its patented QVH. When the decision was made in December to expand its affiliate program, the targets were to add a minimum of four affiliates, with two in Atlanta and maximum of 10 affiliates over the following year. The company is pleased to report significant interest in the program by over 20 attendees, mostly from Atlanta, but also from four additional States making the high end of the target range appear very achievable.
Additionally –though the QVH was originally developed for internal SPIN affiliate use, while under continuing development, it was realized that a large additional market existed. A market for instantly transportable High Definition video providing transparency could be much broader. For example, there is a need for a Hybrid Video Integration Platform for general surgery, not only for QVH’s own four camera video showing internal x-ray real-time view along with three external cameras, but also to piggy-back additional video devices. QVH also has built-in capabilities to plug-in any digital or analog video medical device with “video out” capabilities. Devices used in robotic, arthroscopic, microscopic, etc. surgical procedures both for risk management, or use in hospitals and cadaver labs for global education can work with the QVH. Though direct sales were not the primary target at the Atlanta seminar, management also reports significant third party, non-PI interest, in the QVH such as described above from three attendees.
Dr. Donovan stated; “On behalf of the SPIN and QVH Management, Directors and Development team, I cannot overstate how pleased we were with the reception we received from not just the attendees, but even the Sponsors and other Presenters at Atlanta. We anticipate adding and announcing new team members shortly. “
Donovan added; “For those not familiar with SPIN’s history, it should be noted that since inception some seven years ago, SPIN’s business advances to include the QVH development have been financed through its own organic revenues, sporadic third party straight debt paid off on time and some early loans by me later exchanged for shares. SPIN has never asked for, or received any outside equity financing, public or private. While I am the largest shareholder of the Company, the vast majority of my shares were either purchased in the open market or early loans I made to the Company which I converted to restricted shares at market value. The majority by far of my share purchases and/or debt conversions were at prices higher than the current share price.”
About Spine Injury Solutions, Inc:
We are a medical services and technology company facilitating diagnostic services for patients who have sustained spine injuries resulting from traumatic accidents. We deliver turnkey solutions to spine surgeons, orthopedic surgeons, DOs and other healthcare providers that provide necessary and appropriate treatment of musculo-skeletal spine injuries resulting from automobile and work-related accidents. Our management and financing services help reduce the financial burden on healthcare providers that provide patients with early-stage diagnostic testing and non-invasive surgical care, preventing many patients from being unnecessarily delayed or inhibited from obtaining needed treatment. We believe that our services and technology brings strong transparency and impartiality to all parties involved in the settlement of patient cases.
Additional information about the company, along with a video can be found at its website at www.spineinjurysolutions.com.
About Quad Video HALO, Inc.
A wholly owned subsidiary of Spine Injury Solutions, Inc., Quad Video HALO, Inc brings surgeons and interventional pain management providers the ability to bring modern video documentation technology into the operating/treatment rooms. The Quad Video Technology™ V3.0 and HALO Rx™ creates a digital turnkey video and audio documentation solutions that integrates multiple views from other OR/treatment imaging sources with several other viewpoints just outside the sterile field.
Additional information about QVH can be found at its website: www.quadvideohalo.com.
Forward-Looking Statements: This press release includes forward-looking statements as determined by the U.S. Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical facts, included in this press release that address activities, events, or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to acquire and develop specific projects, the ability to fund operations, healthcare services demands, changes in healthcare practices, government regulation, and other factors over which the company has little or no control. The company does not intend (and is not obligated) to update publicly any forward-looking statements. The contents of this press release should be considered in conjunction with the warnings and cautionary statements contained in the company's recent filings with the SEC.
Dr. William F. Donovan
Chairman, President & CEO
Spine Injury Solutions, Inc.
William Donovan 713 521-4220