COMMACK, N.Y., May 5, 2003 (PRIMEZONE) -- Western Media Group (OTCBB:WMGCE), a publicly traded holding company, issued this letter from the President to address recent shareholder inquiries to Med-Link USA:
Dear Western Media Group Shareholders:
This year we have continued to make strides with our Med-Link USA portfolio company and we continue to strive towards profitability. Med-Link USA provides cost-effective and scalable HIPAA compliant network and communications services for the healthcare industry, allowing physicians, insurance companies and other medical professionals a private network for the free flow of communication. There is currently a micro-revolution underway in the healthcare industry as every physician, healthcare provider, insurance company and medical professional has been issued a deadline by the federal government to provide this type of secure transmission, storage and communication of medical information by the end of 2003.
Medical information has been remanded to a paper system, largely ignoring the need to organize, cross reference patient information, and allow access to medical professionals. This paper system has become antiquated and in need of an overhaul for quite some time, yet financial and economic restraints as well as the complex technology associated with such a task have been too great.
Our New Island Hospital virtual private network will be operational soon and we plan to continue to market our services to hospitals, insurers, laboratories, insurance companies and other medical vendors to create a network that has been long overdue and drastically needed in the healthcare industry.
We will continue to update our shareholders as often as we can, and we thank you for your support and feedback to our shareholder registry cards. Open lines of communication are very important to Western Media, and we thank you for your time and patience.
Best Regards,
Konrad Kim, President
About Western Media Group Corporation
Western Media Group is a publicly traded holding company that seeks out unique business and investment opportunities in a variety of industries and in various stages. The company prides itself on independent thinking delivering insightful and objective value-added services to its clients. By having unrestricted discretion in seeking and participating in business opportunities, Western Media Group provides its portfolio companies the necessary tools for success.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, all of the statements, expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. In addition, other important factors that could cause actual results to differ materially include the following: business conditions and the amount of growth in the Company's industry and general economy; competitive factors; ability to attract and retain personnel; the price of the Company's stock; and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. Western Media Group Corporation confirms nor provides guidance with respect to the financial projections supplied by other companies. Western Media Group Corporation takes no obligation to update or correct forward-looking statements.
Sources for reference:
Motley Fool, Investing Strategies: Electronic Medical Revolution "It's safe to say that the market is easily less than 10% penetrated."
Jerome Carter, MD, author of Electronic Medical Records: A Guide for Clinicians and Administrators (2001), less than 6% of all medical clinics are currently utilizing clinical automation technology. (featured in same Motley Fool article)
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