HOUSTON, July 1, 2005 (PRIMEZONE) -- Complete Care Medical, Inc. (Pink Sheets:CCMI) is pleased to announce its acquisition of Diabetes Gold, Inc., a high growth diabetes service company located in Houston, Texas. No changes in management are planned for Diabetes Gold, which will operate as a wholly owned subsidiary of Complete Care Medical, Inc.
By implementing strict supply chain controls, Diabetes Gold offers diabetes patients an effective disease self-management program that dramatically reduces the cost of testing and treating their diabetes. In a joint effort with CarePharm, LLC, a Complete Care Medical, Inc. subsidiary, Diabetes Gold delivers the two most widely prescribed diabetes drugs, diabetes test strips and lancets for a total cost of less than $1.00 per day. This is a 64% reduction from normal retail pricing of $2.18 per day. Through its contracts with several major benefit plan sponsors, Diabetes Gold has access to more than 75 million lives to whom it can offer its price and service advantages.
"Complete Care Medical's acquisition of Diabetes Gold will allow us to offer a deeply discounted pricing model to the more than 18 million people in the United States afflicted by diabetes and opens the door for our other affiliated companies to leverage their sales on Diabetes Gold's client base," said J.P. Monteverde, CEO of Complete Care Medical, Inc. "In addition, this acquisition will allow Complete Care Medical to continue our expansion and increase our market share in the growing mail-order pharmaceutical and disease management industry."
Through its subsidiaries, Complete Care Medical, Inc. provides patients in all 50 states with lower cost alternatives for disease management, medical supplies and prescription pharmaceuticals. In addition, Complete Care Medical's discount services and medication program offers healthcare payers, healthcare providers, healthcare professionals and patients with easy access to utilization and compliance data in order to improve patient outcomes and improve quality of life.
For more information: www.ccmedicalinc.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause 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. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
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