Millennium HealthCare to Enter Pain Management Device Market With Product Line Expansion
MELVILLE, NY–(Marketwired – Mar 30, 2016) – Millennium HealthCare Inc. (OTCQB: MHCC), a developer and distributor of advanced healthcare services and innovative medical technologies, today announced the Company is exploring pain management devices to add to its new Product Division. The formation of the Products Division was recently announced as part of the Company’s re-organization. The newly organized division will focus on the manufacturing, partnering and/or selling of leading edge medical devices and equipment while leveraging Millennium’s “in-house” network of private medical practices, primary care physicians (PCPs), clinics and hospitals.
Millennium’s current product offerings include non-invasive, early detection tools for health issues such as cancer and heart disease. Millennium management is now evaluating specific products in the growing pain management device market and adding selected devices to its Products Division’s portfolio of offerings. Pain management devices are products that are used for patients that have to manage long-term or severe pain and include electrical stimulation devices (ESDs), radiofrequency ablation devices, analgesic infusion pumps, and neurostimulation devices. The market for pain management devices is forecasted to reach over $5 billion worldwide by 2020, with the United States being the largest market segment. This projected growth is expected to be driven in part by the demand for long term rehabilitation pain management and the pain management needs of the aging population. Millenium management is evaulating devices that would fit best into its current Product’s division, complimenting the Company’s other offerings, and that would have an immediate sales impact into the Company’s established “in-house” network.
About Millennium Healthcare Inc. (www.millenniumhcs.com)
Millennium Healthcare Inc., through its wholly owned operating subsidiaries, provides hospitals, primary care physician practices, physician groups and healthcare facilities of all sizes with cutting-edge technology driven applications, systems and medical devices focused primarily on preventive care through early detection. The Company also provides advanced billing and coding services, and practice development and management services. For more information, please visit www.millenniumhcs.com.
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