WEST PALM BEACH, Fla.,
April 23, 2012 /PRNewswire/
-- SurgLine International, Inc. (SGLN.PK)
Thomas Toland, CEO of SurgLine
International, Inc. ("SGLN") and SurgLine, Inc. ("SurgLine") stated
that the Company is pleased to announce that SurgLine has formed
SurgLine MDC Holdings, LLC. ("SMDC"), a Delaware Limited Liability
Corporation, as a wholly owned subsidiary. SMDC will be
forming joint-venture opportunities with spine surgeons and
other orthopedic surgeons in markets around the
country. The purpose and focus of SMDC will be on achieving
cost containment of surgical implants in the operating room for
hospitals and acute surgery centers ("ASC").
These Joint Ventures will be structured whereby SMDC will own a
minimum of 60% of each operating entity and participating surgeons
will own up to 40% of the operating entity.
SurgLine was assisted in developing this joint-venture strategy
by one of the most well-known healthcare law firms on the West
Coast. The joint venture structure has been designed to comply with
all regulatory issues including federal anti-kickback legislation
as well as state law(s).
The goal of each of these joint-ventures is to partner with key
physician leaders within their communities and to reduce the cost
of surgical implants in the operating room, develop quality
assurance standards for procedures performed, and to develop and
track patient outcomes for the payer community while holding down
the rising prices of implants charged to hospitals and ASC's.
Mr. Toland was quoted as saying, "This is not the typical
physician owned distributorship ("POD") strategy that has existed
in the past, where surgeons and business operators charged as much
as they can get away with. Each of our free standing entities will
focus on reducing the cost of high priced surgical implant hardware
sold to hospitals and surgery centers while working hand-in-hand to
deliver more cost effective solutions." Mr. Toland went on to say,
"I have met with risk managers and case managers for insurance
companies and discussed this strategy with them in detail. The
consensus is that the payer community wishes to see real reductions
in cost while delivering high quality outcomes for their patients
and full disclosure of ownership by any physician who may be an
investor."
About SurgLine, Inc.
SurgLine (www.surgline.com) sources and distributes high quality
FDA approved medical and surgical products at discount prices,
thereby reducing or eliminating the historical brand premium paid
by healthcare providers including acute care hospitals, surgery
centers, surgical hospital, self-insured employers and insurance
companies. SurgLine offers high quality medical and surgical
supplies and products at substantial savings utilizing stocking
distributors and institutional buyers by sourcing products globally
without the historical brand premium and industry markup.
About SurgLine International, Inc.
SurgLine International, Inc. is a holding company that in
addition to SurgLine, wholly owns Nuvo Solar Energy, Inc., a
development stage company that owns unique patent pending solar and
photovoltaic related technology. The Company is also seeking
other business opportunities.
This press release may include forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These
statements are based on the Company's current expectations as to
future events. However, the forward-looking events and
circumstances discussed in this press release might not occur, and
actual results could differ materially from those anticipated or
implied in the forward-looking statements.
For Further Information Contact:
Thomas Toland
949-698-8485
SOURCE SurgLine International, Inc.