WEST PALM BEACH, Fla.,
June 14, 2012 /PRNewswire/
-- Thomas Toland, CEO of SurgLine International, Inc.
("SurgLine") (SGLN.PK) is providing an update regarding the
company's revenue pipeline.
SurgLine International, Inc. acquired SurgLine, Inc. as the
result of a merger just nine months ago and as a result of that
merger, the new company and its management team has invested a
substantial amount of their time and effort in laying the
groundwork for the company's unique value proposition to its
potential customer base while setting the stage for developing its
brand of products to surgery centers and acute care hospitals with
its SURG brand and slogan "More Value for your healthcare
dollar."
Toland was quoted as saying, "Our management team has focused
its efforts on building long term value and revenues for the
company and its shareholders.
Let me be very clear on this point, the management team
continuously reviews its revenue opportunities and continues to
have complete confidence at this time that we expect to materialize
as a result from the groundwork that has been invested over our
first nine months of operations.
The management team has introduced its products and pricing to
the acute care hospitals, hospital systems, the VA hospital system,
surgery centers, health plans and others and has without exception
been well received. Our typical savings on the aggregate continues
to be between 30% and 50% as a general rule, and these savings mean
substantial opportunities for the company to capitalize on.It
typically takes hospital organizations significant time to make the
smallest change to everything they do, and we will patiently wait
while they do so, knowing the benefits of such change."
Toland went on to add, "As previously stated in an early press
release, the company projected a 10 million
dollar revenue run rate by the end of calendar year 2012.We
are confident that with our current revenue pipeline of additional
programs in process, and previously executed agreements that we
will meet the previously stated revenue goal by the end of calendar
year 2012.
We are beginning to see the fruits of those efforts coming about
in the transaction volume that is beginning to develop for closure
over the coming months.
Over the past 60 days the Company has made several important
revenue announcements including an agreement to provide its
surgical implants to providers in the rural marketplace throughout
California, an agreement with an
MSO that provides services to surgeons focusing on workers
compensation patients known as MedNPV and the rollout of its wholly
owned subsidiary to pursue joint venture opportunities with
surgeons related to cost containment strategies in hospitals and
surgery centers and the acquisition of a trauma product line
company.
These earlier announcements will begin to work into the revenue
line as we continue to work with the parties integrate our products
into those previously announced transactions."
Toland concluded by saying, "SurgLine is completely committed to
developing the most successful value based surgical implant company
in the industry while generating substantial revenues and earnings
in months and years to come. We also want to reiterate that those
who invest in the early stages of our story will be rewarded for
their patience and persistence."
On another note, Toland was quoted as saying, "The executive
team and founders returned 1 billion shares back to the treasury a
few months ago and management extended its lock up of their
remaining shares an additional six months as a clear message of its
confidence in what it believes to be a tremendous long-term winner
and to invest in new opportunities. We are aligned alongside our
long term shareholders and will continue to do whatever it takes to
build value, revenues and earnings for SurgLine International,
Inc."
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.