Stock Guru Announces Coverage of Andover Medical Inc.
Andover Medical, Inc. (AMI), is involved in acquiring durable medical equipment companies across the United States. This provides an advantage of projected growth and evolving economies of scale arising from consolidation in the procedure specific durable medical equipment and services segments of the orthopedic, podiatric, and urological physician care markets in the United States. By establishing a nationwide subsidiary network, AMI plans to offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products.Andover Medical classifies the following as durable medical equipment:
- Hot cold therapy
- Passive motion machinery
- Orthotics
- Prosthetics
- Bed chairs walkers and canes
Andover participates in a program known as stock and bill which allows the orthopedic surgeon to supply the medical equipment directly to the patient. The patient is fitted with knee or shoulder brace in the office and the doctor stocks the equipment but the billing is to the patient, Medicare/Medicaid, or the insurance company.
Orthopedics, urology and podiatry are among the fastest growing segments in healthcare products and services. The baby-boomer and the graying of the population with the increase in the active physical lifestyle of seniors, among other factors, play key roles in this growth.
Market Highlights:
The U.S. durable medical equipment for orthopedics product market is estimated to be a $1.02 billion dollar industry. It is probable that 10 percent of all patients seen by the 2,700 orthopedic clinics require a prescription of durable medical equipment products. The $16 billion podiatry industry is served by 14,000 podiatrists. The durable medical equipment market in incontinence product market now exceeds $2 billion and is expected to grow rapidly based both on the size of the senior population and its desire for a better quality of life.
ADOV plans to attack both of these markets with the strength afforded by group pricing, group billing and experienced management and ultimately a nationally recognized brand name!
Visit the Stock Guru Profile of ADOV
Source: ADOV
Ed Reilly – Chief Executive Officer Andover Medical, Inc.
510 Turnpike Street Ste 204
N. Andover, MA 01845
978-557-1001 x 11
This press release contains “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. All statements other than statements of historical facts included in this press release are forward-looking statements. These forward looking statements include Andover’s intent to establish a nationwide subsidiary network and plans to offer physicians the largest selection of competitively priced brand-name durable medical equipment, and urodynamic diagnostic and treatment products. All forward-looking statements speak only as of the date of this press release. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, achievements or transactions of AMI and its affiliates to be materially different from any future results, performance, achievements or transactions expressed or implied by such forward-looking statements. Such risks, uncertainties and other factors which, could impact the Company and the forward-looking statements contained herein are included in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
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