Andover Medical, Inc. is a single source provider of orthopedic, podiatric and urological durable medical equipment. Andover’s business model is simple and straight forward: Roll up the durable medical equipment business across the United States into a single entity with centralized management. In the initial stages Andover is focusing primarily on the orthopedic industry because of its strong growth and the management team’s deep experience in the space.
Durable Medical Equipment a Growth Business
The aging baby boom generation is likely to increase the nation’s disabled population, and a study indicates that in the United States more than 40 million Americans currently have some sort of disability, the Institute of Medicine reported Tuesday.
And a decline in physical activity and increase in obesity and diabetes in younger generations raises concerns that, as the nation ages, an increasing share of the population will experience disability, the Institute said.
“The number of Americans who have disabilities will grow significantly in the next 30 years as the baby boom generation enters late life,” said Alan M. Jette, director of the Health and Disability Research Institute at the Boston University School of Public Health.
“If one considers people who now are disabled, those likely to develop a future disability and people who are or will be affected by the disabilities of family members or others close to them, it becomes clear that disability will eventually affect the lives of most Americans,” said Jette, chairman of the committee that prepared the report.
The Institute of Medicine is a branch of the National Academy of Sciences, which is an independent organization chartered by Congress to advise the government on scientific matters.
The report suggests that there be a modification to the “in-home-use” requirement for Medicare coverage of durable medical equipment. That requirement now prevents payment for equipment that can be used both in and outside the home, the report said. This will expand the scope of reimbursement for the durable medical equipment business.
Source: Institute of Medicine: http://www.nationalacademies.org/iom
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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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