Escalon Medical Corp. and Modernizing Medicine, Inc. Announce Partnership for Offering Integrated EMR and Image ManagementNovember 9, 2012 | Industry News Release
Escalon Medical Corp. (Nasdaq: ESMC) today announced the partnering of its Sonomed Escalon group with Modernizing Medicine, Inc. to provide cloud-based end-to-end electronic medical records (EMR) and image management solutions for ophthalmic practices. Seamless integration of Sonomed Escalon's AXIS image management software and Modernizing Medicine's Electronic Medical Assistant EMA Ophthalmology EMR solution provides complete patient management from a single merged solution, from coding and prescribing at the touch of a button to powerful exam image review tools, and more. The companies will introduce the integrated solutions at the American Academy of Ophthalmology's Annual Meeting in Chicago, IL November 10-13, 2012.
"EMA Ophthalmology is a cloud-enabled EMR that is fast becoming one of the industry's leading solutions due to its power, flexibility, ease of use, and focus on improving clinical efficiency," noted Matthew Carnevale, Sonomed Escalon's Chief Technology Officer. "Now added to that is unparalleled exam image review capabilities and complete integration with nearly any diagnostic imaging device."
"We are excited to save doctors even more time with the addition of AXIS' advanced integration of diagnostic images to patient records stored in EMA," said James Brooks, Executive Vice President of Sales & Marketing at Modernizing Medicine. "Sonomed Escalon is an ideal partner for Modernizing Medicine since both companies have demonstrated a commitment to making accessible mobile offerings, especially on the iPad platform. With the combined AXIS EMA Ophthalmology solution, ophthalmologists can now both review diagnostic images such as OCT, fluorescein angiography, color fundus, and others, and interpret the results of the exam directly on an iPad."
The partnership allows Modernizing Medicine and Escalon to offer their respective products either as stand-alone solutions or as an integrated package, depending upon the needs of particular clients. For more information, visit www.modmed.com or www.sonomedescalon.com, or meet both companies at the American Academy of Ophthalmology's Annual Meeting, booth #2771 for Modernizing Medicine and #3238 for Sonomed Escalon.
About Modernizing Medicine
Modernizing Medicine is delivering the next generation of electronic medical records (EMR) technology for the healthcare industry. Its Electronic Medical Assistant (EMA) is a cloud-based specialty-specific EMR with a massive library of built-in medical content, designed to save physicians time. Available as a native iPad application or from any web-enabled Mac or PC, EMA adapts to each provider's unique style of practice and is designed to interface with over 400 different practice management systems. Today, Modernizing Medicine provides specialty-specific offerings for the dermatology, ophthalmology, optometry and plastic surgery markets, and to over 700 practices across the country.
About Escalon Medical Corp.
Founded in 1987, Escalon Medical Corp. (www.escalonmed.com) develops markets and distributes ophthalmic diagnostic and surgical products. The Company seeks to utilize strategic partnerships to enhance its development programs and also seeks acquisitions to further expand its product offering to achieve critical mass and better leverage the Company's distribution capabilities, although such partnerships or acquisitions may or may not occur. The Company has headquarters in Wayne, Pennsylvania and operations in Long Island, New York, New Berlin, Wisconsin and Stoneham, Massachusetts.
Note: This press release contains statements that are considered forward-looking under the Private Securities Litigation Reform Act of 1995, including statements about the Company's future prospects. These statements are based on the Company's current expectations and are subject to a number of uncertainties and risks, and actual results may differ materially. The uncertainties and risks include whether the Company is able to:
- implement its growth and marketing strategies, improve upon the operations of the Company business units, including the ability to make acquisitions and the integration of any acquisitions it may undertake, if any, of which there can be no assurance,
- grow our remaining ophthalmic business unit,
- implement cost reductions,
- generate cash,
- identify, finance and enter into business relationships and acquisitions.
Other factors include uncertainties and risks related to:
- new product development, commercialization, manufacturing and market acceptance of new products,
- marketing acceptance of existing products in new markets,
- research and development activities, including failure to demonstrate clinical efficacy,
- delays by regulatory authorities, scientific and technical advances by the Company or third parties,
- introduction of competitive products,
- ability to reduce staffing and other costs and retain benefit of prior reductions
- third party reimbursement and physician training, and
- general economic conditions.
Further information about these and other relevant risks and uncertainties may be found in the Company's report on Form 10- K for year ended June 30, 2012, and its other filings with the Securities and Exchange Commission, all of which are available from the Securities and Exchange Commission as well as other sources.