NEW ROCHELLE, N.Y., Oct. 12 /PRNewswire-FirstCall/ -- OCG Technology, Inc. (BULLETIN BOARD: OCGT) announced today that its wholly owned subsidiary PrimeCare Systems, Inc. ("PrimeCare"), has awarded an exclusive license to Telemedica, S.R.L. ("Telemedica"), based in Buenos Aires, Argentina. The agreement gives Telemedica exclusive rights to market the PrimeCare(TM) Patient Management System, Version Nine ("PrimeCare(TM) Version Nine") in the "Mercosur", which is South America's free trade area, consisting of Argentina, Brazil, Paraguay, Uruguay, and Chile. Telemedica plans to use PrimeCare(TM) Version Nine initially to establish a fully integrated health network of Doctors and patients in Argentina. Telemedica intends to commence the installation of PrimeCare(TM) Version Nine at the beginning of 2006, in clinics in Argentina's northwest provinces.
Dr. Elias Hofman, Telemedica's Chief Medical Officer states, "Due to its functionality, PrimeCare(TM) Version Nine is unique among electronic medical records. It is patient and doctor interactive, flexible, inexpensive, and Internet-based, not requiring expensive computer hardware or software. Far more than an electronic medical record, the system improves how ambulatory medicine is delivered." Dr. Hofman also noted that Argentina is in desperate need of a national electronic medical registry, and that PrimeCare(TM) Version Nine could fill this need. Dr. Hofman is also a Professor in the Universidad Favaloro's Department of Family Medicine, located in Buenos Aires; is a founding member of the Sociedad Argentina de Endocrinologia y Metabolismo; is an associate of the International Medical Program at the Morton Plant Hospital in Clearwater, Florida; and has a medical practice in Buenos Aires. Dr. Hofman possesses an authoritative knowledge of telemedicine, and has participated in medical call-in programs for BBC Mundo (BBC's Spanish language service).
Robert A. Shiver, recently appointed President of PrimeCare comments, "We are extremely pleased that Dr. Hofman, after investigating many medical record systems and utilizing PrimeCare(TM) Version Nine for almost a year, has chosen PrimeCare(TM) Version Nine as the backbone to achieve a national electronic medical registry for Argentina."
Telemedica's stated mission is to assist Argentina's 39 million people in living longer and healthier lives, while lowering healthcare costs and improving the productivity of the Country's healthcare investment. The Argentine government's healthcare expenditure is $13 billion per year, which is about 8.4% of Argentina's GDP. Telemedica believes that, if widely implemented, PrimeCare(TM) Version Nine could reduce this expenditure, saving the healthcare system a minimum of $500 million yearly. Savings would come primarily from PrimeCare(TM) Version Nine's enhanced diagnostic capabilities and improved, system-wide administrative functions. PrimeCare(TM) Version Nine's comprehensive knowledge bank of 280 symptom and problem oriented patient-interactive questionnaires could be used by doctors as a tool to avoid diagnostic pitfalls. PrimeCare(TM) Version Nine could enable Argentinean Doctors and healthcare administrators to better manage patient information through real time access to up-to-date data monitoring of resources, costs, treatment efficacy, patient flow, patient satisfaction rates, and staff efficiency allowing them to optimize decisions.
About OCG Technology, Inc. ("OCGT"):
OCGT, and its wholly owned subsidiary PrimeCare(TM), has developed, owns, maintains, updates, expands and markets the PrimeCare(TM) Version Nine (http://www.versionnine.com/), and several related Internet sites that use various sections of PrimeCare(TM) Version Nine: http://www.primecareontheweb.com/, http://www.yourowndoctor.com/ and http://www.yourownhealth.com/. PrimeCare(TM) Version Nine is a specially written front-end application designed to be downloaded by the client via a web connection, and then installed at the client's location using standard Windows installation procedures. This greatly simplifies and reduces the cost of both user installation and system maintenance.
A Safe Harbor Statement:
The statements that are not historical facts contained in this release are 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, and OCGT intends that such forward-looking statements be subject to the safe harbors created thereby. These forward-looking statements include predictions, estimates and other statements that involve a number of risks and uncertainties any, or all, of which could cause actual results to differ materially from any future performance suggested herein. While this outlook represents OCGT's current judgment on the future direction of the business, such risks and uncertainties may individually, or mutually, impact the matters herein described, including but not limited to product acceptance, economic, competitive, governmental, results of litigation, technological and/or other factors, which are outside the control of OCGT as well as those risks and uncertainties detailed in the Company's Security and Exchange Commission filings.
CONTACT: Jeffrey P. Nelson, Executive Vice President of OCG Technology, Inc., +1-914-576-8457, ext. 21, InvestorRelations@pcare.com
Web site: http://www.primecareontheweb.com/ http://www.versionnine.com/ http://www.yourowndoctor.com/ http://www.yourownhealth.com/
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