Millennium to Develop Additional Products for the Long-Term Care Channel
BASKING RIDGE, N.J., Dec. 6 /PRNewswire-FirstCall/ -- Millennium Biotechnologies Inc., wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (OTC Bulletin Board: MBTG) today announced that the initial $200,000.00 monthly shipment from Millennium Biotechnologies, Inc. (MBI) to Provider Services, Inc. (PSI) under the previously announced $20,000,000 Five- year exclusive Purchase order was shipped. Millennium continues to develop a suite of Nutritional Products for the Long-Term Care channel. The suite of products includes but is not limited to Tube Feeding products.
PSI is Ohio's second largest services provider for the Long Term Care channel, with sales in excess of 300 million dollars, and provides services to over 12,000 residents.
"We have just begun to address the nutritional needs in the Long Term Care channel and are capable of modulating our product's patented composition to meet and/or exceed the formulary requirements in order to enhance the results at the patient level," stated Mark Mirken, President and Chief Operating Officer of Millennium Biotechnologies.
"The prevailing view of providing the cheapest form of nutrition possible is quickly fading," stated Brian Colleran, CEO of PSI. "In the first instance, because of its inability to stabilize and improve the resident, it is far from cheap and, more importantly, it does not enhance the resident's quality of life"
"The ability to develop products specifically for a channel growing in excess of 12% per annum with growth being accelerated by third-party pay is unquestionably a fertile and expanding market to Millennium Biotechnologies Inc.," stated Mirken.
Millennium's three proprietary, marketed products, which form the
Company's Resurgex(R) Continuum of Care, include Resurgex Select(R),
Resurgex(R), and Resurgex Plus(R). Resurgex Select(R) is a whole
|SOURCE Millennium Biotechnologies Inc.|
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