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Demand For Mobile Prostate Cancer Brachytherapy Vendor Programs Continues Into 2010
Date:2/23/2010

Oncology Med Experiences 300% Growth Of Its Turnkey Mobile Prostate Brachytherapy Program Contracts In Last 2 Quarters Of 2009

Pittsburgh, PA (PRWEB) February 23, 2010 -- Oncology Med, Inc. (Pink Sheets “ONCO”) announced today that in the 3rd and 4th quarters of 2009 that it expanded the number of contracts for its mobile turnkey brachytherapy programs by 300% This expansion with hospitals and ambulatory surgery centers by Oncology Med includes same market growth, as well as, new market presence and penetration. Oncology Med expects these new contracts to double the number of prostate cancer brachytherapy cases performed in calendar year 2010 as compared to the twelve month period of July 1, 2008 to June 30, 2009.

In the 1st and 2nd quarters of 2009, Oncology Med, a Pittsburgh based cancer treatment solutions group, was successful in renewing all of its current hospital and ambulatory surgery center vendor contracts with facilities in northeast Ohio, western Pennsylvania, New York (Long Island) and eastern Massachusetts for provision of mobile prostate brachytherapy services. New markets now include eastern Pennsylvania, Connecticut, and Delaware. In addition, Oncology Med saw a doubling of its contracts and major same market growth and expansion occur in its western Pennsylvania region with the advent of OMI’s largest competitor of mobile brachytherapy services exiting the market.

Oncology Med derives revenue from these contracts from ‘per use’ user fees associated with ultrasound imaging, medical physics treatment planning, and provision of equipment and staff utilized in medical procedures in advance of the actual treatment and in the operating room during the actual implant of the therapeutic radionuclide seeds. In addition, equipment, staff, and all resources are mobile allowing for usage at multiple facilities without additional capital outlay.
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