Navigation Links
iVolution Medical Systems to Assist Healthcare Providers With Compliance of President Obama's Stimulus Plan
Date:3/3/2009

WILMINGTON, Del., March 3 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc. (OTC Bulletin Board: UCMT.OB), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to announce that one of its holdings, iVolution Medical Systems, Inc. will be useful in bringing President Obama's stimulus plan to fruition.

iVolution provides a unique combination of advanced, user-friendly, highly-secure and affordable healthcare technology solutions to physicians, hospitals, and consumers. Its technology platform facilitates the automation of medical records for virtually all aspects of the physician's and hospital's business. President Obama's initiative mandates the use of electronic medical records by the year 2014 and offers bonuses to providers in compliance and penalties for those not computerizing their medical records. The stimulus plan sets aside $19 billion for health information technology. Physicians would get bonuses of between $44,000 and $64,000 -- and hospitals would get as much as $11 million -- once they show that they have computerized their medical records systems. To insure traction of this initiative, the plan includes Medicare payment penalties for physicians and hospitals that are not using electronic medical records by 2014.

"Electronic medical records require a central Web program and training that could prove cost-prohibitive for many providers," says Craig Cohen, Chairman and Chief Executive Officer of iVolution. "iVolution's model is both proven and cost-effective thus enabling the healthcare industry to support President Obama's plan to alleviate rising healthcare costs."

According to Michael Queen, President and Chief Executive Officer of Universal, "We believe the widespread appeal of iVolution's business will not only secure its position as a leading healthcare company but will also add tremendous value to our portfolio."

Pursuant to its business plan as a Business Development Company, Universal intends to dividend shares of iVolution to Universal shareholders upon the effectiveness of iVolution's S-1 registration statement that iVolution expects to file with the Securities and Exchange Commission later this year.

About Universal Capital Management, Inc.:

Universal Capital Management, Inc., is a publicly traded Business Development Company created under the Investment Act of 1940. Its purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value. Please refer to the company's website at http://www.unicapman.com .

Forward-looking Statements:

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Universal Capital Management, Inc., or iVolution "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UCM's or iVolution's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UCM or iVolution as appropriate, and the valuation of UCM's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UCM and iVolution believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UCM and iVolution do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


'/>"/>
SOURCE Universal Capital Management, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. MSU engineering team designs innovative medical device
2. ATS Medical to Present at the 2007 Thomas Weisel Partners Healthcare Conference
3. Providence St. Joseph Medical Center, Caregivers Reach Agreement on a Union Contract
4. Owner and Operator of Florida Durable Medical Equipment Company Convicted of Medicare Fraud
5. Father and Daughter From Tanzania Receive Their First Medical Examination in Newport Beach
6. Doctors and medical ethicist discuss whether doctors should participate in capital punishment
7. Preparation for Natural Disasters Critical for People With Diabetes, Chronic Medical Conditions
8. Doctors and Medical Ethicist Discuss Whether Doctors Should Participate in Capital Punishment
9. Symmetry Medical Completes Acquisition Of Specialty Surgical Instruments
10. Milestone Scientific Announces Successful Completion of its Collaboration Agreement With Carticept Medical
11. FDA Seeks to Regulate Complementary and Alternative Medicine; Products Such as Vegetable Juice Could Be Restricted for Medical Use
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/6/2016)... St. Petersburg, FL (PRWEB) , ... February 06, 2016 , ... ... AsSeenOnTV.pro are pleased to announce the launch of a new DRTV campaign with Belly ... rug. If having tried everything from sprays to puppy pads and find nothing works, ...
(Date:2/5/2016)... ... February 05, 2016 , ... Love is in the ... a variety of colors, assortments and packaging. This staple for Valentine’s Day is a ... location. , For Valentine’s Day, not only are long-stem roses available, but also ...
(Date:2/5/2016)... ... 05, 2016 , ... Successful recruitment and retention efforts, new ... initiatives have all marked the last 12 months at Roswell Park Cancer Institute ... nation’s oldest cancer center, Candace S. Johnson, PhD, outlined the many accomplishments of ...
(Date:2/5/2016)... (PRWEB) , ... February 05, 2016 , ... ... announce the addition of micro-needling services in their Napa Valley office. The technique ... of Plastic Surgery Associates, Dr. Canales and Dr. Furnas, are part of only ...
(Date:2/5/2016)... Toronto, Ontario (PRWEB) , ... February 05, 2016 , ... ... the Scarborough General Hospital Burn Unit, plastic and cosmetic surgeon Dr. Wayne Carman transitioned ... the Scarborough Hospital. He successfully completed his first three-year term as chief and began ...
Breaking Medicine News(10 mins):
(Date:2/5/2016)... 2016  Aralez Pharmaceuticals Inc. ("Aralez") today announced the ... Tribute Pharmaceuticals Canada Inc. ("Tribute") following approval of the ... The combined company will operate under Aralez Pharmaceuticals Inc. ... Canada , Ireland ... Under the terms of the Agreement and Plan of ...
(Date:2/5/2016)... , Feb. 5, 2016  Venice,s newest laser ... the first of its kind in the area ... through advanced laser treatment. The physician-owned and operated ... Suncoast by storm with its revitalizing skin ... advanced multi-wavelength Astanza Trinity technology. http://photos.prnewswire.com/prnh/20160204/329957 ...
(Date:2/5/2016)... , Feb. 5, 2016  Zimmer Biomet Holdings, Inc. ... the previously announced underwritten secondary offering of 11,027,558 shares ... consisting of affiliates of Blackstone and Goldman Sachs.  The ... initial price of $96.45 per share. The selling stockholders ...  Neither Zimmer Biomet nor any of its directors, officers ...
Breaking Medicine Technology: