FOR IMMEDIATE RELEASE
Contact:
David W. Moskowitz MD
CEO, GenoMed
dwmoskowitz@genomed.com
Engr. Julie Gretchen Dizon
Board member, LaSalTech
gretchdiz@gmail.com
ST. LOUIS—May 20, 2009—GenoMed® (OTC Pink Sheets GMED.PK), the Public Health Company™, announced today that it has signed a memorandum of understanding (MOU) with LaSalTech, an Internet company located in the Philippines. LaSalTech will serve as the anchor partner for a larger GenoMed-Filipino venture designed to bring preventive molecular medicine to the Philippines and, eventually, to the rest of the world.
The venture to be formed will include GenoMed, Inc., the public US company, and LaSalTech, Inc., a private Philippine company. Additional Philippine companies will be invited to join. Philippine law limits foreign companies like GenoMed to a maximum of 40% ownership of any joint venture.
LaSalTech has already introduced GenoMed to additional possible Philippine partners for the venture, such as a telecommunications company to help deliver GenoMed’s protocols by cell phone, and a catastrophic hospitalization insurance company. Later this week, GenoMed will hold talks with additional potential partners, including a generic drug company and a chain of retail pharmacies.
Said Dr. Moskowitz, GenoMed’s CEO, “We are putting together a Total Healthcare Solution™ for the Philippines. If successful, the same model could work for healthcare everywhere.”
Dr. Moskowitz continued, “The venture will include GenoMed’s protocols to keep diabetic and hypertensive patients off the kidney machine, a telecom company to help us market and deliver our medical advice by cell phone, Call Centers to answer patients’ questions in real time, and a generic drug company to offer the drugs we use at a low enough price for even the poorest Filipino to afford. In the future, we’d like to add a network of discount physicians, clinical laboratories, dentists and optometrists. Retail pharmacists could check patients’ blood pressures if doctors were too busy.”
Dr. Moskowitz ended by saying, “If we succeed at a state-of-the-art, prevention-based healthcare solution for even the poorest Filipino, we will be able to export it to other countries, especially the US. President Obama has called for just such a solution. Unfortunately, I haven’t found a single American partner despite a decade of searching. I’m delighted to have found so many potential Philippine partners after only a month. LaSalTech, and Brother Rolando Dizon, its Chairman, is the perfect partner I’ve been looking for all these years. This is a great day for GenoMed’s shareholders. We finally get a chance to show our stuff in a nation of 90 million.”
About LaSalTech (www.lasaltech.com)
LaSalTech was the first Internet service provider in Bacolod, a city of 750,000 in Negros Occidental, the sugar-growing province of the Philippine Islands. Several years ago, LaSalTech entered the growing business of Call Centers. Brother Rolando Dizon, its Chairman, has been a trusted advisor to Philippine Presidents. He helped Cory Aquino overthrow former President Ferdinand Marcos.
About GenoMed (www.genomed.com)
GenoMed is a Next Generation Disease Management company that aims to deliver the best patient outcomes at the lowest possible cost. GenoMed wants to prove that it can arrest diabetes, hypertension, and emphysema even in a developing country with scant resources like the Philippines. GenoMed intends to be the global healthcare provider of choice, especially for America’s 50 million uninsured.
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