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Banyan Expands Distribution of New Electro Diagnostic Testing Device Print E-mail Disable live quotes RSS Digg it Del.icio.us Related **** Posts & Articles Last Update: 8:00 AM ET Dec 5, 2006
LOS ANGELES, Dec 05, 2006 (BUSINESS WIRE) -- Banyan Corporation (BANY : banyan corp ore com no par News , chart, profile, more Last: 0.01+0.00+3.57% 9:50am 12/05/2006 Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: BANY0.01, +0.00, +3.6% ) , franchisors of nationally branded Chiropractic USA clinics, and owner of Premier Medical Group and Virtual Medical Systems, Inc. (VMS), announced it has entered a new distribution agreement with GP Diagnostics of Lexington, South Carolina, valued to add revenues of $3.5 million from sales of its innovative VT3000 electro - diagnostic testing device. Kevin Gobbi, CEO of GP Diagnostics, said: "I'm very excited about selling VMS's new VT3000. It is a revolutionary electro-diagnostic device, particularly appealing to health care practitioners due to its ease of operation, convenience and the live viewing component. We are currently ramping up to commence sales, and I believe we will be able to conservatively sell 150 of these units in 2007." Banyan CEO Michael Gelmon added: "We are very pleased to announce this agreement with GP Diagnostics. VMS and GP Diagnostics project earnings of $24,000 per year per machine. Thus, on an annualized basis, we expect to add an excess of $3.5 million in revenue as a first year sales effort." About Banyan Corporation: Banyan Corporation is a publicly traded holding company focused on investing in and building a network of operating subsidiaries engaged in various innovative businesses. Currently the company's subsidiary, Chiropractic USA, Inc. is focusing on the development of branded Chiropractic clinics throughout North America by way of franchising and the use of uniform operating systems and practices. The company's other subsidiaries, Premier Medical Group LLC, and Virtual Medical Systems, Inc., provide diagnostic testing services to physicians nationwide in addition to marketing the VT3000 Electro-diagnostic testing machine.
Posts: 195 | Registered: Oct 2006
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Banyan Corporation Reports Strong Sales For Its Virtual Medical Systems, Inc. Subsidiary Print E-mail Disable live quotes RSS Digg it Del.icio.us
Last Update: 11:15 AM ET Jan 11, 2007
LOS ANGELES, Jan 11, 2007 (BUSINESS WIRE) -- Banyan Corporation's (BANY : banyan corp ore com no par News , chart, profile, more Last: 0.00+0.00+21.43% 11:51am 01/11/2007 Delayed quote data Add to portfolio Analyst Create alert Insider Discuss Financials Sponsored by: BANY0.00, +0.00, +21.4% ) subsidiary, Virtual Medical Systems, Inc. ("VMS"), announces it has now sold 66 of its new VT3000 Nerve Conduction Velocity (NCV) testing devices since November 2006. The VT3000 is a state of the art NCV device offering live viewing and supervision of testing by board certified physicians. These 66 machines are expected to add $1.58 million in revenue to VMS. The company, in an earlier release, reported that management projected 2007 sales of 144 machines corresponding to $3.4 million in revenue. Now, as a result of these increased sales, management has revised its estimates upward to 166 machines and $3.98 million in revenue. Banyan CEO Michael Gelmon stated, "This is exciting news, but not unexpected. The diagnostic industry has long been waiting for the development of a machine with the properties of the VT3000. In December, 36% of the patients tested in our diagnostic testing subsidiary were being tested utilizing proprietary technology incorporated in the VT3000. We believe our technology should be the gold standard in the industry shortly. In addition, it represents significant growth and long term viability of the VMS model."
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Stoc k doctor sent out an email. This is going to be fun guys.
I remember only few pennies that stockdoc said he liked. One was NVMG that went up 350% next day. Other one was PYPR which went up more than 250% for me and now BANY.
It would be sweet if it goes 200% more over next few days.
Posts: 1206 | Registered: Feb 2006
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i got 100K this morning.. lets hope we get somethign out .. how much did u get before_the_crowd
Posts: 19 | From: charlotte | Registered: Nov 2006
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Banyan Subsidiary, Premier Medical Group Announces 4th Acquisition Wednesday March 21, 12:01 pm ET
LOS ANGELES--(BUSINESS WIRE)--Banyan Corporation (OTCBB:BANY - News), franchisors of nationally branded Chiropractic USA clinics, and owner of Premier Medical Group and Virtual Medical Systems, Inc. (VMS), announced the Acquisition of the customer base of Medical Resources, Inc. of Virginia. Premier Medical Group is now considered to be one of the largest electro diagnostic testing companies in the USA. ADVERTISEMENT
Michael Gelmon, Banyan CEO, speaking to analysts said that this acquisition would add initially about $1.3 million in annual revenue to Premier based on the number and size of accounts acquired, as well as add substantial revenue to VMS. VMS sells the highly recognized VT3000 nerve testing device to medical and chiropractic practices across the United States. "Acquiring revenue streams throughout our operating businesses is a sound approach to bring about rapid growth for Banyan," said Michael Gelmon. "While this is our 4th acquisition for Premier, the potential for continued acquisitions is great as we seek to consolidate the electro diagnostic industry".
"Revenues from Banyan's core businesses are expected to grow to an estimated $7.4 million on an annualized basis, turning the corner to profitability," said Gelmon.
Banyan agreed to pay Medical Resources 30% of the gross collections from its former accounts until the purchase price of $440,000 has been paid in full.
Posts: 869 | From: Az | Registered: Sep 2006
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