"We have big plans for Premier on a go-forward basis and expect significant further revenue growth. Based on current projections, we expect Banyan to be profitable by the 2nd Quarter of this year."
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"The Food and Drug Administration granted marketing approval for the VT3000. The distribution of this machine is expected to increase future revenues and profitability"
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PR LOS ANGELES, CA--(MARKET WIRE)--Mar 30, 2006 -- Banyan Corporation (OTC BB:BANY.OB - News) subsidiary Premier Medical Group announces that internal testing for their new VT3000 Electro-Diagnostic Testing machine is now complete and will go to live Beta Testing starting next week. Once Beta testing is complete, Premier will begin to market the VT3000 direct to physicians across the United States. ADVERTISEMENT
The VT3000 is an electro-diagnostic testing device used by physicians to detect neurological problems or compression of the nerves throughout patient extremities. The VT3000 allows for greater access and ease of testing than the current protocol. The Food and Drug Administration (FDA) granted 510(k) marketing approval for the VT3000 on October 27, 2005.
Commenting on the new Electro-Diagnostic Testing machine, Banyan CEO Michael Gelmon said, "We expect the VT3000 to revolutionize the electro-diagnostic testing industry. The convenience and ease of testing will greatly improve service to doctors and therefore increase patient volume. In addition, marketing the VT3000 adds another revenue stream for Banyan Corporation."
For more information on Chiropractic USA, Diagnostic USA, and Premier Medical Group contact Banyan Corporation Investor Relations toll-free at (800) 808-0899 or visit www.chiropracticUSA.net.
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 chiropractic clinics under its marks and uniform operating systems and practices. The company's other subsidiaries, Premier Medical Group LLC and Diagnostic USA, Inc., provide diagnostic testing to physicians nationwide.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Banyan Corporation) contains statements that are forward-looking, such as statements relating to the future anticipated direction of the high technology industry, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Banyan Corporation. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financing activities, domestic and global economic conditions, changes in federal or state tax laws, and market competition factors. For a description of additional risks and uncertainties, please refer to Banyan's filings with the Securities and Exchange Commission.
Contact: Contact: Michael Gelmon CEO Banyan Corporation (800) 808-0899 e-mail: adavis*chiropracticusa.net http://www.ChiropracticUSA.net
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