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Banyan Corporation Reports Strong Sales For Its Virtual Medical Systems, Inc. Subsidiary Thursday January 11, 11:15 am ET
LOS ANGELES--(BUSINESS WIRE)--Banyan Corporation's (OTCBB:BANY - News) 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. ADVERTISEMENT
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."
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.
-------------------- I may be wrong, but I don't think so.... Posts: 837 | From: Madison, WI | Registered: Sep 2005
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Thanks to Bull and Dollar13 for keeping us informed. BANY is in good hands now -- those MMs got tons of shares from the bottom, and they will do their best. There will be many shakes, as they need new shares at different levels. This will be a long trip to the top. Just take it easy.
Posts: 3228 | From: Michigan | Registered: Aug 2005
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quote:Originally posted by JimSC: Thanks Dollar13 for keeping us informed. BANY is in good hands now -- those MMs got tons of shares from the bottom, and they will do their best. There will be many shakes, as they need new shares at different levels. This will be a long trip to the top. Just take it easy.
no problem..
look at the huge volume Posts: 4112 | Registered: Jun 2006
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BANY is a good gamble at this level, based on the following reasons:
* News about regional distributors will be announced; * News about goverment approvalas and distributor arrangements in Canada, EU, China, and other counties will be announced; * Possibility of refinancing the loans;
Posts: 3228 | From: Michigan | Registered: Aug 2005
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