ZoomMed Signs an Additional $450,000 Software Development Agreement With Its U.S. Partner "EvEMR"
MONTREAL, QUEBEC--(Marketwire - Oct. 31, 2012) - ZoomMed Inc. (TSX VENTURE:ZMD), is pleased to announce the signature of a second software agreement, totaling $450,000, with EvEMR, to develop and integrate new functionalities into an Electronic Medical Record (EMR) designed for behavioral health providers. This supplemental agreement will be added to an initial $1M software development agreement, which was previously announced on February 16, 2012.
"These two agreements, totaling $1,450,000, are a definite indication of the quality of ZoomMed's products and its software development abilities", said Mr. Yves Marmet, President and CEO of ZoomMed. "Another strong indicator of ZoomMed's performance is the positive EBITDA, recorded in the first quarter of 2013, showing profitability of operations as a result of the sustained efforts and investments made since the beginning", added Mr. Marmet.
The initial agreement provides for the development and commercialization, throughout North America, of an EMR specifically designed for all behavioral health providers. The second agreement provides for the development of a light native application (APP). This APP will be developed to run on both Android and iOS platforms, with the following components; Static DSM-5 reference, interactive DSM-5 and simplified coding tool to determine the appropriate level of billing. In addition, this APP will also be interfaced with ZoomMed's ZRx Prescriber.
It is estimated that there are more than 1,200,000 potential users in the U.S., including Psychiatrists, General Practitioners, Psychologists and Social Workers.
Actually, Psychiatric Diagnoses are categorized by the DSM-4 (Diagnostic and Statistical Manual of Mental Disorders). This manual is published by the American Psychiatric Association (APA) and covers all mental health disorders for both children and adults. Mental Health Professionals use this manual when working with patients in order to better understand their illness, the potential treatment and to help 3rd party payers (e.g., insurance) understand the needs of the patient. The book is typically considered the 'bible' for any professional who makes psychiatric diagnoses in the United States and many other countries. The fifth edition (DSM-5) is currently under preparation and should be published in May 2013 by the APA.
"The ZRx Prescriber reaches new frontiers"
For further information about ZoomMed, visit our Web Site; www.zoommed.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr. Yves Marmet
President and CEO
(450) 678-5457, ext 228