Provident Group Completes Financing for MEDirect Latino, Inc. – Hispanic Focused Medicare Health Care Provider
Provident Group announced the completion of an early stage financing round for MEDirect Latino, Inc. (MEDirect), a Florida-based company focused on distributing Medicare-reimbursed products to the US Hispanic community for the monitoring and treatment of chronic diseases, focusing on Type I & II diabetes. MEDirect is the first Company to focus nationally on the rapidly growing Hispanic market for Medicare reimbursed products and services to a community that the US Centers for Disease Control and Prevention (CDC) Atlanta, GA., report is disproportionately impacted by the effects of diabetes relative to the general US population.
New York, NY (PRWEB) January 20, 2004 –- Provident Group announced the
completion of an early stage financing round for MEDirect Latino, Inc.
(MEDirect), a Florida-based company focused on distributing Medicare-reimbursed
products to the US Hispanic community for the monitoring and treatment of
chronic diseases, focusing on Type I & II diabetes. Proceeds from the
financing have been allocated for spot television market testing of the
Company’s national Spanish-language advertising campaign on Univision and
Telemundo, continued beta testing of the Companies’ HIPAA compliant electronic
protocols, Customer Service Intake and Medical Billing divisions. Additionally,
the Company successfully formalized its direct electronic data billing feeds to
the Centers for Medicare & Medicaid Services (CMS). MEDirect has already
initiated advertising in select markets. Participants in the financing included
Provident principals and shareholders.
MEDirect is the first Company to
focus nationally on the rapidly growing Hispanic market for Medicare reimbursed
products and services to a community that the US Centers for Disease Control and
Prevention (CDC) Atlanta, GA., report is disproportionately impacted by the
effects of diabetes relative to the general US population. Pavlos Mavrides, Head
of Investment Banking for Provident Group commented from its NY headquarters:
“This financing represents an important milestone for MEDirect, enabling it to
implement its business model on an an authentically countrywide basis and to
focus on the rapidly growing but underserved US Hispanic market. The deal is
also a watershed event for Provident, reflecting its first foray into the
increasingly important US Hispanic market, leveraging our expertise in the Latin
American capital markets.”
Debra Towsley, President of MEDirect Latino
Inc., added from MEDirect’s Fort Lauderdale, Florida headquarters: MEDirect
Latino represents the first effort to tap into the needs of the nations’ elderly
Hispanic market by creating a business model that overcomes the barriers which
have traditionally prevented this community from accessing quality medical care
for what amounts to an epidemic disease. MEDirect’s model has been carefully
engineered to overcome the cultural and linguistic factors that have created
these barriers and enables Medicare-eligible customers to receive medical
supplies on a direct-to-home basis without any initial out-of-pocket costs by
contacting our Customer Care Center, which is staffed by Spanish-speaking and
trained diabetic educators. We look forward to bringing primary healthcare
directly to the homes of our Hispanic community.”
Provident Group is an
international investment bank focused on providing mergers and acquisitions,
capital-raising, and corporate finance advisory services to companies in the
Americas and enterprises servicing the US Hispanic community, as well as
developing asset management products for its client base.
Contact
Information:
Provident Group:
Steve Carlson – Chairman
Tel: (212)
742-1852
E-mail: e-mail protected from spam bots
Banking
Pavlos
Mavrides – Head of Investment
Tel: (212) 742-1851
E-Mail: e-mail
protected from spam bots
MEDirect Latino, Inc.:
Debra L. Towsley –
President
Tel: (954) 321-3540
E-Mail: e-mail protected from spam
bots
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Source : http://www.prweb.com/releases/2004/1/prweb99736.htm