Update On Patient Access Solutions (PASO)
We were able to talk to the CEO of PASO today. We are very excited about the electronic medical records products the Company recently introduced. The Company has now gone live with the product and is taking orders. According to the CEO, demand and interest are both strong. He indicates that interest in the digital pen and paper technology is also strong.
A couple of weeks ago PASO signed an exclusive deal with Catrel AB Sweden where Patient Access Solutions will became the exclusive U.S. Mobipen™ partner targeting the $55 Billion U.S. home healthcare market. Mobipen is a digital pen application, based on Anoto technology, for the home healthcare industry that takes handwritten documents and turns them into usable data that can be stored in computer systems. The technology allows for faster and more efficient documentation of patient care, improved document retention, better flow of information from the point of patient care into both electronic medical record and traditional healthcare oriented information technology environments. In Europe this product is selling well and if PASO can replicate this success here in the U.S., it will be able to drive substantial revenue growth.
Last week the Company announced that it has posted its financial statements for the nine month quarter ended July 31, 2009 on pinksheets.com. Patient Access Solutions is now in process of preparing its audited financial statements for the year ended October 31, 2009. These actions will likely lead to movement of trading to the OTC markets.
It looks like PASO is on track doing what they said they would do. We will be watching closely to determine the revenue ramp up of both of these new product lines. Joe Noel
