Attis Industries Secures Commitments from Long Term Care Partners Covering 27 Facilities
Sophisticated Diagnostic Testing Has Commenced and Should Reach More Than 3,500 Beds
MILTON, GA, May 14, 2018 (GLOBE NEWSWIRE) -- Attis Industries, Inc. (NASDAQ: ATIS) (the “Company” or “Attis”), an integrated technology and innovations holding company, today announced commitments from three separate corporations to provide molecular pathogen testing in their long term care facilities. The testing is expected to occur on a monthly basis in these facilities and yield recurring revenue for Attis.
The corporations that have agreed to partner with Attis Healthcare, a division of Attis, collectively operate approximately 27 facilities with combined beds in those facilities of approximately 3,500. Testing has already begun in several of the facilities and Attis expects to expand into the other facilities in the coming months. Molecular pathogen testing offers health care providers specialized, detailed information on infections and their causes, as well as targeted information on the appropriate antibiotic treatment for each infection. The testing allows health care providers to provide better quality care while adhering to federal guidelines for the prescription of antibiotics. Because the test results are provided within 12 to 24 hours of receipt of the swab, health care providers get this detailed, targeted information much more rapidly than the traditional method of culture testing.
Attis Industries Chief Executive Officer, Jeff Cosman, commented, “Molecular pathogen testing improves the quality of medical care provided by health care providers and enables patients to receive appropriate treatment in a quicker, more efficient manner. We believe this testing will become the standard of care. Through this commitment from our partner corporations, Attis will be able to offer this testing to a broader base of patients, improving patient outcomes and quality of life on a significant scale. We fully expect to continue to gain commitments from other long term care facilities across the country, and because this testing can occur on a monthly basis in these facilities, these commitments should yield recurring revenue for Attis.”
Attis Industries, Inc.
Attis Industries, Inc. (NASDAQ: ATIS) is a holding company defined by our commitment to servicing our customers with unwavering respect, fairness and care. We are focused on finding and implementing solutions for the resource needs and challenges of our customers with a fundamental objective to seek rewarding solutions through technology and innovation. Our healthcare business centers on creating community-based synergies through collaborations and software solutions. Our innovation business strives to create value from recovered resources. For more information, visit: www.attisind.com
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “should,” “would” or similar words. You should consider these statements carefully because they discuss our plans, targets, strategies, prospects and expectations concerning our business, operating results, financial condition and other similar matters. These statements are subject to certain risks, uncertainties, and assumptions, including, but not limited to, risks and uncertainties relating to the Company's ability to develop, market and sell products based on its technology; the expected benefits and efficacy of the Company's products and technology; the availability of substantial additional funding for the Company to continue its operations and to conduct research and development, clinical studies and future product commercialization; and, the Company's business, research, product development, regulatory approval, marketing and distribution plans and strategies; the ability of the Company to continue to meet the listing requirements of NASDAQ; the ability of the Company to execute on a business plan that permits the technologies and innovations businesses to provide sufficient growth, revenue, liquidity and cash flows for sustaining the Company’s go-forward business, and the risks identified and discussed under the caption “Risk Factors” in the Attis Annual Report on Form 10-K for the fiscal year ended December 31, 2017, filed with the Securities and Exchange Commission (the “SEC”) on April 16, 2018 and the other documents Attis files with the SEC from time to time. There will be events in the future, however, that Attis is not able to predict accurately or control. Attis’s actual results may differ materially from the expectations that Attis describes in its forward-looking statements. Factors or events that could cause Attis’s actual results to materially differ may emerge from time to time, and it is not possible for Attis to accurately predict all of them. Any forward-looking statement made by Attis in this press release speaks only as of the date on which Attis makes it. Attis undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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Released May 14, 2018