Tarrytown, NY (PRWEB) September 16, 2014
RestorixHealth, a leader in developing and managing comprehensive wound care centers, has finalized a merger agreement with Paradigm Medical Management. The combined companies, operating under the RestorixHealth name, will create one of the largest networks of wound care service providers in the country.
Chronic wounds are a significant health problem affecting millions of people. It is estimated that in excess of $25 billion is spent annually on the treatment of chronic wounds and that number is growing rapidly due in part to a sharp rise in the incidence of obesity and diabetes as well as an aging population. With 70% of all pressure ulcers occurring in the geriatric population and complications of diabetes claiming approximately 100,000 limbs annually in the United States, the demand for specialized wound care centers increases.
“This complementary combination of wound care management companies brings significant opportunity to our hospital partners,” said Steve McLaughlin, CEO. “With an increased reach and diverse staff, patients will have the advantage of being part of a stronger nationwide company, well positioned to meet the growing needs of those suffering from nonhealing wounds.”
Under the terms of the agreement, the merged companies will maintain RestorixHealth’s current senior level management team of Chief Executive Officer Steve McLaughlin, President and Chief Operating Officer Dave Walz, Chief Financial Officer Patrick Seiler and Chief Medical Officer Bob Bartlett, M.D. Joining the senior management team from Paradigm are former Chief Executive Officer Diane Boone who will now serve as Senior Vice President of Amputation Prevention Centers of America, former President Miguel Sandoval who will serve as Senior Vice President of Managed Care and Lee C. Rogers, D.P.M., who will remain as Medical Director of Amputation Prevention Programs.
“Since its start, RestorixHealth has excelled in providing superior wound care to its patients,” said Diane Boone. “By merging our two companies into one comprehensive program, we are better able to serve the nation as a whole and continue Paradigm’s philosophy of limb salvage.”
The integration of the two companies was finalized on September 12.
RestorixHealth develops and manages comprehensive wound care centers of excellence that offer advanced treatment therapies along with hyperbaric oxygen therapy. Founded by physicians in 1997 to treat the growing incidence of chronic, non-healing wounds, RestorixHealth’s centers utilize a quality- and data-driven approach to consistently achieve high treatment success rates, resulting in a dramatic increase in patient quality of life. The company currently manages comprehensive centers throughout the United States in partnership with hospitals and health care facilities. For more information, visit http://www.restorixhealth.com.
About Paradigm Medical Management
Paradigm Medical Management is a progressive company, experienced in setting up and managing solid and successful wound care, amputation prevention and hyperbaric medicine centers in partnership with acute care hospitals. The company’s diversity of experience and dedication to excellence set its amputation prevention programs apart, and have earned Paradigm Medical Management its position as a leader in the practice of ensuring the highest level of care for patients facing the possibility of limb loss. For more information, visit http://www.pmmhealthcare.com.