MIRAMAR, Fla.--(BUSINESS WIRE)--Generex Biotechnology Corporation (www.generex.com) (OTCQB:GNBT) (http://www.otcmarkets.com/stock/GNBT/quote) is pleased to announce the launch of NuGenerex Distribution Solutions, and the commencement of business operations enabled through the acquisition of certain operating assets of Veneto Holdings, L.L.C., as announced on October 9, 2018.
NuGenerex Distribution Solutions (NDS), an affiliate of Generex, has begun implementing its plan to provide essential management services to an extensive network of top-tier ancillary service providers, including pharmacies, laboratories, diagnostic imaging centers, and durable medical equipment manufacturers.
Generex Chief Operating Officer, Terry Thompson, stated, “Generex will be providing centralized insurance adjudication, product procurement, and other support services that allow the acquired assets to increase revenue and service quality, decreasing costs, while focusing on providing better patient care. On November 1, 2018, when the anticipated second phase of the acquisition of the Veneto assets is completed, NDS will be able to expand its management services to include legal and regulatory compliance, accounting, HR, IT and other support services to the current and future acquired assets. One of the key benefits of the acquired assets is that they will allow NDS to begin developing its chronic care management and medication therapy management service initiatives by utilizing their dedicated call centers and technology infrastructure in 2019.”
Mr. Thompson continued, “NDS benefits the medical community by providing cost effective ancillary services that ultimately deliver better outcomes and enhance the doctor-patient relationship. Utilizing our proprietary pharmacy workflow management systems and dedicated call centers, we will be able help our ancillary service providers, physicians, and patients to better coordinate healthcare services from diagnosis through treatment and follow-up. Over and above the services we provide to pharmacies, one of the keys to the historical success of this model is managing how the pharmacy network provides topical non-opioid treatments that physicians can utilize for their patients for pain management. This helps combat the current opioid epidemic by significantly reducing the risk of addiction to oral pain medications, lowering overall cost to the healthcare system and providing better patient outcomes. We are excited about the repurposing of the Generex family of companies and look forward to growing this proven model that provides compliant operational efficiency for providers, transparency for payers, and convenience that enhances patient satisfaction throughout the continuum of care,” Mr. Thompson concluded.
Generex Chief Medical and Scientific Officer, Dr. Jason Terrell, added, “NDS will provide a broad range of outstanding services to benefit patients and physicians alike. The launch of NDS allows us to have an immediate impact on patient care and provides the foundation to support our rapid growth and expansion into other areas in healthcare. NDS represents another successful advancement to our overall goal to improve patient care through innovative products and services.”
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