Company will provide enabling technology to growing Chinese industry.
RENO, Nev., April 12, 2011 /PRNewswire/ -- Visual Healthcare Corp. (the "Company") (NASDAQ OTC: VSHC) announces today that work has begun on a Chinese based adaptation of the information technology grid that its clients use in their clinical trial applications.
This project has been launched in response to requests from both Chinese academic centers as well as Clinical Research Organization experts responding to Chinese government resolve to create a major domestic drug industry.
In 2007, the Chinese government had enacted a series of laws designed to create significant incentives in order to foster a fast-growth environment for the creation of a large scale pharmaceutical sector. While actual drug manufacturing has been growing, the complexities of running clinical trials according to Western standards has proved a more difficult challenge.
Many U.S. based CROs intend to support Chinese efforts as they see benefits from these developments such as the potential for off shore clinical trials at much lower cost. China may prove to be fertile ground for clinical trials with its large population which may ease hurdles ranging from cost, patient recruitment delays, patient compliance during participation, qualified professionals, new clinical trial patients, and other problems.
"Operating pharmaceutical testing facilities and clinical trials in China will require compatible software to manage their information gathering and data mining procedures," says Chairman Gerard Dab. "Yes it is a new market and it has some challenges such as conveying novel notions like informed consent but we believe that we can leverage our Chinese experience to generate significant business in helping this budding Chinese industry."
Although health is provincial or local, the central government now allocates special budgets to hospitals for acquisition of new technology, a move that will help usher in modern clinical trials. Another critical success factor may be our proven ability to secure active support from leading academic communities, vital for both best-practice and scientific credibility.
ABOUT VISUAL HEALTHCARE
Visual Healthcare Corp., since 1998, designs, creates and develops innovative information platforms, specifically conceived for the automation of a wide range of scientific disciplines. These include pharmaceutical research, clinical trials, laboratory automation, true quality assurance tools, total quality control applications, and quantitative analytic tools such as proprietary frameworks for electronic health records, electronic prescription, infection and disease control, and smart cancer registries. The company's extensive portfolio of proprietary technologies is the result of a unique collaboration between senior clinicians from the McGill University Faculty of Medicine and affiliated tertiary care centers, medical software architects, and a Fortune 100 healthcare service company, investing some $50 million in the process. The Company licenses its technology to operating companies in exchange for an equity stake or a royalty stream. It owns significant stakes in various companies including VisualMED Clinical Solutions Corp. (NASDAQ OTC: VMCS), a leader in the field of electronic health records.
For more information, please visit: www.visualhealthcarecorp.com.
FORWARD- LOOKING STATEMENTS
Except for historical information provided herein, this press release may contain information and statements of a forward-looking nature concerning the future performance of the Company. These statements are based on suppositions and uncertainties as well as on management's best possible evaluation of future events. Such factors may include, without excluding other considerations, fluctuations in quarterly results, evolution in customer demand for the Company's products and services, the impact of price pressures exerted by competitors, and general market trends or economic changes. As a result, readers are advised that actual results may differ from expected results.
SOURCE Visual Healthcare Corp.