Generex Biotechnology Subsidiary NuGenHealth Contracts with Paradise Valley Family Medicine to Provide Chronic Care Management

Generex Biotechnology Subsidiary NuGenHealth Contracts with Paradise Valley
Family Medicine to Provide Chronic Care Management (CCM) and Remote Patient
Monitoring (RPM) Services

-  NuGenHealth Software as a Service (SaaS) platform launch
-  PVFM responds to COVID-19 with connected care solutions to serve their
Medicare patient population

MIRAMAR, Fla.,  Sept.  25,  2020 (GLOBE  NEWSWIRE)  --  Generex  Biotechnology
Corporation  (OTCQB:GNBT)   announces  that   its  newly   formed   subsidiary
NuGenHealth has signed a contract with Paradise Valley Family Medicine  (PVFM)
to provide connected  care solutions  for patient  engagement, Remote  Patient
Monitoring (RPM) and  Chronic Care Management  (CCM) services. NuGenHealth,  a
joint venture  between  Generex  subsidiary  NuGenerex  Health  and  Worldwide
Digitech, LLC (WWDT) will provide  the software, data framework, and  back-end
support for the  NuGenHealth SaaS system  to advance collaborative,  connected
care in order to improve patient  health outcomes for patients under the  care
of PVFM.

The NuGenHealth  system offers  direct savings  to physicians  and  healthcare
organizations both in time and money, allowing the healthcare team to  monitor
patient progress outside the practice office, leading to timely  interventions
and early identification of disease  progression that may prevent  unnecessary
hospitalizations. The  SaaS system  utilizes automated  algorithms,  real-time
data, and quality metrics to involve patients in their own care, while keeping
healthcare providers and family constantly informed.

RPM is the use of digital  technologies to monitor and capture  medical/health
data from  patients  and  electronically transmit  the  information  to  their
providers for assessment, recommendations, and instructions. Providers use RPM
to collect a  wide range of  patient data, including  blood pressure,  weight,
heart rate, and blood sugar levels.

The CCM  benefit  allows  eligible  providers to  offer  services  outside  of
doctor’s office visits to help individuals with two or more chronic conditions
follow their  medical care  plan, practice  preventive health  care, and  more
effectively manage their health.  CCM services are  designed to keep  Medicare
beneficiaries healthier and to prevent unnecessary hospitalizations.  Services
include communication with Medicare beneficiaries and health professionals  to
provide chronic care  management and coordination  in-person, over the  phone,
and electronically.

NuGenHealth provides Bluetooth connected  blood pressure monitors,  electronic
scales, glucose monitors,  and oxygen  sensors, and  the NuGenHealth  software
optimizes workflows for RPM and CCM to collect, analyze, and report  real-time
patient data.

New CPT Codes released by CMS in  2019 provide an incentive for physicians  to
offer better management of chronic conditions using RPM and CCM services.  The
new rules  make  it easier  for  physicians and  healthcare  organizations  to
partner with  health-tech  companies  to  provide  the  software  systems  and
monitoring devices required to launch a  successful RPM program, and with  the
launch of NuGenHealth, the Generex family  of companies is positioned to be  a
leader in this rapidly growing space.

Joe Moscato, President & Chief Executive Officer of Generex said, “We are very
excited to launch NuGenHealth with  our physician partners at Paradise  Valley
Family Medicine, with whom we have been working for the last year to implement
our plans and start this collaboration.  The NuGenHealth SaaS system has  been
beautifully designed by  our development  partners at WWDT,  and their  simple
implementation  process  will  enable  us  to  begin  enrolling  patients  and
generating  reimbursements  for  the   physicians  at  PVFM.  Remote   patient
monitoring is a  service that  was positioned for  significant growth  leading
into 2020, and the  pandemic has only accelerated  its adoption by  physicians
and reimbursements by CMS. Our contract with PVFM is the first of several that
we plan to sign with other physician  practices in the Phoenix area. And  once
NuGenHealth  is  established  in  the   practices,  we  plan  to  launch   our
long-awaited ophthalmology and podiatry businesses to serve the large  numbers
of patients with diabetes  and vascular conditions that  are prevalent in  the
chronic care  population.  We  will  keep our  shareholders  apprised  of  our
progress as we build our end-to-end model for physicians and patients with our
partners in Arizona.”

About Generex Biotechnology Corp.
Generex  Biotechnology  is  an  integrated  healthcare  holding  company  with
end-to-end solutions for  patient centric  care from  rapid diagnosis  through
delivery of  personalized  therapies.  Generex  is  building  a  new  kind  of
healthcare company that extends beyond traditional models providing support to
physicians in  a  GPO network,  and  ongoing relationships  with  patients  to
improve the patient experience and access to optimal care.

In addition to advancing a legacy portfolio of immune-oncology assets, medical
devices, and diagnostics, the Company is focused on an acquisition strategy of
strategic businesses  that complement  existing assets  and provide  immediate
sources of revenue and working capital.

Cautionary Note Regarding Forward-Looking Statements

This  release  and  oral  statements  made  from  time  to  time  by   Generex
representatives  in  respect   of  the   same  subject   matter  may   contain
"forward-looking statements"  within the  meaning  of the  Private  Securities
Litigation  Reform  Act  of  1995.  These  statements  can  be  identified  by
introductory words such as  "expects," "plan," "believes," "will,"  "achieve,"
"anticipate," "would," "should," "subject to" or words of similar meaning, and
by the fact that they do not  relate strictly to historical or current  facts.
Forward-looking statements frequently are used in discussing potential product
applications,  potential  collaborations,   product  development   activities,
clinical studies, regulatory submissions and approvals, and similar  operating
matters. Many factors may cause actual results to differ from  forward-looking
statements, including inaccurate assumptions and a broad variety of risks  and
uncertainties, some of  which are  known and others  of which  are not.  Known
risks and uncertainties  include those  identified from  time to  time in  the
reports filed by Generex  with the Securities  and Exchange Commission,  which
should  be  considered  together   with  any  forward-looking  statement.   No
forward-looking statement is a guarantee of future results or events, and  one
should avoid placing undue reliance on such statements. Generex undertakes  no
obligation to update  publicly any  forward-looking statements,  whether as  a
result of  new information,  future events  or otherwise.  Generex claims  the
protection of the safe harbor for forward-looking statements that is contained
in the Private Securities Litigation Reform Act.

Generex Contact:

Generex Biotechnology Corporation

Joseph Moscato
646-599-6222

Todd Falls
1-800-391-6755 Extension 222

[email protected]

gnbt_logo.jpg

Source Article

Next Post

Bozeman Health celebrates grand opening of new critical care unit

Mon Sep 28 , 2020
The need for medical attention is at an all time high right now, which makes perfect timing for the new intensive care unit at Bozeman Health. With gold scissors in hand, Dr. Andrew Sullivan marked a new chapter for the ICU at Bozeman Health, fully equipped with brand new technology […]