LOS ANGELES, Feb. 21, 2013 (GLOBE NEWSWIRE) -- MediSwipe Inc. (www.MediSwipe.com) (OTCBB:MWIP), a patient security solutions and financial products company for the medicinal marijuana and health care industry, today announced that it has received commission based revenues on over $1,000,000 in elective medical consumer financing for the months of January and February 2013.
"This new vertical market has quickly proven to be an important revenue stream for our company as it utilizes our unique and long time banking relationships as we begin to roll out our payment kiosks over the next two quarters. MediSwipe has the opportunity to become the 'LendingTree' for the elective surgery industry as our banking and financing network can for the most part get anyone approved for plastic surgery, dental work, Lasik, and numerous other procedures with less than perfect credit. In fact, we have an 80% approval rate or better from more traditional lending sources through our physician network of over 3,000 doctors throughout the country participating with our financing program," stated B. Michael Friedman, CEO of MediSwipe Inc.
"We are also in the process of completing two new merchant processing agreements with health care related merchants in the month of February, which we expect to bring approximately $2,000,000 in gross processing volume to our overall portfolio of which MediSwipe will receive agent based commissions. Our goal as always, is to continue to build our revenue models over the course of this year to further enhance shareholder value," further stated Friedman.
About MediSwipe Inc.
MediSwipe Inc. (www.MediSwipe.com) provides innovative patient solutions for electronically processing transactions within the healthcare industry. MediSwipe provides a terminal-based service packages and an integrated Web Portal add-ons for physicians, clinics, hospitals and medical dispensaries that include: digital patient records, Electronic Referrals, Credit/Debit Card merchant services, Check Guarantee and medical elective procedure financing.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe Inc. to be materially different from the statements made herein.