GAITHERSBURG, Md., Jun 26, 2012 (BUSINESS WIRE) — AccelPath, Inc. ACLP -31.97% ("AccelPath" or the "Company") announced today that the Company is working with three pathology laboratories in Texas.
The three pathology laboratories are located near Houston, Texas. Interpretations for these laboratories are provided by the Company's interpretation partner, which has the exclusive rights to interpret all tissue pathology slides processed in these laboratories. In addition, the Company provides consulting services to the laboratories as they transition from non-digital, physical transportation of slides (to the interpretation partner) to eventually complete transmission of both slide and patient information digitally to remote reading site. These laboratories recognize the cost, logistical and other advantages of moving to digital transmission of pathology information and recognize that AccelPath provides the only available practical solution for digital telepathology. These laboratories provide AccelPath with an estimated initial total revenue base of approximately $250,000 per year.
The Company has begun to install and use modules of its proprietary workflow software AccelSlide(TM) in these laboratories. Eventually, these laboratories will utilize AccelSlide(TM)fully to digitize the transport of patient records and digital slide images to reading centers anywhere in the United States and internationally. This workflow software continues to develop, improve and expand while being used by these laboratories. Also, they use AccelSlide(TM), the laboratories provide valuable user feedback to the Company to further improve the workflow software.
"We believe that there are significant benefits to transitioning to digital pathology for our laboratory practice," stated Dr. RM. "After our extensive research into digital telepathology solutions and service providers, we were convinced that AccelPath was the company that had the only viable digital solution. They currently provide us with remote pathology services through a very reputable institutional partner, while we utilize their workflow software solution to transition our practice to become fully digital. Our experience with the Company has been exemplary and we look forward to continuing our relationship."
"We are very pleased with our commercial and collaborative relationship with these three pathology laboratories," stated Shekhar Wadekar, AccelPath's Chairman and Chief Executive Officer. "It is important to have customers who provide exclusive rights to their pathology, while assisting us improve AccelSlide(TM)with "real-time" feedback on our workflow software in addition to generating current revenues for the Company. We plan on expanding our product offerings in this region while we also continue to discuss other regional relationships both in the US and abroad."