Baroma Inc. (BRMA: OTC Pink Current) | BAROMA DTC
BAROMA, INC. OBTAINS DTC APPROVAL TO BEGIN ELECTRONIC TRADING
Miami, FL, May 1st –
Baroma, Inc. (OTCMarket: BRMA) today announced that DTC approved electronic trading for the Company's stock. Baroma’s stock is traded on the Over The Counter Exchange and OTC Markets under the stock symbol, BRMA. The Company owns and operates BAROMA Healthcare International, LLC d/b/a Baroma Health Partners; the first Medicare approved Accountable Care Organization (ACO) based in Miami-Dade County, FL participating in the Medicare Shared Savings Program. The Company’s three-year agreement with The Center for Medicare and Medicaid Services (CMS) allows for the ACO to receive up to half of the savings generated by quality improvement through coordinated care and cost saving initiatives for the Medicare-Fee-For-Services population in South Florida.
Scott J. Backer, CEO of Baroma, commented, “We are very pleased to have been approved by DTC to begin electronic trading. We are expecting excellent financial results for 2013 and are growing our provider network month after month. We have partnered with leaders in health IT, care delivery and regulatory reporting throughout the country and expect continued growth as we expand to other high value markets nation-wide. Baroma has an excellent outlook for our first year’s performance under the MSSP, with our projected population shared savings with Medicare will be approximately $36 million of which we expect, from the trend of January and February reports, revenues approximately at $18 million EBITDA without calculating our expected month to month growth. A PE (price earnings ratio) of fifteen would put our share price in the range of $.90.”
Since January Baroma has more than doubled its network of participating physicians which is estimated beneficiaries of over 10,000 Medicare fee-for-service beneficiaries. In Miami-Dade County, historically one of the nation’s most costly county for Medicare, generating a savings for this population is less difficult than in other service areas. “Targeting waste, fraud and abuse are one of the many strategies we have implemented since our contract took effect in January.” Says Baroma COO Marisela Rodriguez.
Established as an effort to assist at-risk health networks and health plans in minimizing the medical expense, Baroma has developed their ACO delivery model based on the best practices successfully implemented in managed care.
“Our goal is to use tools such as newly developed IT resources in accordance with more developed and coordinated practices implemented in the managed care world to drive innovation in healthcare delivery. Preventative medicine is at the forefront of our initiative to reach the three principle goals of the MSSP: better care for individuals, better health for populations, and slower growth in expenditures for Medicare.” Said Baroma CIO Ricardo Matos.
For more information, please view: www.baromahc.com
Cautionary Statement Regarding Forward-Looking Information
This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate,"
Baroma, Inc. 18495 South Dixie Highway | Unit 269 | Miami, FL 33157 | (888) 315-4490
"anticipate," "believe," "plan" or "expect" or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with mineral exploration and funding as well as the risks shown in the company's most recent annual and quarterly reports on Form 10-K and Form 10-Q respectively, and from time-to-time in other publicly available information regarding the company. Other risks include risks associated with the regulatory approval process, competitive companies, future capital requirements and the company's ability and level of support for its exploration and development activities. There can be no assurance that the company's exploration efforts will succeed and the company will ultimately achieve commercial success. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set for herein and should also refer to the risk factors disclosed in the company's periodic reports filed from time-to-time with the United States Securities and Exchange Commission. This news release has been prepared by management of the company who takes full responsibility for its contents. None of FINRA nor the SEC has approved or disapproved of the contents of this news release. This news release shall not constitute an offer to sell of the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investor Contact: finance@baromahc.com | (888) 315-4490
