Medical Therapeutics, a concierge medical service providing aging and sexual health therapies and unit of View Systems (OTCPK:VSYM), continues to be a focus of growth for the parent company.
So far this year, the division has expanded its staff, reached agreements with major credit facilities to offer credit options to customers and posted a profitable quarter, although few details on the profitability were provided. Tuesday morning, the company said that it is adding a new facility in Monroeville, Pennsylvania - in Pittsburgh's medical district - to complement its operations in Baltimore.
Medical Therapeutics specializes in the diagnosis and treatment of Erectile Dysfunction, Premature Ejaculation and Testosterone Restoration.
View Systems provides security and surveillance products to law enforcement facilities such as correctional institutions as well as to government agencies, schools, courthouses, event and sports venues, the military, and commercial businesses.
For the last three quarters, little news has come from the parent company on its legacy operations, with the focus almost exclusively on Medical Therapeutics.
The View Systems company has been working on this new clinic for some time, promising last month that it is opening an office in Pittsburgh this summer, as well as another clinic in Chicago during the fall.
The Pittsburgh facility was the home of a former competitor that went out of business two years ago because of the owner's family and legal issues, leaving behind a database of about 2,700 patients and a business that was generating $1.8 million per year in revenue.
Medical Therapeutics has been actively contacting these patients about the re-branding and re-opening of the business, resulting in over 70 appointments already on the schedule.
Further, the company added that primary care physicians have reached out to convey that they will be referring patients to the Medical Therapeutics clinic as an alternative to traditional drugs that sometimes stop working or are accompanied by unpleasant side effects.
Tuesday's news arrived before the markets opened. Traders may take interest in the possible revival of nearly $2 million in business for a company still sporting a market cap of well under $1 million. Shares of VSYM closed down 12% on Monday at $0.0022 on minimal volume of approximately 20,000.
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