Los Angeles, November 27, 2012 — Targeted Medical Pharma, Inc. (OTCQB: TRGM) (OTCBB: TRGM), a specialty pharmaceutical company that develops and sells prescription medical foods to physicians and pharmacies for the treatment of chronic disease, today reported the completion of an agreement under which certain accounts receivables will be assigned to New Jersey-based Cambridge Medical Funding Group, LLC (CMFG).
Under the terms of the agreement, medical providers who purchase products from Targeted Medical Pharma will have the option to assign certain accounts receivables from California Workers’ Compensation benefit claims to CMFG at a discounted rate.
“This agreement permits Targeted Medical Pharma to more quickly collect outstanding amounts owed to the company by physicians who will purchase our products, providing us with more opportunities to accelerate growth because of the improved time-to-collection,” said William Shell, M.D., CEO of Targeted Medical Pharma. “Physicians also will benefit from the reduced time spent on the billing and collection process and avoid lengthy delays in workers’ compensation payer reimbursements.”
About Cambridge Medical Funding Group, LLC
Based in Glen Rock, New Jersey, Cambridge Medical Funding Group provides specialized finance solutions to hospitals, surgical centers and medical providers, purchasing receivables and providing guaranteed upfront payments to these providers.
About Targeted Medical Pharma, Inc.
Targeted Medical Pharma, Inc. is a specialty pharmaceutical company that develops and sells prescription medical foods to physicians and pharmacies for the treatment of chronic disease, including pain syndromes, obesity, sleep and cognitive disorders. The company manufactures nine proprietary prescription-only medical foods, as well as 48 convenience packed kits, which pair a medical food and branded or generic pharmaceutical. These prescription medical food products and therapeutic systems represent a novel approach to the management of certain disease states, focusing on safety and efficacy without the deleterious side effects of traditional, high dose prescription drugs. Based in Los Angeles, the company’s proprietary pharmaceutical therapeutic systems are currently sold in the United States, Japan, and the Middle East. Targeted Medical Pharma also provides billing and collection services on behalf of dispensing physicians.
Forward Looking Statement
This press release about an agreement with Medical Funding Group, LLC may contain forward-looking statements related to Targeted Medical Pharma’s business strategy, outlook, objectives, plans, intentions or goals. The words “may,” “will,” “should,” “plans,” “explores,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Actual results could differ materially. Targeted Medical Pharma expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company’s expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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