The company has continued to receive a number of inquiries from within North America and from other Eastern European countries. Three of the most recent opportunities from within North America are of the most immediate interest and include introductions to two new States with the expressed desire to geographically expand both the company's diabetic retinopathy screening and paediatric teledentistry programmes.
The third opportunity is an invitation to consider the development of a new telemedical speciality within Canada. The inquiries have come from official bodies such as universities and state funded organisations and represent real opportunities for further and rapid expansion across the USA and Canada.
"Over the years TDS has received a number of unsolicited inquiries for contractual opportunities, mostly from the Eastern European and Asian areas of the world. These more recent invitations are far more attractive and fall well within our agreed marketing strategy for expansion into the United States", stated Roger Coomber, CEO. "We will be actively pursuing these together with establishing the business in Texas and developing the other opportunities that we have already got underway."
The company's subsidiary TDS (Telemedicine) Ltd. established its telemedicine business in the United Kingdom in 1998 with the development of a proprietary method to store and forward diagnostic information electronically in the field of dermatology and now operates nationally in the United Kingdom with a cumulative consultation on behalf of more than 25.000 patients.
tds Dermatology Ltd., the UK operational arm of tds Telemedicine Inc. has expanded its United Kingdom contractual base. Recent marketing initiatives have resulted in advanced negotiations with several Primary Care and Acute Trusts. In the last week, the company has secured a long term contract in Hertfordshire, providing telemedical diagnostic services to the local PCT. In addition, the company will provide nursing input for cryosurgery and patch testing support together with the management of a General Practitioner minor surgery service.
In tandem with this new contract the company has also been advised by one of its existing contractors in Kent that it requires an increase in its current contracting position to cope with staff absences and an increasing throughput. The enhanced activity levels from these two initiatives are anticipated to generate in excess of $250.000 of annual revenues for the foreseeable future. The company will include these added services into its portfolio of services that it offers to third party medical practices in the United Kingdom and in the United States.
These two contractual improvements are indicative of the further expansion that tds Dermatology anticipates in the forthcoming months as the negotiations currently being undertaken reach fruition and add to the improving picture within the United Kingdom and the USA.
According to Cap Gemini Ernst & Young, the global telemedicine market is expected to grow sharply from $2,04 billion in 2000 to $7,29 billion in 2004, a CAGR of 37,5 percent. The United States telemedicine market, the largest in the world for these services, is expected to grow at a similar pace to reach a size of $6,43 billion in 2004. More news on TDS Telemedicine can be found in the VMW June 2003 article TDS Telemedicine store and forward diagnostic services right business at right time in USA.