May 23, 2018

Targeted Medical Pharma Signs to Assign Certain ARs to Cambridge Medical Funding

Los Angeles, CA -(BusinessWire)- 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.”

Source: BusinessWire

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