WELLINGTON, Fla., Dec. 31 During a year-endreview with employees of The Quantum Group, Inc. (NYSE Alternext US: QGP)(http://www.QuantumMD.com), a solutions provider for the healthcare industry,President & CEO Noel J. Guillama congratulated employees on the growth ofCompany revenues and expansion of business lines. Guillama, in collaborationwith the executive team, also offered his vision of Company developments inthe upcoming year.
Guillama remarked, "Operationally, 2008 was a notable year for Quantum.We saw the achievement of many goals, realized approximately 400% growth inrevenues, and earned the recognition of numerous industry leaders, potentialhigh-level strategic partners and competitors. Our healthcare informationtechnology platform, PWeR(TM) (Personal Wellness electronic Record) wassuccessfully launched at The Caridad Center, the largest free clinic in PalmBeach County, Florida and has since been well received by providers,hospitals, governmental agencies and leaders both domestically andinternationally. We have filed 18 provisional patents in support of PWeR andexpect to continue this trend of innovation into 2009 as we systematicallydeploy PWeR to healthcare providers, hospitals and patients. We believe theopportunities ahead for PWeR will take Quantum to new heights with regard toour revenues and exposure to the healthcare industry at-large."
"Renaissance Health Systems continues to be the strong foundation of ourorganization," Mr. Guillama continued. "We have expanded our footprint as weadded three Florida counties and in turn added new faces to our affiliatedproviders. We are in the midst of the Open Enrollment period for MedicareAdvantage and expect to release updated numbers early in 2009. Further, ourunique model has been met with requests to expand beyond Florida and we areexploring each of these opportunities carefully to ensure the continuation ofour solid growth pattern. Our network has been enhanced through the valuableservices and solutions deployed this year, most recently with the announcementof QMed Purchasing, a unique opportunity for healthcare providers tostreamline their ordering process as well as to realize cost savings on theireveryday clinical and office supplies and medical and office equipmentpurchases."
Mr. Guillama recited Company achievements in the year 2008 which included,among others, state approval of the TPA (Third Party Administrator)Application for subsidiary company, Renaissance Administrative Solutions(RASI), continued growth of the patient base, expansion of payer contracts toprovide for statewide growth, deployment of a web-based portal for Renaissanceproviders, employee incentive program designed to foster innovation.
Finally, expressing gratitude on behalf of the Quantum executive team,Guillama noted the high level of talent and dedication demonstrated by theemployees of Quantum. "Each of you has greatly contributed to the achievementswe have made together as a Company this year. Each of you is an equity owner,and this is your Company. The level of devotion and perseverance towardexcellence within this organization is second to none. It is my distinctprivilege to work alongside of each of you."
About The Quantum Group, Inc.
The Quantum Group provides business process solutions, service chainmanagement, strategic consulting and leading edge technology innovations tothe healthcare industry.
Through our dynamic patient-centric architecture, we empower thecommunication that is critical for the coordination of care and take aim atthe estimated $700 billion inefficiency gap in the United States healthcareindustry. We are guided by a mission to develop efficiencies, improve thequality of patient care and achieve cost reductions for the nation's largestand fastest growing industry.
We have developed leading-edge technology with the creation and deploymentof a series of innovative patent-pending initiatives. Through approximately2,000 healthcare providers and multiple insurance company relationships undermanagement, we are positioned to be a catalyst for change to the Floridahealthcare industry.
In this announcement, the Company has given guidance based on preliminaryresults from its patient lives under management. Actual results may varysubstantially in part due to the actual reporting by the health plan partnersunder contract including the number of assigned patient lives, enrollments,and retroactive disenrollments. The Company is not required to file updatesand/or changes to this guidance prior to the filing of the audited Fiscal Year2008 results to the Securities and Exchange Commission. Certain statementscontained in this news release, which are not based on historical facts, areforward-looking statements as the term is defined in the Private SecuritiesLitigation Reform Act of 1995, and are subject to substantial uncertaintiesand risks in part detailed in the respective company's Securities and ExchangeCommission 10-KSB, 10-QSB, S-8 and 8-K filings (and amendments thereto) thatmay cause actual results to materially differ from projections.Forward-looking statements can be identified by the use of words such as"expects," "plans," "will," "may," "anticipates," "believes," "should,""intends," "estimates" and other words of similar meaning. These statementsare subject to risks and uncertainties that cannot be predicted or quantifiedand, consequently, actual results may differ materially from those expressedor implied by these forward-looking statements. Such risk factors include,without limitation, the ability of the Company to properly execute itsbusiness model, to raise substantial and immediate additional capital toimplement its business model, to show 2008 fiscal year revenues in the rangediscussed in this press release, to continue revenue growth trend in fiscalyear 2009, to attract and retain executive, management and operationalpersonnel, to continue growing its patient base, to negotiate favorablecurrent debt and future capital raises, to negotiate favorable agreements witha diversified provider base and to continue to supply the services needed byits HMO clients as well as physician clients. The Company does not undertakeany obligation to publicly update any forward-looking statements. As a result,investors should not place undue reliance on these forward-looking statements.FOR MORE INFORMATION, PLEASE CONTACT: PR Financial Marketing Jim Blackman: 713-256-0369 [email protected]
or The Quantum Group, Inc. Danielle Amodio: 561.798.9800 [email protected]
SOURCE The Quantum Group, Inc.