WELLINGTON, Fla., Aug. 18 The Quantum Group,Inc. (Amex: QGP) (www.QuantumMD.com), a Wellington, Florida based healthcareorganization, announced today that it has increased the active patient base to3,000 lives using the Renaissance Community Health Systems (CHS) establishedthroughout the state. The 36% growth of the enrolled patient base iseffective as of August 1, 2008, which falls into the fourth quarter of FiscalYear 2008 for the Company.
This growth further demonstrates the continued progress of the Companyconsistent with the objectives set forth by management at the start of thefiscal year; particularly, as this increase has occurred outside of the boundsof the traditional Medicare Advantage open enrollment period.
Noel J. Guillama, President & CEO, commented, "We are pleased to providethis tangible result of our ongoing growth and development as we believe weare on track to meet the benchmarks and goals we set for ourselves in 2006.Much of our work to date has been executed to develop our infrastructure toaccommodate our growth strategy. We are seeing the results of the foundationwe have systematically built as the industry continues to entrust us with themanagement of its patient members and as we welcome more healthcare providersto the 2,000-plus Renaissance affiliated providers. We are currently on trackto achieve our projected 5,000 patient lives and 2,500 affiliated providers bythe end of this calendar year."
Noel J. Guillama and Pete Martinez will be offering additional insightsinto this development as they present at the Fourth Annual Noble FinancialEquity Conference at 5:00 p.m. PDT in Las Vegas, Nevada, and Security ResearchAssociates' 4th Annual Summer Technology Conference at 2:30 p.m. PDT in SanFrancisco, California respectively. Both gentlemen will be presenting toaudiences comprised of buy-side analysts, funds and investors.
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 $600 billion inefficiency gap in the United States healthcare industry. Weare guided by a mission to develop efficiencies, improve the quality ofpatient care and achieve cost reductions for the nation's largest and fastestgrowing 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.
Certain statements contained in this news release, which are not based onhistorical facts, are forward-looking statements as the term is defined in thePrivate Securities Litigation Reform Act of 1995, and are subject tosubstantial uncertainties and risks in part detailed in the respectivecompany's Securities and Exchange Commission 10-KSB, 10-QSB, S-8 and 8-Kfilings (and amendments thereto) that may cause actual results to materiallydiffer from projections. Forward-looking statements can be identified by theuse of words such as "expects," "plans," "will," "may," "anticipates,""believes," "should," "intends," "estimates" and other words of similarmeaning. These statements are subject to risks and uncertainties that cannotbe predicted or quantified and, consequently, actual results may differmaterially from those expressed or implied by these forward-lookingstatements. Such risk factors include, without limitation, the ability of theCompany to properly execute its business model, to raise substantial andimmediate additional capital to implement its business model, to attra