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Mr. Bob Schwartz, COO of Southwood, stated, "We have been looking forproducts and services which would compliment our core business and give ourthousands of current Physician Practices, as well as our new practices, viableproducts to help them check their patients' eligibility and then ensure thatthey will be paid for their services. MedCom provides these products on itsfast user-friendly Web Portal. Southwood's comprehensive services are designedto enhance in-office dispensing, which allows for added revenue for thepractice and convenience for the patient as they can get their prescriptionsfilled at the office at time of visit."
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Mr. Bill Williams, President and CEO, MedCom USA, stated, "We are veryexcited to work with Southwood who will be offering our services through theirexisting nationwide distribution channels. The calendar year 2007 has been ayear of change for MedCom; by transitioning primarily over to the Web Portalplatform from a Point of Service Terminal, we have been able to cut our costof sales and reduce our overhead dramatically. Cost of deliverables for thequarter ended September 30, 2007 decreased 60% as compared to 2006. Thistransition has also allowed us to reduce our operation staff by two thirds."
The completion of the Check Guarantee/EFT program on the Web Portal nowgives MedCom a unique distinction of being able to offer a full complement ofpayment options on-line for the Physician/Dental offices and Hospitals.
The company has also had to recruit a sales force more adept in sellingonline services. With the offering of the largest real time patienteligibility, easy pay and online check guarantee services on a user-friendlyWeb Portal, we are looking for 2008 to be a year of growth without having toincrease our infrastructure.
MedCom owns approximately 40% of the issued shares of Card ActivationTechnologies Card Activation Technology (OTC Bulletin Board: CDVT), owners ofa patented point-of-sale technology for the activation and processing oftransactions related to debit styled cards, which include gift cards, phonecards and other stored value cards. MedCom spun out Card ActivationTechnologies in 2006 into a separate trading company due to the huge potentialfor licensing of the company's technology in the prepaid card market. TheFederal Reserve Bank of Philadelphia estimated prepaid card market to bevalued in excess of $181.7 billion in transactions in 2006. For furtherinformation about Card Activation Technologies go tohttp://www.cardactivation.com
About MedCom USA, Inc. -- MedCom USA, Inc. (EMED) provides innovativesolutions for electronically processing HIPAA compliant transactions withinthe healthcare industry. MedCom USA provides a Web Portal for medical anddental professionals as well as healthcare institutions. MedCom USA offers itsclientele the ability to facilitate the following transactions: Real-timePatient Eligibility, Patient Easy Pay, Merchant Processing, Electronic CheckGuarantee Service. http://www.medcomusa.com
About Southwood Medical Marketing. -- Incorporated in 1989 to focus onsupplying prepackaged prescriptions to dispensing physicians. Building from alocal client base, the company gradually expanded to become one of the largestdrug repackagers in the country. As one of the pioneering companies in theindustry, Southwood has watched other
