CEDARHURST, N.Y., July 29, 2003 (PRIMEZONE) -- Consumers Financial Corporation (the "Company") (OTCBB:CFIN) announced today that through its subsidiary, P.E.T. Centers of America, LLC, it has identified a location for its first P.E.T. Imaging Center in Setauket, New York.
The Company is in the process of negotiating a lease of approximately three thousand square feet of medical space in the Stony Brook Technology Park, and has received preliminary floor plan specifications from the P.E.T. manufacturer.
The Company and its principals have also identified several other areas within the five boroughs of New York to locate four additional P.E.T. Imaging Centers. Each center carries a fully amortized cost of approximately 3 million dollars, with each Center conservatively producing approximately 3.2 million in gross revenue, with a net income of about $1,250,000, which equates to a 40% margin.
Jack Ehrenhaus, Chairman and CEO of Consumer's Financial Corporation stated, "We are excited to become a health care provider that will efficiently manage patient care in partnership with the medical community, thereby enabling the Managed Care Organizations to reduce their medical costs within the areas of oncology, cardiology and neurology."
Positron Emission Tomography Imaging (P.E.T.) is the fastest growing diagnostic imaging procedure in medicine today. P.E.T. is a sophisticated camera that produces powerful images of the human body's metabolic activity, rather than anatomy. Therefore, P.E.T. identifies not only the active disease process earlier than most other diagnostic tests, but also identifies the progress of disease and the response to treatment. The low-level radioactivity detected by P.E.T. generates images for diagnosis and treatment. P.E.T. scan results show areas of abnormal glucose metabolism and identify precisely where disease is located, facilitating appropriate medical management based on the findings. Brain disorders, heart disease and most cancers can be identified using P.E.T. imaging.
About Consumers Financial Corporation
Consumers Financial Corporation (Consumers) is a diversified holding company committed to creating shareholder value through growth. The Company focuses on selective medical technologies, real estate and construction management. They are based in Cedarhurst, New York with satellite offices in Chicago, IL and Camp Hill, PA.
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Information in this press release contains forward-looking statements that involve risk and uncertainties that might adversely affect the "Companies" operating results in the future to a material degree. Such risks and uncertainties include, without limitation, the ability of the Company to raise capital to finance acquisitions and/or mergers contemplated, and the establishment of an efficient corporate operating structure as the Company grows.