DEERFIELD BEACH, Fla., Feb. 11, 2004 (PRIMEZONE) -- Florida HealthSource, a division of iBX Group, Inc. (OTCBB:IBXG) that operates a statewide network of multi-disciplinary healthcare centers, has opened its flagship physical therapy and rehabilitation clinic in Boca Raton, Fla. The opening coincides with the launch of Florida HealthSource's updated and enhanced web site www.floridahealthsource.com.
The Boca Raton center is expected to generate an estimated $600,000 in revenue during the next 12 months, and the revenue forecast for Florida HealthSource remains steady at $6 million for 2004. Results from the consolidated subsidiaries of iBX Group for 2003 are expected within the next two weeks.
The Florida HealthSource clinic, located near a prominent medical center and university in Boca Raton, features a variety of physical therapy, occupational medicine, rehabilitation, pain management, and chiropractic care. Dr. Michael A. Marks, director of Boca Raton's Somerset Chiropractic Center, will serve as Clinic Director. Dr. Marks has been practicing in South Florida since 1988 and is distinguished as an expert medical advisor by the state of Florida.
"This unique wellness-center concept, which brings so many healthcare services under one roof, has already been successful at other Florida HealthSource locations throughout the state," said Matthew Sarnelli, Managing Director for Florida HealthSource, which also maintains a statewide physicians' referral network state of Florida. "In addition to filling in some gaps we see in patient care in South Florida, the Boca Raton clinic is an important cog in our overall strategy for the division. It will be used to feature several of our new healthcare products, as well as iBX's menu of financial, administrative and technology services designed for business management within healthcare."
Florida HealthSource's re-developed Web site features a comprehensive overview of the company's products, services and locations, as well as detailed information for healthcare providers seeking to join the physicians' referral network.
Based in Deerfield Beach, Florida, iBX Group Inc. develops and deploys creative, cost-effective methods for integrating financial, administrative and information services for the healthcare industry. iBX is a results-oriented company, consisting of six divisions -- iBX Technologies, which enables healthcare organizations to maximize collections of their accounts receivables; Florida HealthSource, a network of physical therapy and wellness centers; MediCompliant Solutions, which ensures medical practices' compliance with today's complex legal requirements; iBX Transcription Services, which offers physicians quick turn-around and Web-accessible progress reports; NursesSTAT, which deploys leading-edge staffing administration technology to healthcare facilities; and provides cost-effective temporary staffing solutions. iBX also owns SportshealthNet.com, an interactive Web portal providing consumers with comprehensive healthcare information and advice, and increasing physician referrals.
This release is comprised of interrelated information that must be interpreted in the context of all of the information provided and care should be exercised not to consider portions of this release out of context. This release contains certain "forward-looking statements and information" (as defined in the Private Securities Litigation Reform Act of 1995) concerning iBX Group, Inc. that are based on the beliefs of iBX Group, Inc.'s management, as well as assumptions made by and information currently available to iBX Group, Inc. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including those risks and uncertainties detailed in iBX's filings with the Securities and Exchange Commission.