HANOVER, Md., April 1, 2004 (PRIMEZONE) -- Humana Trans Services Holding Corporation (OTCBB:HTSC) (http://www.humanaservices.com), a principally engaged firm involved in employee leasing and recruitment services, announces that it will launch a new subsidiary, to be located in Humana's new offices located at 75 Montebello Road, Suffern, NY. This new division, to be called Adminsource Services Corp. will focus on several areas of outsourced administrative services, predominately in the Logistics and Transportation Staffing, Health Care and Light Industrial Staffing sectors, and will ultimately encompass the current staffing and recruiting operations. It will become a fully integrated Outsourced Administration Service, providing the following services:
-- Billing Services (Temp-to-Perm, Medical, Third Party Services)
-- Receivables Financing and Third Party Asset-based lending
-- Account Management Services and Advisory Services
-- Insurance (General Liability, Health, Worker's Compensation)
-- Staffing/Recruitment (Full Time, part Time, Temp-to-Perm and
Third Party HRO Management)
-- Consulting Services for Business Management and Advisory
Services, Cash Management and Accounting and Growth Strategy
Services
-- Security (Drug testing, Criminal background checks -
pre-employment, quarterly and "on demand", Employee
Screening and Work Place Safety Training)
This new subsidiary, expected to be operational by May 1, 2004, will give companies a single source strategy as a multi-level of Administrative Outsourcing option, to better manage their own business, more efficiently, more profitably and most importantly competitively! Management feels that the new division will maximize profitability for Humana, the parent company. This division is expected to operate at 28% gross profit margin, as in comparison to our above average industry standard margin of 3% gross margin on our H.R.O./P.E.O business.
John Daly, President of Humana, stated, "The launching of this new subsidiary is very exciting. It consolidates the focus of our existing staffing and recruiting business, while maximizing the choice of products and services we offer, while ultimately maximizing our profits."
Adminsource Services Corp. will be headquartered in Suffern, New York, with offices in Hanover, MD, Stradford, CT and Kingston, PA.
About Humana Trans Services Holding
Humana Trans, with corporate headquarters in Hanover, Maryland, maintains branch offices in Connecticut, Florida and Pennsylvania. The firm is a principally engaged entity involved in employee leasing and recruitment services. Humana, through its operating subsidiaries, is focused on the transportation industry and currently operates in six states. The company looks to grow its business internally or through strategic acquisitions. With the formation of Humana National Program Administrators, the company is creating a foundation to launch its next phase of administration services. Clients of the company include Cardinal Health/Allegiance Healthcare, McLane, Owens & Minor Healthcare, Penske Logistics, Royal Ahold (and several of its subsidiaries that includes Giant Food Stores) and Safeway. Humana has a proven management team that is comprised of veterans from Coach USA, U.S. Delivery and Deloitte and Touche.
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