DEERFIELD BEACH, Fla., April 6, 2004 (PRIMEZONE) -- Citing a re-structure of its organization and the finalization of several transactions, iBX Group, Inc. (OTCBB:IBXG) today released a positive forecast for the first quarter and FY 2004. The report was bolstered by the news that first-quarter revenues had increased from the previous period. The Florida HealthSource division alone generated just under $1 million of billings.
"We're extremely confident that 2004 will be a successful year for our company," said Evan Brovenick, president and CEO of iBX. "With such a solid infrastructure in place, an aggressive debt retirement program just completed, and a fully developed strategy for consistent growth that is currently being implemented, each of our divisions is ideally positioned for expansion in the next several months."
Brovenick said the company's NursesSTAT(R) division, which provides hospitals and other healthcare organizations technological and administrative solutions that better utilize limited staffing dollars, has recently closed the acquisitions of three established healthcare staffing firms. These staffing agencies are expected to help NursesSTAT(R) better meet seasonal staffing needs in several regions that experience dramatic nurse shortages during certain times of the year. Revenue estimates from this division are expected to top $3 million for the remainder of the year.
"This expansion is just one example of our commitment to developing practical and profitable solutions to the most challenging issues in healthcare today, and throughout our re-organization process, we'll continue to direct much of our efforts on the staffing sector," Brovenick said. "In addition, we'll focus on opportunities within physical/occupational therapy and rehabilitation through our Florida HealthSource division, and application deployment through our iBX Technologies division."
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 five 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; and NursesSTAT, a revolutionary temporary staffing solution. The company also owns SportshealthNet.com and TheNetDigest.com, interactive Web portals providing patients with comprehensive healthcare information and advice, and increasing physician referrals.
Media Relations Contact: Andrew M. Rose, 954-428-2678 or andy@marketingink.net
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.