UPLAND, Calif., Jan. 31, 2005 (PRIMEZONE) -- Winfield Financial, Inc. (OTCBB:WFLD) today announced the company has officially changed its name to Healthcare Business Services Groups, Inc. (OTCBB:HBSV). The name and symbol change are the culmination of events previously announced on April 23, 2004 where Winfield Financial, Inc. acquired 100% of the outstanding shares of HBSGI in exchange for 25,150,000 shares of Winfield Financial, Inc., an 80% controlling stake. HBSGI is a provider of medical billing services and software and an operator and developer of surgery centers.
About Healthcare Business Services Groups, Inc.
Healthcare Business Services Groups, Inc. or HBSGI (OTCBB:HBSV) is a provider full-service medical billing services and solutions and operator of surgery centers. The company provides traditional, customized medical billing services and support to physicians, providers, and healthcare facilities across the nation. In addition to its core medical billing services, HBSGI offers a comprehensive, full-service medical billing software product, AutoMed, Inc., that is the only fully automated product on the market. HBSGI also plans to develop and operate surgical centers in the primary geographic markets it provides medical billing services to provide a full-service, low cost surgical center option to physicians and providers. HBSGI has completed architectural and engineering plans for its first surgical center, has retained a general contractor, and acquired the financing to being development.
Forward Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.