Florida HealthSource of Palm Beach Acquires Pulmonary Rehabilitation Clinic in Delray Beach, Fla.

Deerfield Beach, Florida, UNITED STATES


DEERFIELD BEACH, Fla., Feb. 26, 2004 (PRIMEZONE) -- Florida HealthSource, a division of iBX Group, Inc. (OTCBB:IBXG), has acquired South Florida Therapy, a pulmonary rehabilitation clinic in Delray Beach, Fla., that the company has been managing since November. The addition of the clinic to Florida HealthSource's statewide network of physical therapy and rehabilitation centers is expected to generate $400,000 during 2004, further supporting an earlier projection of $6 million for the division.

"The acquisition of an established pulmonary rehabilitation clinic fits nicely into our comprehensive strategy for Florida HealthSource because gives us the opportunity to meet some of the growing demand for respiratory therapy services in the area," said Matthew Sarnelli, Managing Director for the division. Florida HealthSource clinics offer a variety of multi-specialty healthcare services including physical therapy, occupational medicine, rehabilitation, pain management and chiropractic care.

"With such a solid platform to build upon, it will be relatively easy for us to add several other healthcare services to the clinic and bring it in line with our multi-disciplinary wellness center concept," Sarnelli said.

The growing elderly population in the United States, advances in the treatment of premature infants and the environmental impact on diseases such as asthma have prompted a large increase in demand for pulmonary rehabilitation services, according to the American Association for Respiratory Care. The U.S. Bureau of Labor Statistics has projected a 43 percent increase in demand for respiratory therapists from 1998 to 2008.

"With the demographics of the Delray Beach area and the clinic's proximity to a prominent hospital, this is an ideal location for us to expand," Sarnelli said. "We believe that the Florida HealthSource brand will be significantly strengthened throughout South Florida as healthcare providers in the area seek to refer their patients for various types of therapy."

As with Florida HealthSource's other clinics, the Delray Beach center will also serve as a showroom for the company's healthcare products, including ActiPatch, an FDA-approved coin-sized patch that releases electromagnetic therapy to treat wounds and injuries, and TheraTouch, a programmable, interactive clinical massage device.

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 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, a revolutionary temporary staffing solution. iBX also owns SportshealthNet.com, an interactive Web portal providing patients 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.



        

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