NEW YORK, Sept. 25, 2013 (GLOBE NEWSWIRE) -- CodeSmart Holdings, Inc. (OTCQB:ITEN), with its subsidiary, The CODESMARTTM Group, Inc. (collectively, "CODESMART"), a premier ICD-10 education and solutions group that offers CODESMARTTM UNIVERSITY, its on-line education solution and customizable training solutions, announced today that it has retained OmniView Capital LLC ("OmniView Capital") as a non-exclusive advisor to assist the company in, among other things, capital and transaction strategy and structuring, company valuation analysis as well as market and industry research.
"We have a very positive history with OmniView Capital, and they have been instrumental in guiding our development to date," says Ira Shapiro, CEO of CodeSmart™. "We are grateful for the work OmniView Capital has done with us thus far and look forward to further collaboration to help CodeSmartTM continue to grow and become stronger in the market."
Abraxas J. Discala, CEO of OmniView Capital stated, "The adoption of ICD-10 in the U.S. has created what industry experts believe the biggest change in healthcare in over 40 years. CODESMARTTM UNIVERSITY is addressing a meaningful portion of this multi-billion dollar healthcare IT market. We are committed to participating in any future financing."
ICD-10
ICD-10, or the tenth revision of the International Classification of Diseases, is a World Health Organization-approved designation of the aspects of disease treatment. These include categories of diseases and treatment modalities, broken down into more than 141,000 designations. The previous ICD had only 17,000 codes, diagnoses and procedures. The United States is one of the last countries in the world to adopt these standards. Although Forbes magazine predicts that most practices and hospitals have are not ICD-10-ready, the Department of Health and Human Services has mandated that all medical practices, hospitals and other medical record-keeping organizations be trained and ICD-10 compliant by October 1, 2014. This is essential as the Center for Medicare and Medicaid services will also be adopting the ICD-10 standard and will require proper medical coding in order to provide reimbursement.
About OmniView Capital LLC
OmniView Capital LLC is a privately held investment advisory and merchant-banking firm. The OmniView team has over 20 years of experience in merchant banking and principal investing, and advised over $1 billion in secured debt, equity, and mezzanine financing transactions across a spectrum of industries. OmniView Capital seeks out financially sound companies to create a true partnership by adding the required capital, assuming the risk and providing advice to help companies achieve their goals and provide significant added value beyond the capital investment. For more information, please visit www.omniviewcap.com.
About Codesmart™
CodeSmart Holdings, Inc. (OTCQB:ITEN) with its subsidiary, The CODESMART™ Group, Inc., is a premier national subject matter expert for ICD-10 education and compliance in the United States. Its product, CODESMART™ UNIVERSITY, is an on-line program of study for existing coders, new coders, clinicians, and healthcare roles of all types. Created by a combination of a leading panel of ICD-10 subject matter experts and a major four-year accredited university, which contributed the nation's top course designers and a platform that already provides interactive education to more than 60,000 students per year in degree programs. The ICD-10 training also includes live professors who work with and guide students through the programs of study in ICD-10.
CODESMART™ UNIVERSITY is endorsed by over 60 colleges and universities nationwide for its quality of education. The CODESMART™ Group, Inc. also provides solutions for ICD-10 transition, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.
To learn more about CODESMART™ UNIVERSITY's proprietary programs, visit www.codesmartgroup.com.