Acquisition of Momentum Medical Group, Inc. will provide substantial
revenues for the company
BEVERLY HILLS, Calif., Feb. 25 /PRNewswire-FirstCall/ -- Vital Health Technologies, Inc. / Caribbean American Health Resorts, Inc. (Pink Sheets: CAHR) of Beverly Hills, California, today announced the acquisition of Momentum Medical Group, Inc. in a stock and corporate note deal valued at approximately $8 million.
With Momentum Medical un-audited revenues in excess of 6 million dollars for the year ended December 31, 2007, the addition will create substantial increase in Vital Health Technologies / Caribbean American Health Resorts' revenue stream.
Momentum Medical Group operates two 24 Hour Full Service Medical Clinics in California. It is a provider of affordable, accessible, and comprehensive medical care through its Medical clinics in the United States. Momentum's medical clinics are a paradigm for efficient delivery of high quality, accessible and affordable health care. First, the physical plant is formatted as a clinic rather than a medical office building and services are provided 24 hours on a walk-in or non-appointment basis. Like an emergency room, the facilities never close and all primary care services are immediately available on a round the clock 24 hour basis so that diagnosis and treatment can be provided immediately thereby minimizing progression of simple conditions into more severe conditions. Practitioners, basic radiology, physician office laboratory, prescription medications, injections, intravenous antibiotic and treatment therapy, casting and splinting, minor procedures, minor surgery and basic radiology are instantly available in office while more complex stat services can also be arranged while the patient is attended. 24 hour access with immediate treatment available creates a loyal patient following and customer satisfaction.
"Economies of scale are uniquely achieved in the 24 hour multi-specialty and family practice medical clinic format," says the owner, Dr. Edward Rubin, who is a veteran of the healthcare industry. Just to list the top several efficiencies over conventional health care industry. First, all specialties share a single, proprietary computerized management and billing system eliminating redundant clerical services as with a Medical Office Building format filled with independent practices. Second, medical information is shared and organized into a single electronic medical record so all practitioners have access to other practitioners' information thereby eliminating redundant testing which lowers cost and increases quality of care. Third, like super high priced concierge service, a practitioner is available 24 hours to answer questions regarding your accessible medical record. Fourth, specialty services are available by appointment and housed in the same facility using the same shared resources. Fifth, digital communication is available for stat services and for real time data transmission, processing and analysis. Lastly, real time verification of payor coverage and of clinical quality indicators is instantly available for professional review and/or payment processing. It is virtually unheard of for a physician office to provide all of these services," he concludes.
Mr. Hal Martin, CEO of Vital Health Technologies, Inc. / Caribbean American Health Resorts, Inc, says that, "Lower cost, superior access and higher quality care and service is ultimately the outcome of such a hyper-efficient health care delivery format. This lower cost and wider breadth of service with real time computerized reporting of quality indicators and other critical data make Momentum Medical Group, Inc. attractive to workers compensation carriers and employers, insurance companies and health maintenance organizations, and most of all, to private pay and working patients who need flexible and immediately available medical service." Mr. Martin continues to say that "With the nation's $2 trillion health care system in need of repair, Momentum Medical Group, Inc.'s 'Superclinics' can be the paradigm for health care delivery for the next decades."
About Vital Health Technologies, Inc. / Caribbean American Health Resorts, Inc.
In today's global economy there is an increasing demand for affordable, accessible, and comprehensive medical care. Vital Health Technologies, Inc. through its medical clinics subsidiaries' provides the ideal solution for these and many other needs. These services are provided by well trained and knowledgeable personnel. The mission of this Company is to create more efficient, accessible and productive model for providing high quality health care at affordable cost.
For more information visit http://www.cahrinc.com or email email@example.com
Safe Harbor Statement
Statements in this release are not historical, are forward looking and involve known and unknown risks and uncertainties, which may cause Vital Health Technologies / CAHR's actual results in future periods to be materially different from any future performance that may be suggested in this release. Such factors may include, but are not limited to, the need to raise equity capital, the ability to obtain equity financing on acceptable terms, if at all, a severe worldwide slowdown in the services sector, working capital constraints, fluctuations in customer demand and commitments, fluctuation in quarterly results due to the timing of services and our capacity to fulfill them, introduction of new services, commercial acceptance and viability of new services, pricing and competition, reliance upon subcontractors, and the timing product introductions. Further, Vital Health Technologies / CAHR operates in an industry sector where securities values are volatile and may be influenced by economic and other factors beyond Vital Health Technologies / CAHR's control, such as announcements by competitors and service providers.
|SOURCE Vital Health Technologies, Inc.; Caribbean American HealthResorts,|
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