Solidifying Partnership With Beacon Business Finance, Florida Healthsource Takes Over Management Of Receivables
October 30 2003 - 3:59PM
PR Newswire (US)
Solidifying Partnership With Beacon Business Finance, Florida
Healthsource Takes Over Management Of Receivables DEERFIELD BEACH,
Fla., Oct. 30 /PRNewswire-FirstCall/ -- iBX Group, Inc. (BULLETIN
BOARD: IBXG) confirmed today that the company's Florida
HealthSource of Tampa subsidiary has taken over operations at a St.
Petersburg-based network of seven physical therapy and
rehabilitation facilities as part of a strategic partnership with
Beacon Business Finance, LLC. Earlier this week, Florida
HealthSource of Tampa agreed to assist Beacon with the management
of accounts receivables, as well as the operations of the
Medicare-certified facilities. The new Tampa network is expected to
generate $1.5 million in new revenue during the next year,
according to Evan R. Brovenick, president and CEO of iBX, which
specializes in deploying financial, administrative and technology
solutions for the healthcare industry. Overall revenue for Florida
HealthSource will likely exceed $6 million, he said. "The addition
of these centers has expanded awareness of the unique Florida
HealthSource brand to the west coast of Florida and opens up an
additional market for iBX's cost-effective technological and
management services within the healthcare industry," Brovenick
said. "Our Florida HealthSource management team is already well on
its way to fully integrating these tools in the Tampa-St.
Petersburg area, as it has done throughout South Florida." Florida
HealthSource's 18 multi-disciplinary facilities offer a variety of
physical therapy, occupational medicine, rehabilitation, pain
management, chiropractic care and wellness services in a relaxing,
upscale setting. The centers are designed to showcase iBX's menu of
technology services for the healthcare industry, including
innovative clinical products such as TheraTouch, a programmable,
interactive 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 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 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. DATASOURCE: iBX Group,
Inc. CONTACT: Andrew M. Rose, +1-954-428-2678, or , for iBX Group,
Inc.
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