DEERFIELD BEACH, Fla., Nov. 24, 2003 (PRIMEZONE) -- Florida HealthSource, a division of iBX Group, Inc. (OTCBB:IBXG), today released a refined operating strategy for its flagship wellness center in upscale Boca Raton, Fla., which is scheduled for a grand opening Jan. 5, 2004.
The clinic, which provides a variety of multi-disciplinary healthcare services, is expected to generate an estimated $750,000 in the next twelve months and will be the focal point for Florida HealthSource's network of company-owned clinics throughout the state. Florida HealthSource, which also maintains a statewide referral network, has recently achieved critical mass with the acquisition of several established physical therapy, rehabilitation, chiropractic and wellness centers. Revenue estimates for the division remain positive at $6 million for 2004
"During our rapid expansion this year, we've fully developed our long-term strategy for Florida HealthSource as a whole, as well as further refined our vision for our network of company-owned healthcare centers," said Matthew Sarnelli, Managing Director for Florida HealthSource. "The Boca Raton clinic will focus on overall wellness and will also serve as a showcase for several of iBX's products that were specifically designed to help healthcare practices increase their income and efficiency."
The Boca Raton center will be the first in the Florida HealthSource network to feature TheraTouch, a programmable, interactive, clinical massage device. The redesigned apparatus, set for a Dec. 1 debut at healthcare centers nationwide, is expected to help maximize patient referrals to the clinic. The Boca Raton center will also feature several of iBX's technology services, including digital transcription services, Internet-enabled management applications, and advanced document management and storage options.
Florida HealthSource recently opened an integrated healthcare center in Oakland Park, Fla., that specializes in chiropractic care and serves as the nucleus of the company's fast-growing presence in Broward County. Dr. Michael A. Marks, D.C., the long-time owner of Boca Raton's Somerset Chiropractic Center, serves as Medical Director at the facility.
"We believe that the demographics of the South Florida patient population will help us to quickly expand awareness of the Florida HealthSource brand, which is one of iBX's core business strategies for the coming months," Sarnelli said. "With our referral network and the recent addition of an experienced clinic management team, we expect to be serving a number of patients immediately at our new location and to quickly boost referrals to our existing centers."
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 six 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, which deploys leading-edge staffing administration technology to healthcare facilities; and STAT Medical Services, which provides temporary staffing solutions. iBX also owns SportshealthNet.com, an interactive Web portal providing patients with comprehensive healthcare information and advice, and increasing physician referrals.
Media Relations Contact: Andrew M. Rose, 954-428-2678 or andy@marketingink.net
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.