DEERFIELD BEACH, Fla., Dec. 1, 2003 (PRIMEZONE) -- iBX Group, Inc. (OTCBB:IBXG), announced today that its Florida HealthSource division has been named the exclusive distributor of ActiPatch(tm), an FDA-approved coin-sized patch that releases electromagnetic therapy to treat and speed healing of soft tissue injuries, surgical wounds, sprains and muscle strains.
The agreement with BioElectronics Corp. is expected to generate upwards of $500,000 in 2004 revenue for an estimated $6 million for Florida HealthSource during the next year. The company has already begun nationwide distribution of the product and will immediately launch an aggressive marketing campaign to increase awareness of the product's therapeutic and cost-effective benefits. ActiPatch(tm), which helps patients recover faster than traditional methods, may reduce healthcare costs by shortening hospital stays and reducing days lost from work.
The device promotes speedy healing by restoring the electrical potential of damaged cell membranes; suppressing edema, thereby reducing swelling and pain; increasing cell-to-cell communication; and ensuring the physical alignment of the cells and collagen matrix to prevent excessive scarring. It is indicated for patients with back conditions, knee problems, shoulder and arm conditions, sprains and other muscle problems, ankle and foot problems, carpal tunnel syndrome and other hand and wrist problems, hip fractures, burns, and post-surgical wounds. ActiPatch(tm) is also effective in the treatment of arthritis and whiplash.
"With at least 200 million soft tissue injuries annually in the United States, as well as 45 million sprains and strains, 10 million foot conditions and 9 million chronic wounds, the potential market for ActiPatch(tm) is enormous," said Matthew Sarnelli, Managing Director for Florida HealthSource. "Traditional therapies can cost thousands of dollars and are often ineffective in treating chronic and slow-healing wounds. We believe that this technology, which offers a drug-free, speedier return to health, will be well-received by hospitals and healthcare organizations around the world."
ActiPatch(tm) will also be featured at Florida HealthSource's network of multi-disciplinary wellness centers located throughout the state. The clinics, which provide a variety of physical therapy, rehabilitation, chiropractic and pain management services under one roof, are designed to showcase iBX's menu of administrative, financial and technology services for the healthcare industry, as well as capitalizing on the growing physical therapy market.
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.
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.