DEERFIELD BEACH, Fla., May 12, 2004 (PRIMEZONE) -- iBX Group, Inc. (OTCBB:IBXG) announced today that the company and its subsidiaries have retained CorpFin, an Atlanta-based investment banking firm, to lead iBX's current $2 million capital campaign.
With a recently approved registration statement, iBX Group has created several investment vehicles for small cap firms that have committed funding to the company, according to Evan R. Brovenick, president and CEO of iBX Group.
"After several months of restructuring, iBX clearly foresees a second-quarter revenue increase," Brovenick said. "Through this corporate stabilization process, the operating subsidiaries will be focused on executing the current business plan while continuing to reduce and contain costs."
Certain proceeds from these activities will be used to implement a multi-faceted sales and marketing program, Brovenick added.
CorpFin has been a licensed broker-dealer since its inception in 1999. The company focuses on arranging private placements and financings for public and private companies, as well as providing certain corporate finance functions, including business consulting, and merger and acquisition services.
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 collections of 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; and NursesSTAT, a revolutionary temporary staffing solution. The company also owns SportshealthNet.com and TheNetDigest.com, interactive Web portals 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.