LOS ANGELES, August 11, 2003 (PRIMEZONE) -- PracticeXpert, Inc. (OTCBB:PXPT), today announced that it has completed the acquisition of Healthcare Billing Solutions, Inc. ("HBS").
HBS, located in Great Falls, Montana, provides medical billing and practice management services to physician practices primarily located in the Great Falls area. HBS serves physicians practicing in mental health, OBGYN, family medicine, and general and vascular surgery.
Commenting on the acquisition, Christa Howski, president of HBS, stated, "I am extremely excited at having the opportunity to join forces with PracticeXpert. Our customers are demanding greater service, and in particular, are seeking technology solutions to improve their billing process. Being able to offer existing and prospective clients the Pxpert(tm) patient encounter system certainly gives us a competitive advantage over our competition, and I am confident will allow us to continue to grow our business over the coming months."
Jonathan Doctor, chief executive officer of PracticeXpert, Inc., said, "We previously announced that we had signed a letter of intent to acquire HBS, and we have now closed this transaction. We continue to work on a number of other acquisition opportunities, as building critical mass and deploying our technology through our acquired companies is a significant part of our strategy. Further, having the operating base to absorb the new business we expect to generate through our national sales force is important. We are very pleased to have Christa as part of our team, and we certainly see substantial growth opportunities for HBS in the Montana area."
About PracticeXpert, Inc.
PracticeXpert, Inc.'s business is conducted through its main operating subsidiary, PracticeXpert Services Corp. PracticeXpert Services Corp, a healthcare technology and services company, is in the business of developing and deploying systems, technologies and services designed to improve operational efficiencies, reduce billing errors and enhance cash flow for medical practitioners. Its services revolve around its flagship patent-pending hand-held patient encounter system, Pxpert(tm), and include medical billing, collections, transcription, clinical trial accruals, contracting and practice management. PracticeXpert bundles its technology applications with its billing and other practice management services to provide a complete and integrated solution to its physician customers. For additional information visit www.pxservices.com.
Note: Any statements released by PracticeXpert, Inc. that are forward- looking, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may affect the Company's business prospects and performances. These include economic, competitive, governmental, technological and other factors discussed in the statements and in the Company's filings with the Securities and Exchange Commission.