DEERFIELD BEACH, Fla., Jan. 12, 2004 (PRIMEZONE) -- With a solid infrastructure in place and a history of consistent growth, iBX Group, Inc. (OTCBB:IBXG) stock continues to be undervalued, CEO Evan R. Brovenick said in an exclusive national interview with the Wall Street Reporter. iBX, which addresses several critical needs of the healthcare industry by developing and deploying cost-effective financial, administrative and technology solutions, is expected to once again achieve profitability by the second or third quarter of 2004, Brovenick said.
The interview, which will be available through the end of this week, can be accessed at: http://www.wallstreetreporter.com/profiles/IBXGroup.html
"Having been in business for several years, we've been able to build a very powerful infrastructure that allows us to manage a variety of different types of data and provides for entry into other areas of business such as medical staffing, employing leasing, rehabilitation and wellness services, as well as our traditional core services such as accounts receivables and data management," Brovenick said.
With a worsening medical staffing shortage in the United States, Brovenick said the company will continue to focus on growth opportunities within the medical staffing and employee leasing industry during 2004 with the help of a proprietary software program that allows clients to manage the day-to-day needs and billing issues associated with staffing management. Brovenick said the company also will pursue growth within its core accounts receivable management division and by continuing to develop strategic relationships with financial institutions.
"We're also looking forward to continued growth and development within rehabilitation and wellness, which in our area is very needed," Brovenick said. "With the problems being experienced by HealthSouth, that's left the door open for smaller companies to come in and provide those needed services." Brovenick also predicted explosive sales for two of the company's newest products -- TheraTouch, a clinical massage device that can be programmed to deliver customized therapy sessions, and ActiPatch, 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.
"Stocks come and go, but we've been around now for two years trading very successfully," Brovenick said. "Our volume has been excellent, we have an excellent response from speculative investors as well as institutional investors, and we find that at our price point currently, we're way undervalued. As we go forward and we continue to post better and bigger top-line revenues, as well as earnings, we believe our stock has a long way to go. We continue to find ourselves with a very strong shareholder base, and as we go forward, we believe that anyone who looks at us today will be very, very happy that they did."
The Wall Street Reporter is a unique information source for professional investors seeking new investment ideas. Each day, the Wall Street Reporter's Web site features 40 to 60 unbiased, in-depth interviews from CEOs whose companies are in the news or soon will be. The site provides an inside perspective on these companies so visitors can make more informed investment decisions by learning what really makes these companies tick, what top management is like and where the companies are going next.
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 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; NursesSTAT, which deploys leading-edge staffing administration technology to healthcare facilities; and provides cost-effective temporary staffing solutions. iBX also owns SportshealthNet.com, an interactive Web portal providing consumers 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.