UPLAND, Calif., March 16, 2005 (PRIMEZONE) -- Healthcare Business Services Groups, Inc. (OTCBB:HBSV), a provider of full-service medical billing services and practice management solutions and future operator of surgery centers, announced today that OTC Financial Network, a division of National Financial Communications Corp., has issued a favorable InvestorFacts report on the Company. The report includes a profile of the Company's upcoming projects, market potential, growth strategies and investment considerations. Interested parties can view the report online at http://www.otcfn.com/hbsv/report.html.
Geoffrey Eiten, publisher of the OTC InvestorFacts, stated, "Healthcare Business Services Groups has a three-pronged approach to providing healthcare providers and their patients with the most efficient and comprehensive billing services."
Eiten continued, "Medical services is a $1.7 trillion dollar industry. Healthcare Business Services Groups is able to provide efficient methods for providers to collect on their outstanding bills and offers medical practice management solutions. In addition, Healthcare Business Services Groups recently launched and began selling their AutoMed(tm) software suite, which is the most effective and comprehensive billing software on the market. The third prong of Healthcare Business Services Group business plan is to open surgery centers nationwide over the next three years. These centers will offer physicians and their patients low-cost community based care. The surgery centers will offer the Company a new asset base, a new revenue stream from procedures and additions to the Company's core medical billing and practice management client base."
About OTC Financial Network
OTC Financial Network, a division of National Financial Communications Corp. (http://www.nationalfc.com) based in Needham, Massachusetts, is a fullservice financial communications and investor relations firm that specializes in micro-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence; building upon the client's existing shareholder base; and soliciting institutional coverage. For more information, visit http://www.otcfn.com.
About Healthcare Business Services Group, Inc.
Healthcare Business Services Group, Inc. is a provider full-service medical billing services and practice management solutions and operator of surgery centers. The Company provides traditional, customized medical billing services and support to physicians, providers, and healthcare facilities across the nation. In addition to its core medical billing services, the Company offers a comprehensive, full-service medical billing software product, AutoMed, Inc., that is the only fully automated product on the market. Healthcare Business Services Group also plans to develop and operate surgical centers in the primary geographic markets it provides medical billing services to provide a full-service, low cost surgical center option to physicians and providers. The Company has completed architectural and engineering plans for its first surgical center, has retained a general contractor, and acquired the financing to begin development. For more information visit http://www.thenewhbsgi.com.
OTC Financial Network serves as special advisor to Healthcare Business Services Groups, Inc. and has received fees for services, including a monthly base of five thousand dollars, paid in cash. This is not an offer to buy or sell securities. Information or opinions in this release are presented solely for informative purposes, and are not intended nor should they be construed as investment advice. Full disclaimer information can be found online at http://www.otcfn.com/hbsv/disclaim.html
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.