The Quantum Group, Inc. (NYSE Amex:QGP) announced financial
results for the second quarter of fiscal 2009 ended April 30,
2009.
For the period ended April 30, 2009, the Company reported an
increase in revenues of approximately 220% to $8,308,967, compared
to $3,775,288 for the same quarter of fiscal year 2008. On a
sequential basis compared to first quarter 2009, revenues
attributed to subsidiary Renaissance Health Systems increased 13%
from $7,363,293 in the first quarter of fiscal 2009 to $8,308,967
in the second quarter of fiscal 2009.
�The 13% increase in revenue for the second quarter is on track
with our growth rate over the last two years,� stated Noel J.
Guillama, President and CEO of The Quantum Group. �Year over year
we have seen the natural progression of our comprehensive business
model as a Healthcare Service Organization (HSO). We began with the
systematic development and deployment of Renaissance Health
Systems. Our efforts resulted in the creation of our Company
foundation as today we have 2,000 affiliated providers, 8 payer
partners and over 4,400 patient lives, and we fully believe this
growth trend will continue. We continued the growth of our model
with the development of PWeR� (Personal Wellness electronic
Record�) our comprehensive technology platform designed to
facilitate the communications between physicians, patients,
facilities, hospitals and payers.�
Guillama further commented, �Today we have nearly 25% of Quantum
personnel working directly on or in support of PWeR as we believe
it is our fastest means to reach profitability in 2010. PWeR is
gaining ground among our physician base and is attaining the
attention of several of our payer partners and regional health
systems. We continue to be proud of our staff in handling our
phenomenal growth over 10 consecutive quarters.�
The Company reported that over the last three years on a per
employee basis it has generated $27,931 in revenues per employee in
the second quarter of 2007, $77,143 in the same quarter of 2008,
and $129,828 in the same quarter of 2009. This represents a revenue
increase per employee of 469% over 3 years.
Pete Martinez, Quantum Senior Vice President and Chief
Technology & Innovations Officer, commented, �Healthcare
reform, specifically the push for adoption of electronic medical
records, is a top political, social and economic agenda item. We
believe the industry-wide adoption of technology is a great
opportunity for the services and products offered by Quantum. We
are already delivering on President Obama�s vision to have
electronic medical records act as a catalyst for cost reduction and
promote wellness. In turn, the data gathered by PWeR creates a
powerful knowledge base that we believe will significantly enrich
the science of healthcare.�
The Company reported a loss from operations of $2,539,148 in the
second quarter of fiscal year 2009 versus $4,860,653 from the same
quarter in fiscal year of 2008. This quarter loss figure resulted
in a loss per share of $.41 versus $.56 per share for the same
period in 2008. The Company further reported a total net loss of
$4,174,917 for the quarter versus $4,926,795 for the second quarter
of fiscal year 2008.
About The Quantum Group, Inc.
The Quantum Group is an innovation-driven Healthcare Services
Organization (HSO) that provides business process solutions,
service chain management, strategic consulting and leading edge
technology to the healthcare industry.
Quantum has developed and deployed PWeR� (www.myPWeR.com), a
cutting-edge, patent-pending healthcare technology system that has
been designed to bridge the gaps of communication and exchange of
patient information throughout the healthcare industry. To date
eighteen provisional and one utility patent application have been
filed in support of PWeR. The system can integrate all of the
functions a physician/provider, hospital, clinic and related
professionals utilize in one patient-centric, web-based platform
and falls well within the economic incentives offered by the new
$19 billion Stimulus Package for healthcare information technology.
We believe we are positioned to be a catalyst for change as we take
aim at the $700 billion inefficiency gap in the United States
healthcare industry.
For more information, please visit http://www.QuantumMD.com.
Certain statements contained in this news release, which are not
based on historical facts, are forward-looking statements as the
term is defined in the Private Securities Litigation Reform Act of
1995, and are subject to substantial uncertainties and risks in
part detailed in the respective company's Securities and Exchange
Commission 10-K, 10-Q, S-8, SB-2, S-1 and 8-K filings (and
amendments thereto) that may cause actual results to materially
differ from projections. Forward-looking statements can be
identified by the use of words such as "expects," "plans," "will,"
"may," "anticipates," "believes," "should," "intends," "estimates"
�could� and other words of similar meaning. These statements are
subject to risks and uncertainties that cannot be predicted or
quantified and, consequently, actual results may differ materially
from those expressed or implied by these forward-looking
statements. Such risk factors include, without limitation, the
ability of the Company to properly execute its business model, to
raise substantial and immediate additional capital to implement its
business model,�to continue revenue growth trend in fiscal year
2009, to control patient medical cost relative to income received,
to attract and retain executive, management and operational
personnel,�to continue growing its patient base, to negotiate
favorable current debt and future capital raises, to negotiate
favorable agreements with a diversified provider base and HMO
clients and to continue to supply the services needed by these HMO
clients as well as provider clients. We have further risk in the
deployment of our PWeR� technology platform and the continuing
infrastructure development, hosting, security, sales and servicing;
further potential complications by the utilization by our clients,
technical and software setbacks, cost of development, as well as
the capital to deploy it as well as pricing and completive
pressures. We are also subject changes in federal and state
government regulations dealing with both our provider system and
our technology solutions that could have a material economic affect
and cause interruptions of services. We are also subject to
contractual risk, expenses and compliance with our alliance
partner(s) agreements. The Company does not undertake any
obligation to publicly update any forward-looking statements.�As a
result, investors should not place undue reliance on these
forward-looking statements.
Quantum Grp., (The) (AMEX:QGP)
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