TIGroup Acquires Controlling Interest in Healthcare Services Provider
05 Novembre 2007 - 6:55PM
PR Newswire (US)
LOS ANGELES, Nov. 5 /PRNewswire-FirstCall/ -- Tri-Isthmus Group,
Inc. ("TIGroup"), (OTC:TISG) (BULLETIN BOARD: TISG) , a provider of
financial solutions to the healthcare industry, announced the
acquisition of a controlling interest in Rural Hospital Acquisition
LLC ("RHA"). Based in Oklahoma City, RHA owns and operates three
critical access hospitals in Oklahoma and provides ancillary
healthcare services. TIGroup's Chairman and CEO, David Hirschhorn
said, "TIGroup is building a portfolio of interests in healthcare
services operations, including ambulatory surgery centers, rural
hospitals, surgical hospitals and other healthcare delivery
platforms in partnership with physicians and physician group
practices. The RHA investment represents an important development
for TIGroup, consistent with our strategy of providing flexible
financial solutions to businesses delivering quality healthcare
solutions outside of traditional hospital settings and in support
of new treatment solutions. "TIGroup's investment in RHA will
provide growth capital to fund the expansion of its unique platform
through joint ventures and partnerships with physician-led
healthcare businesses in Oklahoma and throughout the regional
market. For TIGroup, this is the first of what we hope will be many
ventures with regional and community healthcare services providers.
Our goal is to help these businesses improve the quality and
breadth of healthcare services in their markets and, of course, to
deliver attractive returns to our partners and shareholders." RHA's
Chairman and CEO Mike Schuster added, "The support and capital
markets expertise that TIGroup brings represents an exciting
opportunity for RHA to leverage our current operations. This
investment will enable us to expand our presence as a significant
provider of alternative health care services in each of our current
markets and beyond. TIGroup's backing will be instrumental in
building a business that we believe can grow to $100 million in
annual revenues over the next three to four years. We expect to
immediately begin working on extending our operations by forging
partnerships with doctors at our current facilities and other
physician-owned businesses in our markets to become a leading
provider of healthcare services in the region." Dennis Smith, CFO
of TIGroup, said, "We are pleased to be partnering with RHA, and to
do so on terms that are quite favorable to our shareholders. This
transaction adds strength to our balance sheet and significantly
enhances our operating results, with annualized revenues estimated
to reach $20 million in 2008." About Rural Hospital Acquisition LLC
Rural Hospital Acquisition LLC ("RHA") creates partnerships with
local physicians to identify, organize, develop and operate medical
programs, services, and facilities that meet the identified needs
of residents in targeted market areas. The company currently
operates three rural critical access hospitals in Anadarko, Stroud
and Tishomingo, Oklahoma. In addition, RHA provides both Part A and
Part B centralized billing to its hospitals and affiliated
physician clinics. RHA's future growth plans are focused on
developing and consolidating healthcare services in regions around
its current operations as well as in new opportunities in Oklahoma
and surrounding states. About Tri-Isthmus Group, Inc. Tri-Isthmus
Group, Inc. ("TIGroup") provides flexible financial solutions to
businesses delivering quality healthcare solutions outside of
traditional hospital settings and in support of new treatment
solutions. For more information, visit http://www.tig3.com/.
TIGroup's common shares trade over-the-counter as TISG. A profile
for investors can be accessed at
http://www.hawkassociates.com/tisgprofile.aspx. For investor
relations information, contact Frank Hawkins or Julie Marshall,
Hawk Associates, at (305) 451-1888, e-mail: . An online investor
kit including press releases, current price quotes, stock charts
and other valuable information for investors may be found at
http://www.hawkassociates.com/ and
http://www.americanmicrocaps.com/. To receive free e-mail
notification of future releases for TIGroup, sign up at
http://www.hawkassociates.com/email.aspx. Safe-Harbor Statement:
Under the Private Securities Litigation Reform Act of 1995, this
press release may contain forward-looking information within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended (the Exchange Act), including all statements that are not
statements of historical fact regarding the intent, belief or
current expectations of the company, its directors or its officers
with respect to, among other things: (i) the company's financing
plans; (ii) trends affecting the company's financial condition or
results of operations; (iii) the company's growth strategy and
operating strategy; and (iv) the declaration and payment of
dividends. The words "may," "would," "will," "expect," "estimate,"
"anticipate," "believe," "intend" and similar expressions and
variations thereof are intended to identify forward-looking
statements. Investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, many of which are beyond the company's
ability to control, and that actual results may differ materially
from those projected in the forward-looking statements as a result
of various factors including the risk disclosed in the company's
Forms 10-K and 10-Q filed with the SEC. DATASOURCE: Tri-Isthmus
Group, Inc. CONTACT: Frank Hawkins or Julie Marshall of Hawk
Associates, Inc., +1-305-451-1888, , for Tri-Isthmus Group, Inc.
Web site: http://www.tig3.com/
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