Quantum Group Announces Completion of Four New Community Health Systems: Palm Beach and Treasure Coast Providers Join the Renai
16 Mars 2006 - 9:55PM
PR Newswire (US)
WELLINGTON, Fla., March 16 /PRNewswire-FirstCall/ -- The Quantum
Group, Inc. (OTC:QTUM) (BULLETIN BOARD: QTUM) (
http://www.qtum.com/ ) announced that its subsidiary Renaissance
Health System of Florida, Inc. (RHS) ( http://www.rhsfl.com/ ) has
completed Community Health Systems (CHSs) in Palm Beach,
Okeechobee, Martin and St. Lucie Counties. This area boasts a
rapidly growing population, with a significant number of Baby
Boomers calling this area home. Currently, the Medicare-eligible
population of this cumulative area includes nearly 360,000 seniors.
Further, St. Lucie County has been listed among the fastest-growing
counties nationwide, according to a recent release by the U.S.
Census Bureau. The Community Health System (CHS) model was
developed by Renaissance Health Systems for the benefit of
patients, providers and insurers alike. In a CHS, the patient is
recognized as the true consumer of healthcare services and is
actively engaged to work alongside their physician in pursuit of
their improved healthcare lifestyle. Previously the Company has
announced the completion of three other strategic Community Health
Systems in Volusia, Miami-Dade and Broward Counties. With the
completion of these additional systems, the Medicare- eligible
population that benefits from this Patient-centric model includes
upward of 1 million seniors. RHS President & CEO, Noel J.
Guillama, commented, "Our Company is thrilled to have reached this
next plateau in our continued expansion. These four new Community
Health Systems were established in vital areas, many of which are
highly underserved and whose senior residents deserve increased
options for their healthcare coverage." Renaissance Health Systems
has expanded its quality network of physicians and ancillary
providers to nearly 700 -- each of whom practice within the
respective counties managed by the Community Health Systems. Future
expansion plans include the Central Florida counties of Orange,
Osceola and Seminole. The Company believes that continuous care is
a vital component towards the improvement and maintenance of a
patient's healthcare lifestyle. This strategic growth plan also
complements the existing CHSs as it provides seamless coverage for
Patients who rely upon care from Providers in neighboring counties.
Thereby, Renaissance encourages a greater number of patients to
sign up for the plan(s) and in turn fosters a higher retention
rate. A map identifying the Company's five-year growth plan can be
viewed at http://www.rhsfl.com/whereweare . Guillama stated, "I
continue to be proud to have such a highly dedicated and talented
team of Provider Specialists -- we think the best in the state.
They represent us on a daily basis as they work tirelessly to find
the best providers and to build our quality CHSs. Their efforts are
largely why we have realized such success." Quantum anticipates
that by the end of the year, it will begin to provide additional
key services to physicians, the first of which is expected to be
billing and collections. With these developments underway, the
Company is on track to achieve its strategic objectives. The
Quantum Group, based in Wellington, Florida, is part of a strategic
group of healthcare companies, with Quantum positioned as the
parent. In conjunction with its subsidiary companies, which include
Renaissance Health System of Florida, Inc. (RHS) (
http://www.rhsfl.com/ ) and Quantum Medical Technologies (QMT),
Quantum strategically addresses many of the service, management and
technology needs of managed care organizations, physicians,
healthcare facilities and physician associations that bring
increased and highly valued efficiencies to the $2.1 trillion U.S.
healthcare system. The opportunity is to leverage and cross-promote
the services and products of each respective organization with one
another to capitalize upon the potential of this impressive target
market. 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 uncertainties and risks in part
detailed in the respective Company's Securities and Exchange
Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual
results to materially differ from projections. Although the company
believes that its expectations are reasonable assumptions within
the bounds of its knowledge of its businesses and operations, there
can be no assurance that actual results will not differ materially
from their expectations. Important factors currently known to
management that could cause actual results to differ materially
from those in forward-looking statements include the company's
ability to execute properly its new business model, to raise
additional capital to implement new business models, the ability to
attract and retain personnel, and the inherent risk associated with
a diversified business to achieve positive cash flow. In light of
these risks and uncertainties, there can be no assurance that the
forward-looking information contained in this press release will,
in fact, occur. Media Contact: Danielle Amodio Vice President
Corporate Communications The Quantum Group, Inc. 561.798.9800
DATASOURCE: The Quantum Group, Inc. CONTACT: Danielle Amodio, Vice
President Corporate Communications, The Quantum Group,
+1-561-798-9800 Web site: http://www.qtum.com/
http://www.rhsfl.com/ http://www.rhsfl.com/whereweare
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