The Quantum Group Announces Execution of 3rd Letter of Intent in Support of Community Health System Initiative
February 17 2005 - 8:00AM
PR Newswire (US)
The Quantum Group Announces Execution of 3rd Letter of Intent in
Support of Community Health System Initiative WELLINGTON, Fla.,
Feb. 17 /PRNewswire-FirstCall/ -- The Quantum Group, Inc.
(OTC:QTUM) (BULLETIN BOARD: QTUM) announced today that its
subsidiary company, Renaissance Health Systems (RHS), Inc., has
executed a third Letter of Intent to build a Community Health
System (CHS) in South Florida consisting of three counties. This
new CHS is designed specifically for the new Medicare Advantage
program in support of the Center for Medicare Services' (CMS)
initiative to provide more healthcare options to seniors. This new
area represents a total Medicare-eligible population of over
840,000 lives. "With the execution of this third Letter of Intent,
Renaissance has been contracted to build systems throughout
Florida. Pending final contracts in negotiations and the continued
assembling of personnel, we expect to be generating revenues in
less than 90 days," commented Noel J. Guillama, President of The
Quantum Group, Inc. He further stated, "With our integrated
approach to healthcare services, outsourcing and technology, we
feel that Quantum is well positioned to be a one-stop solutions
provider for the medical community by creating a more effective and
efficient medical delivery system." In a meeting held with company
stakeholders, Mr. Guillama explained, "Renaissance Health Systems
has developed a new model for the benefit of patients, providers
and insurers alike -- the Community Health System or CHS. In a CHS,
the patient is recognized as the true consumer of healthcare
services. Patients are engaged to actively work along side their
physician in pursuit of their improved healthcare lifestyle. This
tandem approach to a patient's health benefits the insurer, the
physician and most importantly the patient as it emphasizes a
proactive approach to wellness." A recent study conducted by the
Center for Health Statistics, a division of the North Carolina
Division of Public Health, concluded that 11% of hospitalizations
could have been avoided with primary care intervention. The mission
of Renaissance Health Systems (RHS) is to provide quality,
proactive and cost-effective healthcare to our patients while
simultaneously improving their quality of life and lifestyle. The
Quantum Group, Inc. is a Wellington, Florida-based healthcare
company, providing outsourcing, technology-based solutions,
government compliance, education, policy consulting and venture
management to the healthcare industry. Quantum is currently
involved in: outsourcing for physicians, managed care
organizations, healthcare facilities, and physician associations;
developing three patent-pending healthcare solutions identified as
Cybernaptics(SM), Quantum Quotient(SM) (or QX2)(SM) and
MDAutomated(SM), all with the intention to provide new efficiencies
to the $1.6 billion U.S. healthcare system; and providing
leading-edge healthcare services to consumers. The Quantum Group --
"healthcare solutions for a new generation."(SM) 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 model, 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 report will, in fact, occur. Media
Contact: Danielle Amodio Director of Corporate Communications The
Quantum Group, Inc. 561.798.9800 DATASOURCE: The Quantum Group,
Inc. CONTACT: Danielle Amodio, Director of Corporate
Communications, The Quantum Group, Inc., +1-561-798-9800 Web site:
http://www.thequantumgroupinc.com/
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