Here is another very important deal we are awaiting terms on: The Millennium Healthcare Card Deal:
COLUMBIA CAPITAL ENTERS HEALTHCARE PROCESSING FIELD
Fort Lauderdale, FL, May 29, 1998 COLUMBIA CAPITAL CORP. (NASDAQ:
CLCK-BB) announced today that its wholly-owned subsidiary First Independent Computers, Inc. has expanded its business to include processing for health care-related companies. Columbia's president, Ken Klotz said that First Independent Computers, Inc. (FICI), a wholly-owned subsidiary, has been devoting substantial effort towards developing additional processing business in the health care industry. He stated, "A number of companies have approached us, looking for alternatives to the traditional high-cost processing, associated with health care. I believe that FICI's flexibility and the ability to develop customized solutions to their processing needs, will result in substantial new business for us".
Mr. Klotz, stated that over six months of development work has started to pay off with the signing of an agreement to process cards for the Millennium Health Card Program. While Klotz said that he could not comment on the details of the agreement, at this time, he did say "This is, potentially, the largest contract that we have ever signed." While the company will be paid a monthly processing fee for each account, Klotz refused to speculate on the revenues that the program would produce for CLCK, stating that "we'll have to wait to see how the ramp-up period goes, before we can make meaningful income projections."
According to Mr. Klotz, this contract opens up a new line of business for the rapidly growing banking and financial services company. Prior to this time, the company's clients have been primarily financial institutions, for which it provides credit and debit card processing, banking and financial services accounting and processing services and
document storage and retrieval systems.
Columbia Capital Corp. operates through its wholly-owned subsidiary, First Independent Computers, Inc., which is a multi-faceted information processing service organization. The services provided by the Company include credit and debit card processing, bank and financial services processing and document management and distribution services. The Company concentrates on a niche market, consisting of small to medium-sized financial institutions, that have not achieved the economies of scale to operate their own in-house programs and systems.
Forward-looking statements in this press release are necessarily subject to risks and uncertainties, which may affect the accuracy of such statements. Such risks may include any delays in the addition of business or loss of existing customers. For a full discussion of such risks, please refer to the Company's Form 10-KSB for the fiscal year ended December 31, 1997 and subsequent filings. The company undertakes no obligation to update such factors or to publicly announce the results of any revisions to the forward-looking statements contained herein.
Hope this helps a little KLAW97, I'm headed to bed!
Regards, Jeff |
