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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jules who wrote (18622)	8/2/1999 2:40:00 PM
From: myturn	Respond to of 25711

RPHL, a great story that is getting overlooked by the investment community. Check out today's news! Company's goal for the year was to generate only $4 million in revenue for the year. They have already doubled their revenue for the year and they are growing extremely fast. Rockport Healthcare Exceeds Revenue Expectations in its Workers Compensation Provider Networks Division; (www.rockporthealthcare.com) HOUSTON, Aug. 2 /PRNewswire/ -- Rockport Healthcare Group, Inc., (OTC Bulletin Board: RPHL - news) an integrated healthcare services provider company, today announced its Workers Compensation Preferred Provider Organization exceeded 250,000 employees that utilize its Occupational and Industrial Provider Networks in five States. The Company expects to generate $4,000,000 in gross revenues from this Workers Compensation subsidiary, Rockport Community Network Inc., alone in 1999. This represents a 45% increase from management expectations. Rockport Community Network (RCN) added a new client in late July and with this new client RCN is processing over $58,000,000 in medical care bills. This business represents just over $3,000,000 annually in fee revenue to Rockport Healthcare Group in 1999. RCN has accomplished this milestone in less than six months. RCN is negotiating with fifteen (15) potential new clients who have spent over $120,000,000 in paid medical bills last year and the list grows weekly. RCN dominates the Houston market with over 150,000 covered lives in its Workers' compensation network. These 150,000 employees represent over $35,000,000 in paid medical bills. RCN anticipates another fifteen million ($15,000,000) in paid medical bills to be added to its Houston customized network by August 31 of this year. Harry Neer, CEO of Rockport Healthcare Group stated: ''We are very pleased with the efforts of our staff in the last few months as the core business has really begun to take off. I expect many positive developments for the Company in the near future. We expect to be the dominant player in Workers' Compensation in Texas by the end of the year. We will continue to grow where our clients want us to go.'' RCN manages healthcare provider networks for its clients. RCN customizes its healthcare provider networks to address its clients' specific needs in workers' compensation, group health and the underinsured and uninsured population. Rockport is aggressively expanding its healthcare provider networks through contracting and acquisition. The Rockport Healthcare Group, Inc. family of companies includes Rockport Community Network, Inc., a managed care organization; Rockport Occupational Network, Inc., an Exclusive Provider Worker's Compensation Network; Rockport Preferred, Inc., Medical Access Savings Card Programs; Newton Healthcare Network, LLC, a Preferred Provider Organization; and Rockport Group of Texas, Inc., a Healthcare Administrative Services Company. This press release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission. www.rockporthealthcare.com FOR MORE INFORMATION PLEASE CONTACT: Larry Hinson Rockport Healthcare Group, Inc. Investor Relations 713-621-9424