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National Health and Safety Corporation --------------- Quote: quote.yahoo.com SEC filings: edgar-online.com Last Trade (Jun 24, 1998): 0.277 --------------- News announced today: Thursday June 25, 8:00 am Eastern Time Company Press Release SOURCE: National Health and Safety Corporation National Health & Safety Announces $30 Million Joint Venture; New Medical Technologies Available to 300,000 Hospitals and Doctors WARMINSTER, Pa., June 25 /PRNewswire/ -- National Health and Safety Corporation (OTC Bulletin Board: NHLT - news) announced today that it will launch a joint venture with American Insurance Marketing, Inc., of Prince Frederick, MD and with Global American Health & Environmental Fund, St. Louis, MO to market a wide spectrum of insurance, financial and leasing services to National Health & Safety's network of 500,000 hospitals, physicians and other providers. The joint venture, which will form a new division of National Health & Safety, marketed under the name of ACCESS ADVANTAGE and named after National Health & Safety's national medical discount network, which is marketed under the trade name ''POWERx ACCESS.'' Bowers said, that ACCESS ADVANTAGE is expected to add about $30 million per year to the Company's revenue, with net operating margins of about 20% following the first year's ramp up. ACCESS ADVANTAGE will be sold by National Health & Safety's network of 400 brokers nationwide. National Health & Safety Corporation is a national provider of low-cost healthcare benefits, primarily to small businesses, national associations, trade organizations, and consumer groups. Its medical network, similar to a national PPO in structure, includes about 65% of the nation's hospitals and doctors, about 95% of the nation's pharmacies, plus national networks of dentists, psychologists, home nursing specialists, chiropractors and other health care providers. American Insurance Marketing markets a wide spectrum of insurance, financing and medical receivable programs to the health industry. ''Our goal is to make certain that our providers earn a huge return in exchange for serving our clients,'' explained National Health & Safety's CEO, Dr. Dennis Bowers. Bowers said, ''that ACCESS ADVANTAGE will provide a spectrum of value added benefits to our providers'' and will include: 1. New treatment procedures and medical technology for which National Health & Safety has gained the exclusive marketing rights. These technologies are expected to increase an average size hospital's billable revenues up to $5 million per year, according to Bowers. 2. Low cost malpractice insurance. 3. Non-recourse medical receivables financing for self-pay consumers. 4. Wholesale buying privileges for about 250,000 items of medical equipment and supplies, furniture, computers and other items used by hospitals and outpatient physicians. The goods will be shipped from a network of 10 warehouses nationally to reduce shipping time to providers. 5. Low cost leasing rates for capital goods. 6. A medical line of credit up to $5,000 for any patient with or without insurance. SOURCE: National Health and Safety Corporation -------------------------------------------------------------------------------- Interesting where this one will go... | ||||||||||||||
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