The Quantum Group, Inc. Announces the Closing of Additional $1.55 Million in Convertible Debt Financing
07 May 2007 - 11:00PM
PR Newswire (US)
Completes a Total of over $5.85 Million in Funding During the Last
Twelve Months & Expands to New Markets WELLINGTON, Fla., May 7
/PRNewswire-FirstCall/ -- The Quantum Group, Inc. (OTC:QNTM)
(BULLETIN BOARD: QNTM) (http://www.quantummd.com/) announced today
that it has closed on $1.55 million, which represents its third
round of convertible debt financing. Including this close, the
Company has raised over $5.85 million in the last twelve months.
The terms of the financing will be disclosed in a Form 8-K to be
filed shortly with the Securities and Exchange Commission. Further,
the Company has announced its plans to enter an additional four
markets by year end 2007. With the addition of these new strategic
markets, the Company is now expanding to a total of 26 counties
which represent 82% of the 65 and over population in the state of
Florida. The offer and sale of the Company's securities noted above
was made pursuant to exemptions from the registration requirements
of the Securities Act of 1933, as amended. All of the offers and
sales of the Company's securities were made exclusively to
accredited investors in offers and sales not involving a public
offering insofar as the purchasers in the private placement were
accredited investors purchasing the securities for their own
account and not with a view towards or for resale in connection
with their distribution. The private placement was conducted
without general solicitation or advertising. This public disclosure
shall not constitute an offer to sell or the solicitation of an
offer to buy the securities, nor shall there be any offer or sale
of the securities in any state in which such offer, solicitation or
sale would be unlawful. The Quantum Group, based in Wellington,
Florida, is one of Florida's largest community based healthcare
provider systems. In conjunction with its subsidiary companies,
Renaissance Health System of Florida, Inc. (RHS)
(http://www.rhsfl.com/) and QMed BILLING, Inc.
(http://www.qmedbilling.com/), Quantum provides administrative and
support services to the Florida managed care industry as well as to
the physicians of Florida. Through our growing number of over 1,300
contracted physicians and multiple managed care relationships in
the state of Florida, we are strategically positioned to bring
increased efficiencies to the over $100 billion Florida healthcare
industry. According to an article published in the August 22, 2006
edition of the New York Times (By Gina Kolata), "By 2030, predicts
Robert W. Fogel, a Nobel laureate at the University of Chicago
Graduate School of Business, about 25 percent of the G.D.P. will be
spent on health care, making it "the driving force in the economy,"
just as railroads drove the economy at the start of the 20th
century." 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 substantial uncertainties and risks
in part detailed in the respective Company's Securities and
Exchange Commission 10-KSB, 10-QSB, 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,
expectations, representations 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 substantial and immediate
additional capital to implement its continuing business model, the
ability to attract and retain personnel - including highly
qualified executives, management and operational personnel, ability
to negotiate favorable current debt and future capital raises,
ability to manage the care of its patients with reasonable medical
loss ration, ability to negotiate beneficial managed care
agreements with a diversified and expanding provider base, continue
to supply the services needed by the HMO clients as well as the
growing list of physician clients 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 of The Quantum
Group, Inc., +1-561-798-9800 Web site: http://www.quantummd.com/
http://www.qmedbilling.com/ http://www.rhsfl.com/
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