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-------------------------------------------------------------------------------- NHYB (.13) Signs Final Agreement with Texas Partners Jul 12, 2006 7:15:00 AM Copyright Business Wire 2006
SALT LAKE CITY--(BUSINESS WIRE)--July 12, 2006--
National Hyperbaric Rehab Center, Inc. "NHRC" (Pink Sheets:NHYB) announced today the signing of the final Joint Enterprise Agreement with the Texas Partners. They have illustrated the combined abilities to become the forerunners in achieving the expansion objectives of the Company to expand its services through the joint venture hospital facility expansion program. The Texas Partners consist of three individuals that each has specific expertise in several key areas of targeted growth for NHRC. The principles and the web sites about them and their companies are -- Greg Mayfield, CEO of McCall Medical and IPSfn (See www.IPSfn.com), located at 16800 Greenspoint Park Drive, in Houston, TX; Richard D. Bell, CEO of HMCFUNDS, (See www.hmcfunds.com), located in Webster/Clearlake Texas; and Scott E. Covington, President of S. E. Covington & Company (See www.secovinton.com), located in Houston, Texas. The Texas partners collectively bring to the organization many years of experience, expertise and personal contacts in the medical field, including personal relationships with hospital administrations, hospital owners/operators, and medical center developers.
The Texas Partners Joint Enterprise Agreement includes provisions and expectations that the Texas Partners will provide fifty hospitals under contract with NHRC within the next five years. The Agreement also provides for joint efforts to secure the expansion capital to facilitate the equipment purchase, hospital build-outs, and initial operating expense for each acquired hospital joint venture. Jerry Gines, President says, "The Advanced Wound Care Centers that NHRC establishes in hospital departments have the potential to exceed $325 million gross annual sales with fifty hospitals."
NHRC expects to announce the first three Hospital Departments which have been referred by our Texas Hospital partners in the next week or two. The Previously announced Hospital Department at Tucson Medical Center, in Tucson, AZ is an example of the top 100 caliber hospitals NHRC expects to continue to align with. NHRC will continue to sign a number of additional Hospital Department Contracts this year and in fact expects to have signed a total of approximately ten additional Hospitals by the end of 2006. NHRC anticipates adding another twenty Hospital Departments next year.
Statements contained in this press release that are not statements of historical fact are "forward-looking statements" as that term is defined under federal securities laws, including, without limitation, all statements concerning expectations, beliefs, goals, intention or strategies for the future of National Hyperbaric Rehab Centers, Inc. Forward-looking statements may be identified by words such as "goals," "plans," "believes," "will," "expects" and other words of similar meaning used in conjunction with, among other things, discussions of future operations, financial performance, product development and new ventures. Many factors could cause actual events or results to differ materially from those expressed in any forward-looking statement. Investors are cautioned not to place any undue reliance on any forward-looking statements.
Source: National Hyperbaric Rehab Center, Inc.
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National Hyperbaric Rehab Center Inc. Jerry Gines 801-964-2008
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