OSF, Healthcare Services Inc. Lands Contract via Subsidiary
OSF, Inc. (OTC: OSSI) a publicly traded company has secured a contract through its wholly owned subsidiary, Healthcare International, Inc., with Vista Community Medical Center, located in Pasadena, Texas. Healthcare International, Inc., will provide Physical and Occupational Therapy Services at Vista Community Medical Center
Houston, TX (PRWEB) March 16, 2004
Houston, Texas OSF Healthcare Services, Inc., a wholly owned subsidiary of OSF, Inc. (OTC: OSSI) a publicly traded company has secured a contract through its wholly owned subsidiary, Healthcare International, Inc., with Vista Community Medical Center, located in Pasadena, Texas. Healthcare International, Inc., will provide Physical and Occupational Therapy Services at Vista Community Medical Center where there are ill and disabled persons admitted for therapy care services. Terms of the contract are perpetual with a 30-day notification by either party for termination. The Company expects this contract to generate over $125,000 per month in new revenues.
“With this contract in place, it really puts OSF Healthcare, Inc., ahead of its plan of being able to generate revenues substantial enough to provide a return on investment for OSF, Inc.’s shareholders,” stated Winfred Fields, President of OSF Healthcare, Inc. Since acquiring Healthcare International, Inc., in December 2003, OSF Healthcare Services, Inc., has generated more than $160,000 in medical billing. The greatest percentage of overall revenues has occurred in the most recent thirty days. OSF, HCS Inc., has recently discovered billing errors and has re-billed over $100,000 from earlier services that had already been performed. “This re-billing gives me the confidence that we are putting the proper systems in place so that we are able to not just collect our receivables but making sure that we properly bill for services that are being performed,” stated Winfred Fields, President, OSF Healthcare Services, Inc. With a more efficient run healthcare services division, OSF HCS, Inc., is looking forward to having sustained growth from this division.
This news release contains forward-looking statements that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; and other risks that are described from time to time.
Contact:
Lloyd P. Broussard, CEO
Winfred Fields, CFO
OSF, Inc.
Voice:832-251-8500
