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Phyhealth Provides Business Update on the First Half of 2007

Posted on: Thursday, 6 September 2007, 09:11 CDT

Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians, today provided a business update for the first half of 2007.

Mr. Robert Trinka, chairman and chief executive officer, stated, "Phyhealth has been hard at work putting the pieces in place to provide a workable, comprehensive and value-driven solution to the problem-plagued American healthcare system, which few would disagree is in need of an innovative approach that benefits patients, doctors and the overall health of our communities. In our view, the solution evolves from community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians, thereby aligning incentives among the HMO, participating physicians and patients so that everyone benefits. In essence, we are restructuring the delivery system and refocusing it on the physician-patient relationship, which is the most fundamental element of the healthcare system. To that end, over the past few months we have achieved important milestones that should enable us to roll out our first HMO by the first half of 2008."

Recent Developments:

Secured $4 million to begin the application process for obtaining an HMO license

Signed a $600,000 convertible debenture to generate additional working capital for marketing initiatives

Completed the audit of financial statements for fiscal years ended December 31, 2006 and 2005 in preparation for filing with the SEC to become a fully-reporting company, and an anticipated listing on the Over-the-Counter (OTC) Bulletin Board

Entered discussions with physician groups interested in establishing community-based HMOs

Mr. Trinka continued, "There are important advantages to Phyhealth's unique approach to healthcare. First and foremost, the scenario gives the physician end-to-end responsibility for managing the health of his patients, thereby ensuring the best care by putting healthcare decisions back in the hands of the doctor. Second, the financial advantages to providing preventive healthcare and proactively managing patients' general health will be realized by the patient as well as the doctor who can now be paid for providing "well-care" services through his vested interest in the HMO partnership. We expect the application process for our first HMO to be completed by the first half of 2008."

Mr. Trinka concluded, "Once we have established our community-based HMOs, we look forward to layering on value-added services, which could include medical malpractice insurance through our Physhield affiliate, local care facilities and wellness programs, as well as information technologies, such as secure electronic medical records. These features will be added over time in cooperation with the participating physicians. Our approach will fully integrate all the delivery and financing components of the healthcare system and direct resources to meet the specific needs of communities. Preliminary discussions have been met with enthusiasm, and we are excited about the prospects that lie ahead for Phyhealth and the industry."

About Physicians Healthcare Management Group, Inc.

Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer of community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians. Phyhealth Plans are designed to deliver high-quality affordable healthcare by enabling physicians to assume end-to-end management of healthcare for their patients. The Phyhealth model empowers physicians to provide preventive healthcare and proactively manage their patient's general health by aligning incentives amongst the HMO, physician and the patient. Phyhealth intends to offer additional value-added products and services in cooperation with physicians, including medical malpractice insurance, local care facilities and wellness programs, as well as information technologies such as secure electronic medical records.

Forward-Looking Statements

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management Group, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Additional information is available at: http://www.phyhealth.com.

Source: Business Wire

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