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PainCare Holdings to Deploy EDX-Direct Program at Physicians' Services, Inc. In Central Florida

Posted on: Thursday, 7 July 2005, 09:01 CDT

ORLANDO, Fla., July 7 /PRNewswire-FirstCall/ -- PainCare Holdings, Inc. , a world class leader in the delivery of orthopedic rehabilitation, minimally-invasive spine surgery and pain management solutions, today announced that Physicians' Services, Inc. has contracted to deploy the Company's proprietary EDX-Direct Program on-site at its primary internal medicine practice in Lake Wales, Florida.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050329/NYTU045LOGO )

Established by Kulmeet Kundlas, M.D., Physicians' Services, Inc. administers over 23,000 patient visits each year at its two primary care locations and one adult walk-in clinic, all located in the Central Florida area. Staffed with three full-time physicians, with plans to expand to five within 60 days, Physicians' Services emphasizes diagnosis, preventive health and continuity of care for its established patient base.

"We are routinely confronted with patients suffering from chronic neuromuscular pain, so we are anxious to begin using PainCare's EDX-Direct Program to aid in our diagnosis and resulting treatment," stated Dr. Kundlas. "With plans to initially introduce the Program at one of our primary care locations, we look forward to discovering how this innovative technology can help us to further enhance the level of care that our patients have come to expect from Physicians' Services. If all goes well, we will indeed expand our relationship with PainCare to provide for EDX-Direct Programs at each of our practice and clinic locations."

About EDX-Direct

Marketed by PainCare Holdings as EDX-Direct, this program provides for PainCare to supply contracted physician practices with all equipment, technical training and support necessary to introduce Electro-diagnostic medicine into their respective practice care offerings. Physicians in the contracted EDX-Direct program supply the necessary office space and manage all medical billing and collection activity.

Considered by many medical experts as one of the most accurate and objective methods of diagnosing the origin of pain in the neuromuscular system, Electro-diagnostic Medicine involves technical procedures (or Nerve Conduction Studies) used to objectively assess the functional status of the peripheral neuromuscular system. When a nerve is stimulated electrically, a reaction occurs somewhere along the nerve. The reaction to this stimulation can be monitored and the time relationship between the stimulus and response can be displayed, measured and recorded. Measuring the electrical activity in nerves can help detect the presence, location and extent of diseases and injuries that damage nerves and result in recurring pain.

About PainCare Holdings, Inc.

Founded in Orlando, Florida in 2000, PainCare is rapidly emerging as one of North America's leading providers of cost-effective, high-tech pain relief. The Company has established and is aggressively expanding a highly specialized, professional health services organization that is comprised of many internationally renowned neuro -- and orthopedic surgeons, physiatrists and pain management specialists. Specifically, PainCare's cadre of medical professionals offer pain sufferers a wide range of modalities including interventional pain management, minimally invasive spine surgery and orthopedic rehabilitation.

Through acquired or managed practices, and in partnership with independent physician practices, group practices and medical institutions throughout the country, PainCare also offers numerous ancillary services including MedX- Direct, a proprietary, on-site, turnkey orthopedic rehabilitation program; EDX-Direct, a comprehensive electro-diagnostic medicine program; diagnostic imaging services; Intra Articular Joint Program, a proprietary, non-operative treatment protocol for addressing knee pain and stiffness caused by osteoarthritis; and medical real estate services. In addition, the Company owns and operates four ambulatory surgery centers located in the southeast region of the United States.

For more information on PainCare Holdings, please visit http://www.paincareholdings.com/

This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and are made based on management's current expectations or beliefs as well as assumptions made by, and information currently available to, management. These forward-looking statements, which may include statements regarding our future financial performance or results of operations, including expected revenue growth, cash flow growth, future expenses, future operating margins and other future or expected performance, are subject to the following risks: the acquisition of businesses or the launch of new lines of business, which could increase operating expenses and dilute operating margins; the inability to attract new patients by our owned practices, the managed practices and the limited management practices; increased competition, which could lead to negative pressure on our pricing and the need for increased marketing; the inability to maintain, establish or renew relationships with physician practices, whether due to competition or other factors; the inability to comply with regulatory requirements governing our owned practices the managed practices and the limited management practices; that projected operating efficiencies will not be achieved due to implementation difficulties or contractual spending commitments that cannot be reduced; and to the general risks associated with our businesses.

In addition to the risks and uncertainties discussed above you can find additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements in the reports that we have filed with the Securities and Exchange Commission. The forward-looking statements contained in this press release represent our judgment as of the date of this release and you should not unduly rely on such statements. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise after the date of this press release. In light of these risks and uncertainties, the forward-looking events and circumstances discussed in the filing may not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

FOR MORE INFORMATION, PLEASE CONTACT: Media Relations Mike Krutzler, Higher Advertising, Inc. +1-407-447-1340 Mike@highadvertising.com Investor Relations Stephanie Noiseux, Elite Financial Communications Group, LLC +1-407-585-1080 prz@efcg.net

Photo: http://www.newscom.com/cgi-bin/prnh/20050329/NYTU045LOGO

PainCare Holdings, Inc.

CONTACT: Media Relations, Mike Krutzler of Higher Advertising, Inc.,+1-407-447-1340, Mike@highadvertising.com; or Investor Relations, StephanieNoiseux of Elite Financial Communications Group, LLC, +1-407-585-1080,prz@efcg.net

Web site: http://www.paincareholdings.com/

Source: PRNewswire-FirstCall

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