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National Hyperbaric Rehab Center Announces 50 Hospital Program Launch

Posted on: Tuesday, 2 May 2006, 06:01 CDT

National Hyperbaric Rehab Centers Inc. "NHRC" (Pink Sheets: NHYB) announced today a strategic partnership with a group in Houston to launch the national hospital program. They have illustrated the combined abilities to become the forerunners in the growth objectives of the company to expand its services through the joint venture hospital facility expansion program. The Texas Partners consist of three individuals who each have specific expertise in several key areas of targeted growth for NHRC. Greg Mayfield, CEO of IPSFN; Richard D. Bell, CEO of HMCFUNDS; and Scott E. Covington, president of S. E. Covington & Co., 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 Partnership Letter of Intent has been signed by all parties concerned and includes specific requirements for the Texas Partners to provide 50 hospitals under contract with NHRC within the next five years. The Letter of Intent also includes a requirement to provide the necessary expansion capital to facilitate the equipment purchase, hospital build-outs, and initial operating expense for each acquired hospital joint venture. Each hospital joint venture is projected to have the potential to generate more than $445,000 gross revenue per month at full capacity.

NHRC's joint venture program with hospitals will create several key benefits to patients, hospitals, and NHRC. Hyperbaric treatment has been used to stimulate the growth of new capillaries and tissue and therefore expedite healing. This treatment is currently approved by Centers of Medicare and Medicaid Services (CMS) for the purpose of healing serious wounds and treating potential amputation nominees. Research and testing is currently being conducted in the hyperbaric industry in regards to targeted treatment of other serious illnesses and injuries. With this breakthrough program, hospitals can now refer patients to their in-house hyperbaric facility operated by the professionals at NHRC. This arrangement offers supplementary revenues to the hospital without the extra expense traditionally involved in such an expansion. This arrangement positions NHRC to receive immediate income through the hospital's patient flow and additionally qualifies for higher hospital billing rates for increased profitability.

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: Business Wire

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