Healthcare Business Services Groups, Inc. Settles Legal Battles
Posted on: Tuesday, 14 November 2006, 09:01 CST
Healthcare Business Services Groups, Inc. ("HBSGI") (OTCBB: HBSV) today announced that on November 8, 2006, in the related cases Ghadimi vs. Healthcare Business Services Groups Inc. and Tariq vs. Heathcare Business Services Groups Inc., settlements were reached after battling over four and a half years. As a result, HBSGI will experience a significant decrease in liability and legal costs.
"It has been a constant expense for the company to maintain these lawsuits for the past four and a half years. We look forward to move on from it and direct our focus to the future of the Company," said Chandana Basu, Chief Executive Officer of HBSGI.
About Healthcare Business Services Groups, Inc.
Healthcare Business Services Groups, Inc. ("HBSGI") is a provider of full-service medical billing services and solutions and operator of surgery centers. The company provides traditional, customized medical billing services and support to physicians and healthcare facilities across the nation. In addition to its core medical billing services, HBSGI offers a comprehensive, full-service medical billing software product, AutoMed(R) copyright 2006, which the company believes is the only fully automated practice management and billing software available on the market.
Forward-Looking Statement: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release contains, or may contain, forward-looking statements such as statements regarding the company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the company's filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.
Chandana Basu CEO (HBSV: OTCBB) Healthcare Business Services Groups, Inc. (909) 608-2035, (909) 821-1419 cbasu@hbsgi.com, colorred01@aol.com
SOURCE: Healthcare Business Services Groups, Inc.
Source: MARKET WIRE
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