Exhibit 99.1
healthcare solutions for a new generationSM
3420 fairlane farms road, suite c ¨ wellington, florida 33414 ¨ 561.798.9800 (office) ¨ 561.296.3456 (fax)
The Quantum Group Reaches 3,300 Patients Under Management
Patient base grows by 218% in one year
WELLINGTON, Fla. (October 23, 2008) - The Quantum Group, Inc. (AMEX:QGP) (www.QuantumMD.com), a Wellington, Florida based healthcare organization,announced today that it has increased the active patient base to 3,300, using the community health systems (CHS) which have been established by Quantum subsidiary,Renaissance Health System of Florida, Inc.
The traditional Medicare Advantage Open Enrollment period begins November 15, 2008 and the Company has systematically strengthened its infrastructure throughout the past year in preparation to accept new patients during this enrollment period.
Noel J. Guillama, President & CEO, commented, “We are pleased to have demonstrated a 218% growth in our patient base since October 31, 2007. We believe this progress is a testament to the strong relationships our team of Provider Specialists have forged with each of our contracted health plans/payers and providers/doctors. We believe our partners have recognized the value of our model and have entrusted the care of their membership to our experienced team. We are eager to expand our services as we take on more patients throughout the open enrollment period.”
About The Quantum Group, Inc.
The Quantum Group provides business process solutions, service chain management, strategic consulting and leading edge technology innovations to the healthcare industry.
Through our dynamic patient-centric architecture, we empower the communication that is critical for the coordination of care and take aim at the $600 billion inefficiency gap in the United States healthcare industry. We are
guided by a mission to develop efficiencies, improve the quality of patient care and achieve cost reductions for the nation’s largest and fastest growing industry.
We have developed leading-edge technology with the creation and deployment of a series of innovative patent-pending initiatives. Through approximately 2,000 healthcare providers and multiple insurance company relationships under management, we are positioned to be a catalyst for change to the Florida healthcare industry.
Certain statements contained in this news release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to substantial uncertainties and risks in part detailed in the respective company’s Securities and Exchange Commission 10-KSB, 10-QSB, S-8 and 8-K filings (and amendments thereto) that may cause actual results to materially differ from projections. Forward-looking statements can be identified by the use of words such as “expects,” “plans,” “will,” “may,” “anticipates,” “believes,” “should,” “intends,” “estimates” and other words of similar meaning. These statements are subject to risks and uncertainties that cannot be predicted or quantified and, conseq uently, actual results may differ materially from those expressed or implied by these forward-looking statements. Such risk factors include, without limitation, the ability of the Company to properly execute its business model, to raise substantial and immediate additional capital to implement its business model, to attract and retain executive, management and operational personnel, to continue growing its patient base, to negotiate favorable current debt and future capital raises, to negotiate favorable agreements with a diversified provider base and to continue to supply the services needed by its HMO clients as well as physician clients. The Company does not undertake any obligation to publicly update any forward-looking statements. There can be no assurance that the provisional patents discussed in this press release will be granted by the US Patent and Trademark Office, or, if they are granted, they will not be challenged by third parties, or if not that we will be able to e ffectively use or commercialize such patents and/or we may not have the resources to deploy such technology. As a result, investors should not place undue reliance on these forward-looking statements.
FOR MORE INFORMATION, PLEASE CONTACT:
PR Financial Marketing
Jim Blackman: 713-256-0369
jim@prfmonline.com
or
The Quantum Group, Inc.
Danielle Amodio: 561.798.9800
damodio@quantummd.com