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Omni
Medical Holdings Acquires DataFuzion in
Stock Transaction
March 3, 2005
RAPID CITY , S.D. – March 3, 2005 – Omni
Medical Holdings, Inc. (OTCBB: ONMH ) has
acquired majority interest in DataFuzion,
Inc. in a share exchange transaction and
will seek to acquire all of DataFuzion's
outstanding shares over the next sixty
days. Littleton , Colorado based DataFuzion
will continue operation under its current
name and structure as a wholly owned subsidiary
of Omni Medical Holdings.
The combined companies are projected to
have revenue in excess of $3.5 million
and generate positive cash flow for calendar
year 2005. Additionally, both companies
have numerous acquisition targets that
would be accretive to earnings if acquired.
"DataFuzion is a top of the line
company and we are very excited to bring
them on as an important part of our business
strategy. They provide critical technology
and management tools that will make Omni
a national leader in providing medical
services," said CEO Arthur Lyons.
DataFuzion CEO Doug Davis said, "DataFuzion
is pleased to join the team created by
Omni Medical Holdings. This combination
of management, products, and services will
allow us to offer a full array of ASP hosted
medical management systems, reporting tools,
and claims adjudication to all types of
healthcare organizations."
DataFuzion, Inc. is a privately held medical
products and services company providing
turn-key back office solutions to medical
practitioners, facilities, and other healthcare
enterprise customers. Their practice management,
EMR and decision support reporting tools
are designed to maximize practice performance
by identifying revenue enhancement and
cost saving opportunities. These services
also eliminate the upfront costs and ongoing
expense of ownership, upgrading, staffing
and maintaining internal operations and
systems. Additional information can be
found at www.datafuzion.com .
ABOUT OMNI MEDICAL HOLDINGS,
INC.
Omni Medical Holdings, Inc. provides medical
billing and transcription services to medical
practitioners throughout the United States
through its wholly owned subsidiary, Omni
Medical Services, Inc. Omni is aggressively
seeking out new acquisitions that are compatible
with its desired intent to expand and become
a national leader.
Omni Medical Holdings, Inc. provides medical
billing and transcription services to medical
practitioners throughout the United States
through its wholly owned subsidiary, Omni
Medical Services, Inc. Omni is aggressively
seeking out new acquisitions that are compatible
with its desired intent to expand and become
a national leader.
This press release may include forward-looking
statements within the meaning of Section
27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934.
These statements are based on the Company's
current expectations as to future events.
However, the forward-looking events and
circumstances discussed in this press release
might not occur, and actual results could
differ materially from those anticipated
or implied in the forward-looking statements.
For further information,
please contact:
Richard Rappaport
Anthony Pintsopoulos
WestPark Capital, Inc. (310) 843-9300
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067
http://www.wpcapital.com |
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