Capital Development Group Purchases HealthSource Financial Advisors.Business Editors/Health Writers RIVERSIDE, Calif.--(BUSINESS WIRE)--June 2, 2000 Capital Development Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CDVG), an internet based provider of billing, collection and consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" to middle market health care providers, has completed the second phase of an aggressive acquisition program by purchasing HealthSource Financial Advisors (HFA HFA Harvard Film Archive (Harvard University) HFA Harry Fox Agency, Inc. HFA Housing Finance Agency (District of Columbia government) HFA Hyogo Framework for Action HFA High-Functioning Autism ), providers of medical consulting and financing programs. Mike Vahl, President/CEO of CDVG, stated that HFA was purchased for CDVG stock and the assumption of ongoing expenses of the company including funding for additional refinement of HFA's existing and active programs. Vahl said, "HFA's main focus has been and will continue to be providing information tools that increase revenue and profitability for its clients." HFA was established to provide consulting services to financial institutions dealing with the factoring of medical accounts receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying . In addition to this consulting role, HFA has been working on an innovative method of financing hospital receivables and is actively pursuing strategic alliances to begin this portion of their operation. HFA's consulting services include analysis of accounts receivable, due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. reports on potential financing clients, and recommendations of funding levels. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Peter Smith, president of HFA, the acquisition of HFA by CDG (CDMA Development Group, Costa Mesa, CA, www.cdg.org) A membership organization founded in 1995 that promotes CDMA wireless systems worldwide. It is involved with developing new features and services and promoting standards that provide global compatibility and interoperability. will allow HFA to aggressively market its services as well as provide a marketing arm for the IntraMed software recently purchased by CDVG. In its dealings with various medical providers and financing institutions HFA has developed a significant network of contacts that can rapidly expand the client base of HFA and CDVG. Capital Development Group was originally founded in 1993. In 1999, the company was reengineered to provide a service for factoring, billing and collecting accounts receivables for financial institutions that either factor or finance Medical Healthcare Providers or directly for the providers themselves. The company also factors directly managed care claims for hospitals. |
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