THE ADMAR GROUP INC. ACQUIRES IMAGE FINANCIAL AND INSURANCE SERVICES INC.
THE ADMAR GROUP INC. ACQUIRES IMAGE FINANCIAL AND INSURANCE SERVICES INC. SANTA ANA, Calif., Sept. 2 /PRNewswire/ -- The Admar Group Inc. (NASDAQ: ADMR) today announced that it has signed an agreement acquiring Image Financial and Insurance Services Inc. ("DBA Image Marketing") for $189,673 in cash payable $65,000 down and $124,673 over one year. Image Marketing, Laguna Niguel, Calif., with annualized revenues exceeding $750,000, provides telemarketing and direct response sales capabilities on behalf of the insurance industry. These programs offer specialized product distribution, marketing and prospecting techniques. "Image provides insurance industry clients with the ability to expand the marketing of their products," said Stephen Goodell, president of Admar's Managed Benefits Division. "Image brings a proven track record in selling to focused markets, such as national trade associations, which compliments Admar's marketing plan." "Since our founding in 1987, Image has developed a successful combination of insurance, direct response and telemarketing sales techniques. Alignment with Admar will enable Image to enhance its capabilities through the resources and facilities of a national leader in managed health care," said Jack Hunn, president of Image Marketing. The Admar Group Inc. develops markets and administers managed health-care services which facilitate the delivery and manage the cost of providing health care through contracted insurance carriers and self-insured employer groups. Admar's services are marketed as an adjunct to employee health care benefit plans. Programs include Preferred Provider Organizations and Exclusive Provider Organizations; the HealthWatch Medical Review System, designed to ensure appropriate use of hospitalization for medical/surgical, substance abuse, mental health, catastrophic illness and injuries; HealthWatch Advantage, a hospital and surgical negotiation program; and Managed Benefits Division, which provides management of employee benefits. -0- 9/2/92 /CONTACT: Edward Evans, VP-finance of The Admar Group, or Stephen Goodell, president-Managed Benefits Division of Admar Corp., 714-953-9600/ (ADMR) CO: The Admar Group Inc.; Image Financial and Insurance Services Inc. ST: California IN: HEA INS SU: TNM
AL -- LA011 -- 5903 09/02/92 12:08 EDT
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|Date:||Sep 2, 1992|
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