Tiger Team Technologies Begins Trading under New CUSIP and Ticker Symbol As Physicians Healthcare Management Group, Inc.
Under the terms of the acquisition and restructuring announced in May, management of the Miami, FL-based managed healthcare company gained approximately 53% ownership interest, voting and management control over Tiger Team Technologies, resulting in PHYHEALTH as the sole surviving entity and business. Post restructuring and acquisition, the Company has approximately 228 Million common shares outstanding and approximately 162 Million Preferred Shares outstanding.
PHYHEALTH, with its affiliated companies, PHYSHIELD Insurance Exchange, a Risk Retention Group, and PHYHEALTH Underwriters, Inc., are leading-edge players in the positive transformation of the nation's healthcare system. PHYHEALTH Plans give its physician partners control over the physician-patient relationship and the decisions affecting patient care. The company's unique PHYHEALTH Plans make it possible for independent physicians and physician groups to integrate all the elements of healthcare delivery and financing in order to deliver high quality healthcare at an affordable cost to the broadest segment of patients in the communities it serves.
PHYHEALTH CEO, Robert Trinka, stated, "We are very excited about PHYHEALTH and its opportunities in today's rapidly evolving healthcare marketplace. The Tiger Team acquisition and restructuring gave PHYHEALTH the right corporate platform and better access to the capital that is critical to the development of our core PHYHEALTH Plans and for key acquisitions necessary to rapidly grow our business." He continued, "Our business model is designed to deliver value to physicians, patients, their communities, and especially to our shareholders. We strongly believe we can make an important contribution to solving the much publicized problems in the nation's healthcare system. We want to return to the brand of physician managed healthcare that all of us and our families can depend on to maintain our health and wellness and care for our disorders."
About Physicians Healthcare Management Group, Inc.
PHYHEALTH develops and operates fully integrated healthcare organizations in partnership with physicians. PHYHEALTH Plans preserve the physician-patient relationship and deliver high-quality affordable healthcare within its selected communities. PHYHEALTH offers a turnkey, prepaid health plan solution to physicians for their Medicare and other individual patients who prefer to choose their own doctor and who make their own healthcare insurance purchasing decisions. PHYHEALTH Plans are unique in integrating all aspects of the delivery and financing of care, including providing medical liability insurance protection through PHYSHIELD Insurance Exchange, PHYHEALTH's exclusive risk retention group. The PHYHEALTH model empowers physicians to proactively manage their patient's general health and medical care and enhances physician financial rewards by increasing practice revenues, reducing expenses and restoring the economic value (equity) of their medical practices.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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|Date:||Jul 13, 2006|
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