Aug 2, 2005 5:00:00 AM
FLOWER MOUND, Texas, Aug. 2 /PRNewswire-FirstCall/ -- American HealthChoice, Inc. (OTC Bulletin Board: AMHI) announced today that it has acquired Mid-Valley Wellness Center in Weslaco, Texas.
"The patient billings for this clinic in calendar 2004 were approximately $800,000 and since the clinic joined our affiliated program in late 2004, it has been one of the best performers," said Dr. J. W. Stucki, American HealthChoice Chairman and CEO. "The operating income as a company owned clinic should significantly exceed the income generated under the affiliated program business model."
"We were able to acquire the clinic with funds from operations and believe it will enhance our future revenue from the Rio Grande Valley area of Texas where we already have a strong presence with clinics in San Benito and McAllen," Dr. Stucki said.
The Company intends to continue adding affiliated clinics at a rate of one per month and also look at possible acquisitions of affiliated clinics if patient billings meet the financial model requirements for an owned clinic.
About American HealthChoice:
American HealthChoice is a medical services company comprised of a parent company and 35 owned and affiliated medical clinics in Texas and Tennessee.
Safe Harbor Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward- looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2004 filed with the Securities and Exchange Commission on January 13, 2005.
CONTACT:
Dr. J. W. Stucki, CEO
American HealthChoice, Inc.
972/538-0122 x203
Paul Knopick
E & E Communications
949/707-5365
pknopick@eandecommunications.com
SOURCE American HealthChoice, Inc.
THE THRILL OF VICTORY ;-) & THE AGONY OF DEFEAT ;-(
