PR Newswire; 6/17/2004
Transax International Limited ("Transax") (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is well positioned to take advantage of the significant growth opportunity in the Latin American market in the next 24-36 months.
Stephen Walters, President and Chief Executive Officer of Transax commented, "If we implement our business plan successfully, we should be able to achieve high double digit sequential growth over the next 24 months. Our initial business in Brazil presents a tremendous opportunity for our Company. In Brazil, approximately 48 million people have private healthcare insurance. With our recent contracts, Transax has signed agreements to process over 2,500,000 transactions per month and will process over 200,000 transactions in June 2004."
Stephen Walters continued, "The introduction of the MedLink solution to the Brazilian market is going to be a model for our success. We plan to capitalize on this opportunity in Brazil to form other joint venture agreements with private health insurance companies and healthcare technology providers on a global basis."
Walters concluded, "We truly believe that our leading software solution coupled with a world class business partner such as BearingPoint, Inc. will give us a significant advantage over our competition in our target markets."
Walters made these comments on a recent conference call with New York-based Empire Relations Group Inc.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the "real-time" automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax "MedLink" solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in "real-time". MedLink has been developed as a "Total Connectivity" solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in "real time" regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 200,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
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