GSIEF - GSI Securitization Executes a Revenue Generating Strategic Alliance With MediCredit, Inc.
Wednesday May 16, 7:13 am ET
PRINCETON, N.J.; May 16 /PRNewswire-FirstCall/ -- GSI Securitization Ltd. (Pink Sheets: GSIEF.pk - News) and MediCredit, Inc. are pleased to announce today that we have established a marketing, sales and funding strategic alliance whereby MediCredit will run separately, but will have certain common responsibilities, defined duties, and have a profit sharing arrangement. GSI will be responsible for the financing function. All protocols for collection will be jointly set-up to satisfy all accounting and reporting mechanisms to jointly develop risk factors prior to funding.
GSI Securitization Executes a Strategic Alliance with MediCredit, Inc. to finance commercial health insurance, worker's compensation, No-fault/PIP, Medicare, Champus and company and union sponsored benefit plans. This represents a new phase and expansion of GSI's business in the healthcare asset-backed receivable market for clinics, diagnostic testing facilities, laboratories, private and group physician practices, home healthcare agencies, substance abuse clinics, rehabilitation facilities and hospitals.
MediCredit, Inc. will continue to establish a purchase line for insurance receivables and GSI will fund these sales. Reports will provide incisive information for controlling and security of profit centers. GSI will work with revenue management experts from MediCredit and the GSI Group collectively for accounting and funding analysis.
GSI will work with MediCredit clients and new business development to facilitate the sale of current, non-current insurance receivables for cash at discounted rates that will cover cost of money, operations, reporting and profit. In addition, together we will work to explore a plan for patient financing.
The products available as "the Capital Choice" under GSI and MediCredit alliance will expand the profitability of GSI by added-value to the market.
FORWARD-LOOKING STATEMENTS: Statements released by GSI Securitization, Inc. that are not purely historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
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Source: GSI Securitization, Inc.; MediCredit, Inc.
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