PriMed Technologies to Increase Revenues With Extension of Agreement With Madeline, LLC & Is Proceeding With Nationwide Expansion
Apr 24, 2001, 01:00 ET from AmeriNet Group.com, Inc.
BOCA RATON, Fla., April 24 /PRNewswire Interactive News Release/ --
AmeriNet Group.com, Inc. (OTC Bulletin Board: ABUY) ("AmeriNet") noted that
PriMed Technologies, Inc., a Delaware corporation ("PriMed") which is a party
to a consulting agreement pursuant to which AmeriNet stockholders will receive
10% of PriMed's common stock, has announced that it has entered into a
material contract. The PriMed release is provided below in compliance with
AmeriNet's obligations to prevent selective disclosure pursuant to recently
promulgated Commission regulation FD.
PriMed Technologies, Inc. has announced an extension of its agreement with
Madeline, LLC, a fund under management by Cerberus Capital Management, a
multi-billion dollar New York hedge fund. The contract references over
$16,000,000 of accounts that are to be managed.
PriMed has been providing Madeline, LLC with administrative and accounts
receivable recovery services for the past several years in connection with
their fund's financing of a physicians practice management company that
previously owned seven medical practices in Miami-Dade and Broward County,
Florida.
"We expect this agreement to result in a 25% increase in revenue from the
second to the third quarter," said Evan Brovenick, chief executive officer of
PriMed Technologies.
Seth P. Plattus, managing director, Cerberus Capital Management, added,
"We look forward to continuing this mutually beneficial agreement with
PriMed."
PriMed Technologies, Inc. provides proven management and financial
expertise along with the latest on-line technologies to its growing client
base of physicians, hospitals and ancillary service organizations in South
Florida. Nationwide expansion has already begun with a project now underway
in Washington, D.C.
AmeriNet is a publicly traded holding company, which files periodic
reports with the Securities and Exchange Commission.
For additional information about Primed Technologies, Inc., contact Andrew
M. Rose at Marketing Ink, Inc.: (954) 428-2678, andy@marketingink.net; or for
AmeriNet Group, contact Charles J. Scimeca, Tel: 561-998-3435, Fax
561-998-4635, E-mail info@amerinetgroup.com, Website www.amerinetgroup.com .
This press release contains certain "forward-looking statements" and the
information (as defined in the Private Securities Litigation Reform Act of
1995) concerning AmeriNet and PriMed that are based on the beliefs of
AmeriNet's and PriMed's management, as well as assumptions made by and
information currently available to Primed and AmeriNet. Such statements
reflect the current views of PriMed and AmeriNet with respect to future events
and are subject to certain assumptions, including those described in this
release. Should one or more of the underlying assumptions prove incorrect,
actual results may vary materially from those described herein as anticipated,
believed or expected. PriMed and AmeriNet does not intend to update these
forward-looking statements prior to announcement of quarterly or annual
results.
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SOURCE AmeriNet Group.com, Inc.
BOCA RATON, Fla., April 24 /PRNewswire Interactive News Release/ --
AmeriNet Group.com, Inc. (OTC Bulletin Board: ABUY) ("AmeriNet") noted that
PriMed Technologies, Inc., a Delaware corporation ("PriMed") which is a party
to a consulting agreement pursuant to which AmeriNet stockholders will receive
10% of PriMed's common stock, has announced that it has entered into a
material contract. The PriMed release is provided below in compliance with
AmeriNet's obligations to prevent selective disclosure pursuant to recently
promulgated Commission regulation FD.
PriMed Technologies, Inc. has announced an extension of its agreement with
Madeline, LLC, a fund under management by Cerberus Capital Management, a
multi-billion dollar New York hedge fund. The contract references over
$16,000,000 of accounts that are to be managed.
PriMed has been providing Madeline, LLC with administrative and accounts
receivable recovery services for the past several years in connection with
their fund's financing of a physicians practice management company that
previously owned seven medical practices in Miami-Dade and Broward County,
Florida.
"We expect this agreement to result in a 25% increase in revenue from the
second to the third quarter," said Evan Brovenick, chief executive officer of
PriMed Technologies.
Seth P. Plattus, managing director, Cerberus Capital Management, added,
"We look forward to continuing this mutually beneficial agreement with
PriMed."
PriMed Technologies, Inc. provides proven management and financial
expertise along with the latest on-line technologies to its growing client
base of physicians, hospitals and ancillary service organizations in South
Florida. Nationwide expansion has already begun with a project now underway
in Washington, D.C.
AmeriNet is a publicly traded holding company, which files periodic
reports with the Securities and Exchange Commission.
For additional information about Primed Technologies, Inc., contact Andrew
M. Rose at Marketing Ink, Inc.: (954) 428-2678, andy@marketingink.net; or for
AmeriNet Group, contact Charles J. Scimeca, Tel: 561-998-3435, Fax
561-998-4635, E-mail info@amerinetgroup.com, Website www.amerinetgroup.com .
This press release contains certain "forward-looking statements" and the
information (as defined in the Private Securities Litigation Reform Act of
1995) concerning AmeriNet and PriMed that are based on the beliefs of
AmeriNet's and PriMed's management, as well as assumptions made by and
information currently available to Primed and AmeriNet. Such statements
reflect the current views of PriMed and AmeriNet with respect to future events
and are subject to certain assumptions, including those described in this
release. Should one or more of the underlying assumptions prove incorrect,
actual results may vary materially from those described herein as anticipated,
believed or expected. PriMed and AmeriNet does not intend to update these
forward-looking statements prior to announcement of quarterly or annual
results.
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SOURCE AmeriNet Group.com, Inc.
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