Omni Medical Holdings Acquires DataFuzion in Stock Transaction
RAPID CITY , S.D. – March 3, 2005 – Omni Medical Holdings, Inc. (OTCBB: ONMH ) has acquired majority interest in DataFuzion, Inc. in a share exchange transaction and will seek to acquire all of DataFuzion’s outstanding shares over the next sixty days. Littleton , Colorado based DataFuzion will continue operation under its current name and structure as a wholly owned subsidiary of Omni Medical Holdings.
The combined companies are projected to have revenue in excess of $3.5 million and generate positive cash flow for calendar year 2005. Additionally, both companies have numerous acquisition targets that would be accretive to earnings if acquired.
“DataFuzion is a top of the line company and we are very excited to bring them on as an important part of our business strategy. They provide critical technology and management tools that will make Omni a national leader in providing medical services,” said CEO Arthur Lyons. DataFuzion CEO Doug Davis said, “DataFuzion is pleased to join the team created by Omni Medical Holdings. This combination of management, products, and services will allow us to offer a full array of ASP hosted medical management systems, reporting tools, and claims adjudication to all types of healthcare organizations.”
DataFuzion, Inc. is a privately held medical products and services company providing turn-key back office solutions to medical practitioners, facilities, and other healthcare enterprise customers. Their practice management, EMR and decision support reporting tools are designed to maximize practice performance by identifying revenue enhancement and cost saving opportunities. These services also eliminate the upfront costs and ongoing expense of ownership, upgrading, staffing and maintaining internal operations and systems. Additional information can be found at www.datafuzion.com.
ABOUT OMNI MEDICAL HOLDINGS, INC.
Omni Medical Holdings, Inc. provides medical billing and transcription services to medical practitioners throughout the United States through its wholly owned subsidiary, Omni Medical Services, Inc. Omni is aggressively seeking out new acquisitions that are compatible with its desired intent to expand and become a national leader.
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company’s current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
For further information, please contact:
WestPark Capital, Inc. (310) 843-9300
1900 Avenue of the Stars, Suite 310
Los Angeles, CA 90067