SCOTTSDALE, Ariz., Sept. 26 /PRNewswire-FirstCall/ -- MedCom USA, Inc. , a leading provider of HIPAA compliant dental, healthcare and financial transaction solutions for the healthcare and dental industry, has signed a co-marketing agreement with Abanco International, LLC that will allow Abanco to sell the MedCom System through its direct and independent sales channels. In addition, MedCom USA will write an interface for its Web payment portal through Abanco's state-of-the-art, secure IP payment gateway. This will enable Abanco's Healthcare merchants to process all forms of payments easily and efficiently.
MedCom USA has been expanding its sales coverage through the use of proprietary sales people as well as targeted Independent Sales Organizations (ISOs). Abanco, a leading provider of payment processing solutions, has explored ways to enter the Healthcare market. The combination of the MedCom USA System with Abanco's payment processing experience, will allow both companies to increase sales and distribution significantly and cost- effectively.
According to Bruce Weitzberg, COO MedCom USA, Inc., "We have carefully considered the sales strength of Abanco and we are confident that their knowledge and awareness of the needs of the Healthcare market will be of great benefit to MedCom as they continue to expand their market share."
Tracy Metzger, President and CTO, Abanco International LLC, added, "With this agreement, we are positioning ourselves to expand into all areas within the healthcare market. We are confident that the synergy between the MedCom USA System and the Abanco payment gateway will provide a superior solution for the healthcare arena."
The sales program will be introduced in late September.
About MedCom USA, Inc.
MedCom USA, Inc. (EMED) provides innovative solutions for electronically processing HIPAA compliant transactions within the healthcare industry. MedCom USA provides a point of service terminal based transaction package and compatible Web Portal for medical and dental professionals as well as healthcare institutions. MedCom USA offers its clientele the ability to facilitate the following transactions: Real-time Patient Eligibility, Real- time Referral Certification, Real-time Claim Status, Real-time Pre authorization, 100% Paperless Claims Processing and Submission to all United States based health plans and insurance carriers, Patient Easy Pay, Merchant Processing, Electronic Check Guarantee Service, and Accounts Receivable Financing. www.medcomusa.com.
About Abanco International, LLC
Abanco International, LLC is a leading provider of payment processing solutions that develops and markets a full suite of services to the automotive, hospitality, insurance, retail and transportation industries. Its innovative hardware and software platforms are a product of Abanco's commitment to developing solutions that enhance customer relationships through management of all cardholder interactions including credit (with optional signature capture), debit, non-bank cards, electronic check services, and gift and loyalty programs. Abanco is headquartered in Rosemont, IL and has representative offices throughout the USA. Company and product information are available at www.abanco.com.
About HIPAA
Health Insurance Portability and Accountability Act of 1996 that requires health providers and health plans to adopt standards for electronic administrative and financial transactions.
Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although MedCom USA, Inc. management believes the expectations reflected in such forward-looking statements are based on reasonable assumptions; it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include industry, competitive and technological changes; risks associated with international operations and foreign currency fluctuations; the composition, timing and size of orders from and shipments to major customers; inventory obsolescence; market acceptance of new products and other risks detailed from time to time in MedCom USA, Inc.'s SEC reports, including the company's most recent 10-K and subsequent 10Q-s.
MedCom USA, Inc.CONTACT: Media, Courtney Walker of Edelman, +1-212-704-8102,Courtney.walker@edelman.com, for MedCom USA, Inc.; or Anne Smith of ABANCOInternational LLC, +1-847-227-2376, asmith@abanco.com; or Investors, KentBarghols, +1-515-276-1180, BARGHOLSB@MSN.COM, for MedCom USA, Inc.
