WELLINGTON, Fla., Feb. 14 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (http://www.QTUM.com), announced today that during it’s February 9, 2006 annual Board of Directors meeting, the Board unanimously approved the election of Mr. Michael Rosenbaum and Mr. Peter Nauert as Directors.
Noel J. Guillama, President and Chief Executive Officer of The Quantum Group, Inc., commented, “Our Company is thrilled that Mr. Rosenbaum and Mr. Nauert, two of the brightest entrepreneurial minds I have encountered, have demonstrated such interest in Quantum and have invested in the Company personally. We are very pleased that they have also agreed to serve on our Board of Directors.” Guillama continued, “Both gentlemen bring a unique perspective, extensive experience and real-world knowledge to Quantum and will play key roles in the Company’s continued progress.”
Michael Rosenbaum has extensive experience in law, mergers and acquisitions, merchant banking and finance. Mr. Rosenbaum has served as a Director for Protrak International since 1984, and continues in this role today. Protrak is the global leader and a major innovative force in the development and delivery of Customer Relationship Management software (CRM) and Sales Force Automation (SFA) to the investment management industry.
Mr. Rosenbaum served as a Director and Officer of Throttlebox Media, a company that specialized in the sales of downloadable multimedia entertainment and was also Executive Vice President and Director for Vector Group, which is traded on the New York Stock Exchange. The Vector Group has previously owned companies including Western Union, Mai Basic Four, Brighams and Skybox -- a trading card company of which Mr. Rosenbaum also served as the Vice Chairman. Ultimately, Skybox was sold to Marvel. Further, Mr. Rosenbaum was a member of the Board of Advisors of South Beach Beverage Company which was sold in 2002 to Pepsi. Mr. Rosenbaum has been active in Israeli Technology Partners for the last five years having also served as a Director from 2002 through 2004.
Peter Nauert has over thirty years experience as a founder, creator and leader in the insurance industry with an emphasis on mergers and acquisitions, as well as funding. He was the inventor of the industry’s first web-based agent sales system. Mr. Nauert is nationally recognized as an entrepreneur, having been selected as a finalist in the running for the Ernst & Young Entrepreneur of the Year Award in 2001. He has an extensive success record in implementing public and private campaign funding vehicles. Additionally, Mr. Nauert is the Founder and Chairman of Insurance Capital Management (ICM), a national Company which provides marketing, web-based technology and specialty products for insurance and financial services. ICM’s distribution subsidiaries comprise nearly 10,000 sales agents nationwide.
Prior to founding ICM, Mr. Nauert was Chairman and CEO of the Nasdaq- traded Ceres Group, Inc. from July 1998 to June 2002. In 1998, Mr. Nauert led an investor group that purchased Central Reserve Life Insurance Company (CRLC), a financially troubled health insurance company. He founded Ceres Group, Inc., as the new holding company of CRLC. Through management changes and a series of acquisitions, Mr. Nauert achieved first-year profit turnaround and continuing yearly profits. As Chairman, Mr. Nauert increased Ceres’ gross revenue to $907 million.
Prior to Ceres, Mr. Nauert founded the NYSE-traded Pioneer Financial Services, Inc., arranged its IPO in 1986 and established numerous national subsidiaries in healthcare, managed care, health and life insurance and marketing. As Chairman and CEO, Mr. Nauert grew PFS during its 10 years as a public company to gross revenues of $1 billion and assets of nearly $2 billion. In 1997, Mr. Nauert negotiated the sale of PFS to Conseco, Inc. for $480 million.
The Quantum Group further announced that Mr. Rosenbaum has been elected to serve on the Audit Committee and Mr. Nauert has been elected to the Compensation and Options Committee.
For additional information on the Company, Michael Rosenbaum or Peter Nauert, please visit The Quantum Group website at http://www.QTUM.com. The full biographies for both gentlemen are listed on the Board of Directors page.
The Quantum Group, Inc. (QTUM) (http://www.QTUM.com) based in Wellington, Florida is part of a strategic group of healthcare companies, with Quantum positioned as the parent. In conjunction with its subsidiary companies which include Renaissance Health Systems (RHS) and Quantum Medical Technologies (QMT), Quantum strategically addresses many of the service, management and technology needs of managed care organizations, physicians, healthcare facilities and physician associations that bring increased and highly valued efficiencies to the $1.9 trillion US healthcare system. The opportunity is to leverage and cross-market the services and products of each respective organization with one another to capitalize upon the potential of this impressive target market. The Quantum Group -- “healthcare solutions for a new generation."(SM)
Certain statements contained in this news release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to uncertainties and risks in part detailed in the respective Company’s Securities and Exchange Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual results to materially differ from projections. Although the company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the company’s ability to execute properly its new business model, to raise additional capital to implement new business models, the ability to attract and retain personnel, and the inherent risk associated with a diversified business to achieve positive cash flow. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this press release will, in fact, occur.
Media Contact: Danielle Amodio Vice President Corporate Communications The Quantum Group, Inc. 561.798.9800
The Quantum Group, Inc.
CONTACT: Danielle Amodio, Vice President Corporate Communications of TheQuantum Group, Inc., +1-561-798-9800
Web site: http://www.QTUM.com/