IRVINE, Calif., May 20 /PRNewswire-FirstCall/ -- Transax International Limited (“Transax”) (OTC Bulletin Board: TNSX; Frankfurt/Berlin: TX6) is pleased to advise that its wholly owned subsidiary in Brazil has successfully integrated the four largest medical laboratories in Brazil -- namely Fleury, Sergio Franco and laboratories under Diagnostics of America, Bronstein and Lamina -- allowing these institutions to undertake “real time” healthcare transactions.
Following integration of the laboratories to the Transax Network Processor plans are currently in place to integrate in excess of 100 work stations to the established network at these locations to undertake “real time” healthcare eligibility and authorization transactions on behalf of Bradesco Health Insurance and Golden Cross two of the largest health insurance companies in Brazil.
Transax expects to capture approximately 100,000 transactions per month following integration of the worksations over the next 30 days.
Transax currently has in place in excess of 2,500 installations collecting real time transactions on a daily basis having installed in excess of 1,500 solutions into medical provider locations in Brazil since January 2004.
About Transax International Limited: Transax is a premier international provider of information network solutions for healthcare providers and health insurance companies, enabling the “real-time” automation of routine patient eligibility verifications, authorization, claims processing and payment functions that are currently performed manually. The technology has been proven to significantly decrease health insurance claim expenditure and provides additional operational efficiencies for the health insurer. Transax “MedLink” solution has been specifically designed for the healthcare and health insurance industry to allow insurance companies, Health Maintenance Organizations, and other industry concerns to connect to healthcare providers and electronically undertake eligibility, authorization and processing of health claims in “real-time”. MedLink has been developed as a “Total Connectivity” solution where Transax is able to provide an insurer with the ability to cost effectively process all of the transactions generated in “real time” regardless of location or method of generation. Presently operational in Brazil, Transax currently undertakes approximately 200,000 transactions per month, has contracts in place for in excess of 2,500,000 transactions per month, and other potential contracts in various stages of negotiation.
For further information, please contact: Stephen Walters, President & CEO, or Nathalie Pilon, CFO, +1-949-623-8316, or fax, +1-949-623-8305, info@transax.com.
Web Site : http://www.transax.com/ SAFE HARBOR STATEMENT
“THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY’S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE “SAFE HARBOR” PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN.”
Transax International Limited
CONTACT: Stephen Walters, President & CEO, or Nathalie Pilon, CFO, bothof Transax International Limited, +1-949-623-8316, or fax, +1-949-623-8305,info@transax.com
Web site: http://www.transax.com/
