MIAMI, Sept. 28 /PRNewswire-FirstCall/ -- Transax International Limited , a network solutions provider for the healthcare sector, is pleased to announce that the Company has opened a new regional office in Sao Paulo, Brazil for expansion of its business into the South American market.
Mr. Eduardo Faci, a business executive with considerable experience in the healthcare technology sectors, has been appointed South American Regional Business Manager for the Company. Mr. Faci is a former business executive for Proceda Technology & Information and Business Manager for Salutia SA -- both companies based in Brazil and focused on the healthcare information technology sector.
Transax International is currently in discussions with a number of parties and potential strategic partners from countries in South America regarding strategic expansion of its business and expects to announce preliminary agreements in the forthcoming quarter.
In conjunction with the planned expansion, Transax recently hired a South American-based public relations company to feature the company and its products to the South American media.
Transax CEO Stephen Walters said, "TDS Medlink, our Brazil subsidiary, is the pioneer of the concept of real-time auto adjudication of medical claims and is the largest company of its kind in South America in terms of transaction volume. Based on the success of the solution in this emerging marketplace, and the increasing number of inquiries from the healthcare sector in other South American countries, the opening of our new regional office is a natural extension of our business plan."
About Transax International Limited
Transax International Ltd. provides network solutions to healthcare providers and health insurance companies. Utilizing its proprietary technology, Transax provides a service similar to a credit card processing for the health insurance industry. A Transax transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files all instantaneously in "real time" -- regardless of method of claim generation.
Transax's solutions have been proven to significantly decrease health insurance claim expenditure. Based in Miami, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 34 staff. The Company has contracts in place with major health insurers for up to 2,500,000 transactions per month and currently undertakes approximately 600,000 transactions per month. Transax receives about US50 cents per transaction.
Web Site: http://www.transax.com or http://www.otcfn.com/tnsx Email: info@transax.com
Investor Relations Inquiries OTC Financial Network 300 Chestnut St, Suite 200 Needham, MA 02492 USA Tel: 561-837-8057 Jamie Dryer Email: jamie@otcfn.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 LimitedCONTACT: Investor Relations, Jamie Dryer, OTC Financial Network,+1-561-837-8057, or jamie@otcfn.com, for Transax