HOUSTON, TX--(Marketwire - August 25, 2009) - Bederra Corporation (PINKSHEETS: BEDA), a Houston, Texas based diversified medical services provider, recently published its six months results on www.pinksheets.com. For the six months ending June 30, 2009, the company had gross revenues of $1,293,780. While on an accrual basis the six-month financial statements show an operating loss of $405,925; the loss was due to slowness in the economy and the residual effects of Hurricane Ike, which disrupted many of the company’s referral sources. The start up costs of the recently launched medical clinic, Reliant Medical Group Clinic, also contributed to the loss. The company is now expected to be profitable on an accrual basis by the end of the third fiscal quarter.
The company has made significant advances over the past six months in spite of the slowdown in the economy. Operating revenues were slow for the first four months but improved significantly with the opening of Reliant Medical Clinic. The clinic has added a steady flow of patients that can utilize the existing diagnostic and imaging services that the company currently provides.
The company is finalizing plans to add additional clinics to be located in carefully selected areas of Houston in the near future. Other diagnostic services will be added to each clinic to provide more valuable patient care and increase ongoing revenue streams for the company.
Management has engaged a local management-consulting group to investigate ways to improve collections, improve cash management systems and reduce costs by implementing a proprietary billing and collection software system.
Also, management is adding additional medical professionals to its clinic and is preparing its staff to handle the management of additional clinics acquired or started in strategic areas.
As stated in several previous press releases, the company is currently in negotiations to acquire Neogenex Medical Technologies and is currently in the due diligence phase of the acquisition. Neogenex markets a laser device that is FDA approved for use in the treatment of Carpal Tunnel Syndrome and Arthritis pain treatment and is being evaluated for wound care. This acquisition will add a diversification to the company’s medical services that is consistent with its stated goal of creating, over the next few years, a diversified medical services company.
Management has also stated that it has engaged the necessary accounting professionals to file audited statements in the near future so that the company will have the ability to up list to the Bulletin Board or other exchanges. The preparations of the current financials reflect its commitment to full disclosure and all recent accounting has been prepared to facilitate full reporting obligations.
The company and its management believe the company is now on track to achieve the goals that it has set out in its business plan. Furthermore, management has maintained its positive outlook regarding the company’s financials despite the economic downturn which management believes has left many patients reluctant or unable to pay deductibles and insurance premiums. With the launch of the Reliant Medical Group Clinic and the addition of specialized equipment including a nuclear camera, management expects the company to show a profit overall for its full fiscal year ending in December.
Additionally, the company is in the process of changing transfer agents, which should result in the upgrading of the company’s current “Pink Sheets Limited Information” categorization to a “Pink Sheets Current Issuer” listing. Management anticipates the change to a “Current Issuer” listing to be completed before the end of September.
About Bederra Corp.
Bederra Corporation, through its wholly owned subsidiaries Lumar Imaging, Inc., Reliant Medical Group and Diagnos, Inc., provides multiple modality diagnostic medical imaging services to the greater Houston area and the world famous Texas Medical Center. The Company’s business strategy is to continue to expand its current operations and seek out additional acquisitions that will complement its core offerings.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products and services in development, including any planned acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements might not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
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