On a pro forma basis OneHealth Urgent Care reported that operating results improved over the 6 month period by $49,000 from a net loss of $313,000 in the six month period ended December 31, 2011 vs. a net loss of $264,000 in the current six month period. This represents a 15.7% improvement.
Erik Cooper, CEO of Capital Group stated, "We are very pleased with the progress we are making with the integration of the urgent care group."
Dr. Mike Blumhoff, CEO of OneHealth Urgent Care, Inc. which operates the urgent care group under the Alliance name said, "Our results this quarter partially benefited from an early flu season but our 6 month trend with a 31% increase in revenue is very encouraging. I am excited by the start of our television advertising which I believe should further enhance our growth."
The Company expects to secure and utilize additional outlets for its advertising to further build revenue for the urgent care group.
About Capital Group Holdings Inc.:
Capital Group Holdings, Inc. (OTCBB: CGHC) ("Capital Group") is an acquirer and operator of innovative health and wellness organizations that have strong market presence, brand awareness, and talented management teams working towards achieving exceptional performance over time. The Company, through its subsidiaries, currently operates 7 urgent care clinics ("OneHealth Urgent Care," "OneHealth UC") in metropolitan Phoenix, Arizona and will soon launch its telemedicine services through its subsidiary OneHealthPass ("OHP"). OneHealthPass is a direct-to-consumer medical membership program that provides members with 24/7/365 access to board-certified physicians via telephone or internet. Capital Group is positioning these companies to provide immediate access to medical services to the public in an effort to avoid any delay in access to physicians and to provide a significantly lower cost for high quality, patient-centric healthcare.
Our customers can reach a physician any time, day or night, can access basic medical services, and have the ability to receive sound medical advice and treatment for the most common minor medical issues. Our network of independent board-certified doctors may, at their discretion, provide prescriptions for treatment that can be retrieved immediately at the member's local pharmacy. Should a member need to be examined in person, they can be examined at one of our local urgent care clinics, or be referred elsewhere such as the ER, a primary care doctor, or even a specialist. Capital Group's strategy of partnering OHP with OneHealth Urgent Care is unique. The linkage will allow us to direct our new OHP members to our urgent care clinics instead of competitor clinics when they get sick, thus significantly extending our membership services, promoting customer loyalty, and significantly reducing the inherent medical liability associated with traditional telemedicine services. www.capitalgroupholdings.com
About OneHealth Urgent Care, Inc.:
OneHealth Urgent Care, Inc., through its acquisition of Alliance Urgent Care, LLC, is a rapidly growing, progressive urgent care organization in Arizona. Using state of the art technology, a virtually paperless environment and electronic health records (CCHIT certified) coupled with caring Doctors, board certified providers and staff, Alliance is able to consistently beat the national average for patient wait times. Alliance maintained a 99% patient satisfaction rating throughout 2012. For patient convenience we provide on-site lab testing and X-ray imaging. Alliance accepts credit cards (Visa, MasterCard and Discover) as well as all major insurance providers including; Aetna, Blue Cross/Blue Shield, Cigna, Medicare and Medicaid, United Healthcare, TriCare, Banner Health Plan, Arizona Foundation, Health Net, and many others. Alliance, though internally funded, has grown from 1 clinic in 2007 to 7 presently and plans to open additional clinics in the next 12 months, all conveniently located in the Phoenix, Arizona Metropolitan Area. Alliance plans to bring its unique brand of speedy, caring, patient friendly clinics to other states in the near future. www.OneHealthUrgentCare.com
OneHealthPass (OHP) is a wholly owned subsidiary of Capital Group Holdings, Inc. OneHealthPass is bringing to market a suite of patient-centric telehealth services. OHP contracts with physician networks to provide 24/7 telephone consultations to board-certified physicians. OHP is designed to become an industry standard telehealth platform for the management and administration of patient-centric telemedicine programs. The OHP platform is developed as a central hub so members can access OHP and 3rd party medical services and products that can be managed from virtually anywhere utilizing the telephone, wireless networks and the internet. OHP is currently researching additional strategic marketing agreements and acquisition candidates. www.OneHealthPass.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding Capital Group Holdings, Inc.'s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to Capital Group Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
Investor/Media Contact (480) 214-3488
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