SCOTTSDALE, AZ--(Marketwire -08/29/12)- Capital Group Holdings, Inc. (CGHC) announced today it has entered into an agreement to acquire privately-held Alliance Urgent Care in an all stock transaction. Capital Group Holdings and Alliance will be finalizing the requirements of the agreement within the next 30 days.
The Company plans to operate the urgent care centers as a wholly-owned subsidiary of Capital Group and will rename the urgent care centers to "OneHealth Urgent Care," to fit more closely with the branding of its telehealth subsidiary OneHealthPass™.
Erik J. Cooper, CEO of Capital Group Holdings commented, "Acquiring Alliance Urgent Care will enable the Company to provide remote physician consultations alongside traditional in-clinic medical services." Cooper continued, "We see urgent care as a stable, long-term growth strategy and telehealth providing the potential for rapid customer acquisition and recurring revenue."
Dr. Michael Blumhoff, CEO of Alliance, who will continue as the CEO of the Urgent Care group stated, "We are pleased to be a part of Capital Group Holdings and provide the brick and mortar operations of our clinics to the front-line accessibility of OneHealthPass™. We believe this business combination will help fuel growth for both subsidiaries."
Capital Group also announced that it has been working on advertising campaigns for both companies, and will be presenting its plans soon.
About Capital Group Holdings:
Capital Group Holdings, Inc. is an acquirer of fundamentally-sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is Health and Wellness organizations that have a strong market presence, brand awareness and talented and dedicated management teams with the potential to achieve exceptional performance over time. Capital Group Holdings lends its operational support, management approach and financial resources to these companies to achieve improvements in both bottom-line growth and positioning in the marketplace. www.capitalgroupholdings.com
About Alliance Urgent Care:
Alliance Urgent Care, LLC is a rapidly growing, privately owned, 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 nearly 100% patient satisfaction rating throughout 2011. 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, HealthNet, and many others. Alliance, though internally funded, has grown from 1 clinic in 2007 to 6 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.AllianceUrgentCare.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.
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