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PainCare Reports on Key Corporate Developments
Date:10/3/2007

ician 10 of the 20 practices that comprised our former national network. The collective impact of this restructuring of our network of affiliated practices should yield PainCare a much stronger operating platform in 2008 and beyond. Although we may yet divest two more practices, which will be determined prior to year end, we plan to distinguish all remaining practices as nationally recognized Centers of Excellence for the delivery of state-of- the-art pain care and treatment.

"We have also been working to support those business interests that, on a moving forward basis, will serve as true driving forces behind PainCare's revitalization efforts.

"These include Caperian, Inc., a wholly-owned subsidiary of PainCare, whose mission is to create and drive value through development of commercial medical real estate projects on a national basis, including surgery centers, medical buildings and specialty hospitals and clinics.

"Integrated Pain Solutions (IPS), another wholly-owned subsidiary, has been gaining considerable traction in its effort to emerge as the nation's first managed services organization solely dedicated to improving care and reducing costs associated with the treatment of pain. Since first launching operations in early 2007, IPS has made progress in ramping up its infrastructure and beginning the transformation from a development stage to a revenue generating company. To date, IPS has established provider networks in Colorado, Florida, Illinois, Michigan, New Jersey and Tennessee (with plans to expand into Alabama, California, Georgia, New York, Ohio, Pennsylvania and Texas over the next six to nine months), and has begun implementation of its contract with Coalition America, the nation's leader in medical claim savings.

"In addition to directing growth in our Practice Management Group, Caperian and IPS, PainCare is also exploring opportunities to leverage our national reputation and medical marketing expertise to promote the creati
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SOURCE PainCare Holdings, Inc.
Copyright©2007 PR Newswire.
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