MIAMI, March 26 /PRNewswire-FirstCall/ -- Physicians Healthcare Management Group, Inc. (Phyhealth) (Pink Sheets: PHYH), a developer of health maintenance organizations (HMOs) in partnership with physicians and manager of Physhield Insurance Exchange, a licensed medical malpractice insurer, announced today that it has completed a strategic investment in AccessKey IP, Inc., (Pink Sheets: AKYI). Phyhealth will provide funding for management of AccessKey's inventory, including the launch of TeknoVault(TM), a patented encryption device for personal computers. The TeknoVault(TM) has significant implications for the Healthcare industry.
TeknoVault(TM) enables the encryption of data on a personal computer's hard drive and provides anti-theft protection for the PC, itself. With a standard USB connection, a PC user can employ the TeknoVault(TM) device to completely disable the PC preventing the disclosure of selected data on the computer. In addition, two TeknoVault(TM) users can exchange encrypted emails.
Mr. Bruce Palmer, President of AccessKey IP, stated, "The funding from Phyhealth at this point in our development is crucial to meeting the market demand for our products, especially TeknoVault(TM), which is a unique and totally transparent security device. We expect rising demand as the federal government continues it's initiatives to implement electronic medical records throughout the healthcare system. I look forward to working with Robert and Phyhealth as it opens new markets for AccessKey IP into the healthcare and insurance arenas."
Mr. Robert Trinka, Chairman and CEO of Phyhealth, stated, "The investment in AccessKey coincides with our strategy, and that of the U.S. government, to lower the cost of healthcare. An electronically interconnected healthcare system increases efficiency, thereby saving money. But an effective method of protecting confidential patient data that is stored on computers is also of paramount importance on many levels, not the least of which is the financial liability that can result when an entity experiences a security breach. We are very excited to have the opportunity to work with Bruce and his organization and believe that our new affiliation will increase shareholder value while supporting technologies to improve the quality and lower the cost of health care in the years to come."
About Physicians Healthcare Management Group, Inc.
Physicians Healthcare Management Group, Inc. (Phyhealth) is a developer of community-based health maintenance organizations (HMOs) that are owned and operated in partnership with the participating physicians. Phyhealth Plans are designed to deliver high-quality affordable healthcare by enabling physicians to assume end-to-end management of healthcare for their patients. The Phyhealth model empowers physicians to provide preventive healthcare and proactively manage their patient's general health by aligning incentives amongst the HMO, physician and the patient. Phyhealth intends to offer additional value-added products and services in cooperation with physicians, including medical malpractice insurance, local care facilities and wellness programs, as well as information technologies such as secure electronic medical records.
About AccessKey IP, Inc.
AccessKey IP, Inc. is a developer of cutting-edge technologies and best-of-breed products tailored to address the market opportunities created by the explosive growth of digital communications, entertainment-related services and specific consumer electronics platforms. AccessKey IP's AccessKey(TM) products, powered by the Company's patented technology, provide complete access to the coveted "Triple Play" Set Top Box (voice, video and data) and "Quadruple Play" Set Top Box (voice, video, data and wireless) offerings of cable, telecom, satellite and broadband service providers. The Company's AccessKey Home(TM) and portable flash drive-sized AccessKey PC(TM) allow subscribers to "channel surf" streaming "HD Quality" television content (IPtv), navigate the internet, watch Video on Demand (VOD) offerings, play video or internet-based games, listen to music, make phone calls (VoIP), video conference, run a full array of computing applications, securely store data and more, all from a single device and service provider network. Its wholly owned subsidiary TeknoCreations was founded to participate in the explosive growth of Consumer Electronics and Business security needs. TeknoCreations designs high quality products with attractive pricing to enhance the consumer's favorite electronics products and the expanding security needs of corporate America.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Physicians Healthcare Management Group, Inc, and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results. Additional information is available at: http://www.phyhealth.com.
|SOURCE Physicians Healthcare Management Group, Inc.|
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