Phyhealth Issues 2008 Audited Financial Statements and Provides Busin...(067171 was held in cash and cash held in...),Health

Date:6/23/2009

067,171 was held in cash and cash held in escrow for investment. This compares with $57,713 in total assets and $32,653 in cash at the end of the 2007 fiscal year. The Company had total liabilities of $110,785 as of December 31, 2008 compared to $1,486,916 at December 31, 2007.

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.

Forward-Looking Statements

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
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SOURCE Physicians Healthcare Management Group, Inc. Copyright©2009 PR Newswire. All rights reserved

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