August/September 2003

Industry Watch

Preferred Therapy Inks Agreement With BCE Emergis
Preferred Therapy Providers Inc, Phoenix, Ariz, has signed an agreement with BCE Emergis. Through the agreement, providers within the Preferred network will have access to all BCE affiliate networks, including Admar, United Payors and United Providers, ProAmerica, Benefit Panel Services, and ForMost, representing 12 million people. Preferred will serve as a liaison for the negotiation, execution, and implementation of contractual relationships between its group of private practice rehabilitation clinics and BCE. Currently, the Preferred network consists of over 800 locations in 35 states, representing more than 2,200 physical, occupational, speech, and respiratory therapists.

iBX Group Subsidiary Adds Facilities
iBX Group Inc, Deerfield Beach, Fla, announced that its Florida HealthSource of Tampa subsidiary has agreed on terms to restructure a $500,000 line of credit with Beacon Business Finance LLC, enabling the acquisition of St Petersburg-based First Rehab Plus Inc, a practice consisting of seven Medicare-certified physical therapy and rehabilitation facilities on the west coast of Florida. According to iBX, the acquisition of First Rehab Plus is expected to generate $1.5 million in new revenue for the division during the next 12 months, increasing Florida HealthSource's revenue guidance to $2.5 million for the next year. Florida HealthSource's multidisciplinary clinics offer a variety of physical therapy, occupational medicine, rehabilitation, pain management, chiropractic care, and wellness services. The centers are designed to showcase iBX's technology services, such as TruCap, a Web-enabled functional capacity evaluation that documents the assessment of an individual's ability to begin a physically demanding job or to return to a job after injury or illness.

Zevex Reports Financial Results
Zevex International Inc, Salt Lake City, a manufacturer of proprietary medical device technologies, has reported its financial results for the second quarter ended June 30. Revenue at the company increased 18% to $6,829,793, up from $5,804,441 for the second quarter of 2002. In addition, the company recorded a net loss of $28,107 for the second quarter, compared to net income of $4,784 for the second quarter of 2002. That decrease was primarily a reflection of an increase of $296,717 in research and development expenditures during the second quarter, as the company neared completion of development activities related to two new proprietary products. The company also notes that it has reduced debt by more than $700,000 due to positive cash flows from operations, and will work toward improving margins. In addition, it expects the quarterly investment in research and development to continue through the third quarter, and then decline significantly in the fourth quarter of 2003.

Wheelchair carrier inc announces move
Wheelchair Carrier Inc, Toledo, Ohio, a manufacturer of scooter and wheelchair lifts and carriers, has moved to a new 100,000-square-foot manufacturing facility. The move consolidates the company's machining, fabricating, and powder-coating capabilities under one roof, giving the company more control over the end product, as well as allowing for a better response to distributors and end users. The new address is 203 Matzinger Rd, Toledo, OH 43612.

PEOPLE IN THE NEWS

Mark Schmitt

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