Saturday, September 23, 2006
MedLink International Enters into Letter of Intent to Acquire CNI Medical Coding & Recovery
Ray Vuono, CEO of MedLink International stated "The economies of scale in this venture are apparent to us. We believe that we will now be able to refer our physicians internally for their billing and recovery needs. In addition, we will also have access to provide CNI clients with the MedLink EHR and its suite of services. We believe this presents MedLink International the opportunity to realize revenues on the practice management end as well as the billing side and enables us to offer solutions to the medical community for every aspect of their practice."
The principals of CNI have nearly twenty years of experience in the medical billing and recovery arena. CNI specializes in re-gaining the revenue and subsequent profits its clients practices are entitled to, utilizing electronic claims and personalized reimbursement strategies. With its experience in assigning proper coding to diagnoses and procedures, CNI receives the financial reimbursement correctly from insurance companies and government agencies that approximately 25% of medical practices across America are only receiving 70% on due to under coding, missed charges, and un-reimbursed claims.
MedLink's acquisition of CNI is subject to MedLink's continued due diligence and there can be no assurance that its acquisition of CNI will be completed, or if completed, whether it will be completed on a timely basis.
About MedLink International, Inc.:
MedLink International is a holding company for its suite of subsidiaries that support the MedLink VPN (collectively "MedLink"). Utilized in conjunction with the security platforms of the MedLink VPN which allows subscribing doctors and others to securely communicate and to remotely access and retrieve patient records, lab results, X-Rays, CAT Scans and other pertinent patient information. The Company's flagship product the MedLink EHR provides patient-centric data. The primary care doctor utilizes MedLink EHR to gather and update the data on his or her patients. The MedLink EHR is used as a practice management system, it provides for the consolidation of data among the disparate networks, whereby it goes out like a powerful search engine within a doctor's own private network and collects and organizes the data into an application that provides for all of a doctor's records to be stored on their local database while keeping connected to all the networks their practice is affiliated with. Additional information about MedLink International and the MedLink VPN may be found at http://www.medlinkus.com.
Note on Forward-Looking Statements:
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. MedLink International, Inc. undertakes no obligation to update publicly any forward-looking statements.
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