UPLAND, Calif., Feb. 16, 2005 (PRIMEZONE) -- Healthcare Business Services Groups, Inc. (OTCBB:HBSV), a provider of full-service medical billing services and solutions and operator of surgery centers, announced today that it has appointed Narinder Grewal, M.D. to the company's board of directors. Dr. Grewal and his practice have been clients of HBSGI for nearly nine years and successfully operated and managed a surgery center for the past four years.
Dr. Grewal is an anesthesiologist, pain management specialist, and has been a self-employed Medical Doctor for the last fifteen years. Dr. Grewal brings experience with surgical center development and management from a medical and administrative background. Dr. Grewal and his practice have been clients of the Company for 8 1/2 years.
Chandana Basu, CEO of Healthcare Business Services Group stated, "The surgery center management experience and knowledge Dr. Grewal brings to our team will be valuable assets to the company as we launch our surgery center initiatives. We welcome his addition and feel that his acceptance of the nomination, after being a client for nearly a decade, speaks volumes to the upside potential of our business model."
Dr Grewal stated, "I am pleased to join the board of directors of HBSGI. I believe the strong growth of the Company, powered by the guidance of Chandana Basu, will yield positive results for shareholders. I am pleased to be able to contribute to the execution of the company's vision as a member of the board of directors."
About Healthcare Business Services Groups, Inc.
Healthcare Business Services Groups, Inc. or HBSGI (OTCBB:HBSV) is a provider full-service medical billing services and solutions and operator of surgery centers. The company provides traditional, customized medical billing services and support to physicians, providers, and healthcare facilities across the nation. In addition to its core medical billing services, HBSGI offers a comprehensive, full-service medical billing software product, AutoMed, Inc., that is the only fully automated product on the market. HBSGI also plans to develop and operate surgical centers in the primary geographic markets it provides medical billing services to provide a full-service, low cost surgical center option to physicians and providers. HBSGI has completed architectural and engineering plans for its first surgical center, has retained a general contractor, and acquired the financing to begin development.
Forward Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.