TULSA, Okla., April 18, 2016 (GLOBE NEWSWIRE) -- RJD Green (OTCPK:RJDG) CEO, Ron Brewer, announced today completion of the acquisition of IOSOFT Inc., the first healthcare services acquisition of RJD Green, which launches the Healthcare Services Division.
IOSOFT was formed in 1998 by current principal, Vincent Valentine, to provide proprietary software for medical billing, Healthcare claims adjudication, automotive warranty payments, and electronic payments between healthcare Payers and Providers, and several other platform developments. Since formation, IOSOFT has been a third-party developer of software and provides IT support for the platforms developed. Most of the Company’s efforts have been healthcare oriented in paperless claim filing and provider payment services.
Southbridge Advisory Group has assisted IOSOFT in procuring the resources needed to successfully launch a complete North American marketing effort and enhance customer support operations, which will allow IOSOFT to create rapid growth in direct sales of their proprietary software, and to procure product development and support contracts with major industry corporations. Another revenue stream with major revenue potential for IOSOFT is the licensing of its software to large companies that utilize the technology to perform in-house servicing of clients. IOSOFT has three new software developments that can be introduced to market in year-one of acquisition.
Initial efforts of IOSOFT are in healthcare payment systems that provide unique payment technologies and services or software that can be integrated with legacy or existing systems of healthcare payers, such as, Blue Cross, Aetna, CIGNA and others. IOSOFT provides targeted product offerings for healthcare providers, provider networks, physicians and hospitals; and clearinghouse companies such as Relay Health, a McKesson division, and SSI – ClaimsNet. The IOSOFT team has years of experience and relationships within the more than one million providers in the healthcare market. David Gillman has been hired as the Executive Vice President and will be responsible for introducing the new services of IOSOFT, and overseeing the significant growth program. Mr. Gillman brings over 30 years of relationships with major healthcare services providers, and virtual payment expertise.
Mr. Brewer states; “IOSOFT’s existing three-year mean annual EBITDA is $182,297. The enlarged sales opportunity is projected to create a mean three-year revenue over $50,000,000 with 70% EBITDA. The national healthcare services market for the IOSOFT platforms and services is over two trillion dollars annually.
RJD Green is in discussions now with varied funding resources to create the best financing structure for the IOSOFT working capital requirements. Further information will be posted on our website”.
Forward-looking Statement:
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events of future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluation such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
For additional information contact, Ron Brewer COO at ronb@rjdgreen.com, or at (918) 551-7883
