PRESS RELEASE - APRIL 16, 2013
Capital Group Holdings Inc. Announces Urgent Care Expansion Plans
SCOTTSDALE, AZ--(Marketwired - Apr 16, 2013) - Capital Group Holdings, Inc. (OTCBB: CGHC) (OTCQB: CGHC) announced today the Company's Board of Directors has determined that material expansion opportunities exist to increase the number of urgent care clinics of OneHealth Urgent Care (OHUC), a wholly owned subsidiary of CGHC.
Currently, OHUC operates seven (7) urgent care clinics in the metropolitan Phoenix (AZ) region. The Company intends to expand its OneHealth footprint initially within Arizona and subsequently expand to neighboring states. Potential acquisition candidates will be evaluated on a number of criteria as well as how they measure to OHUC's award-winning clinical quality of care and customer service, including 99%+ customer satisfaction ratings and average wait times of less than 20 minutes.
Erik J. Cooper, CEO of Capital Group Holdings, commented, "We believe that urgent care is collaborative to primary care and emergency departments. At OHUC, we treat patients that require acute care and can't wait for an appointment to see their primary care physician or their condition does not warrant an expensive ER visit that can be managed in an urgent care setting. Urgent care centers are focused on meeting patient needs now, not providing longitudinal care for chronic conditions. This allows for us to create strategic partnerships with other medical providers, helping them to deliver coordinated care that keeps patients healthier and improving outcomes while keeping costs under control."
Michael Blumhoff, MD, CEO of OneHealth Urgent Care, added, "The majority of urgent care clinics are small businesses that operate only a few clinics. As a result, they will have a difficult time achieving the necessary economies of scale to compete. OHUC provides an opportunity for small urgent care clinic owners to benefit from Capital Group's ability to combine complimentary resources, negotiate better reimbursement, provide marketing and advertising assistance, and ultimately achieve higher ownership value."
Recognizing the objectives of the recent budget proposal by President Obama, Capital Group is actively seeking partnerships with physician groups, hospital systems, and accountable care organizations (ACOs) to improve clinical care in a cost-efficient manner.
"We believe our OHUC clinics can help to ease the burden for provider organizations that most likely will struggle to keep pace with the increased number of patients that are projected to enter the market in 2014, helping them to meet customer access, patient satisfaction, and network management goals," further commented Mr. Cooper.
OneHealth Urgent Care clinics are staffed by Board Certified physicians and mid-level providers, delivering high quality, patient-focused medical care for non-life threatening illness or injury without an appointment. Open seven days a week, all OHUC clinics are equipped with state of the art digital radiography (x-ray) and have on-site phlebotomy services.
About OneHealth Urgent Care, Inc.:
OneHealth Urgent Care, Inc., through its acquisition of Alliance Urgent Care, LLC, is a rapidly growing, progressive urgent care organization in Arizona. Using state of the art technology, a virtually paperless environment and electronic health records (CCHIT certified) coupled with caring Doctors, board certified providers and staff, Alliance is able to consistently beat the national average for patient wait times. Alliance maintained a 99% patient satisfaction rating throughout 2012. For patient convenience we provide on-site lab testing and x-ray imaging. Alliance accepts credit cards (Visa, MasterCard and Discover) as well as all major insurance providers including Aetna, Blue Cross/Blue Shield, Cigna, Medicare and Medicaid, United Healthcare, Banner Health Plan, Arizona Foundation, HealthNet, and others. Alliance has grown from 1 clinic in 2007 to 7 in 2013, and plans to open additional clinics in the next 12 months. OneHealth Urgent Care plans to bring its unique brand of speedy, caring, patient-friendly clinics to other states in the near future. www.onehealthurgentcare.com
About Capital Group Holdings:
Capital Group Holdings, Inc. is an acquirer and operator of fundamentally-sound companies that are market accepted, scalable and demonstrate a quantifiable value proposition. Our focus is Health and Wellness organizations that have a strong market presence, brand awareness and talented and dedicated management teams with the potential to achieve exceptional performance over time. Capital Group Holdings lends its operational support, management approach and financial resources to these companies to achieve improvements in both bottom-line growth and positioning in the marketplace. Capital Group Holdings currently operates two wholly owned subsidiaries; OneHealthPass, Inc. and OneHealth Urgent Care, Inc. www.capitalgroupholdings.com
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those regarding Capital Group Holdings, Inc.'s expectations, intentions, strategies and beliefs pertaining to future events or future financial performance. All statements contained herein are based upon current information available to Capital Group Holdings, Inc.'s management as of this date. The business and operations of the Company are subject to substantial risks which increase the uncertainty that forward-looking results will be achieved and actual events or results may vary materially as a result of various important factors including those which management has little or no control. We undertake no duty to update any of the forward-looking statements, whether as a result of new information, future events or otherwise. In light of the foregoing, readers are cautioned not to place undue reliance on such forward-looking statements.
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