Message #13 From:
NewsBot Date: November 15, 2006 05:30:00 AM
NHPR News National Health Partners Announces Record Q3 2006 Results as Revenue Soars over 750%
HORSHAM, Pa.--(BUSINESS WIRE)--National Health Partners, Inc. (OTCBB: NHPR),
a leading provider of unique discount healthcare membership programs,
announced today that revenue climbed 751% to $411,045 for the third
quarter of 2006 from $48,282 for the third quarter of 2005, and members
soared 675% to another new record of 9,300 by the close of Q3 2006 from
1,200 at the close of Q3 2005. The company expects Q1 2007 revenue to
increase to between $3 million and $4 million due to the continuing
acceleration in revenue growth, representing an increase of between 800%
and 1,200% over Q1 2006 revenue of $324,404.
The increase in members and revenues were fueled by National Health
Partners’ successful recruitment of several
new prestigious business partners during Q3 2006. The company entered
into a co-marketing agreement with Irwin Naturals, a leading formulator
and supplier of high-quality natural health, herbal and nutritional
supplement products, through which Irwin Naturals is co-marketing the
company’s CARExpress programs through a
combination of direct marketing and up-sell marketing to its extensive
customer base. National Health Partners also announced during the
quarter that Aetna has joined its CARExpress network, adding to the
strength of the company’s impressive
CARExpress network.
Q3 2006 Financial Highlights
Revenues increased 751% to $411,045 for Q3 2006 from $48,282 for Q3
2005.
Members increased 675% to 9,300 for Q3 2006 from 1,200 for Q3 2005.
Net cash flows for Q3 2006 increased $343,734 to $313,969 from
$(29,785) for Q3 2005.
Net cash flows for the nine months ended September 30, 2006 increased
$1,223,428 to $1,212,230 from $(11,198) for the same period in 2005.
Cash and cash equivalents increased to $1,322,037 at September 30,
2006.
Working capital increased to $1,643,001 and the current ratio (current
assets divided by current liabilities) improved to 5.3 at September
30, 2006.
“We are very pleased with our results for the
third quarter of 2006,” stated David M.
Daniels, President and Chief Executive Officer of National Health
Partners. “Revenues increased 751% to $411,045
for Q3 2006 compared to $48,282 for Q3 2005 and our membership base
increased 675% to 9,300 for Q3 2006 from 1,200 for Q3 2005. The
tremendous growth in revenues we experienced this past quarter is the
result of the significant recurring monthly revenue streams we are
receiving from the members we are generating through our business
partners.”
“The investment we made in expanding the
number of business partners marketing and selling our programs has
worked out extremely well for us,” stated
Alex Soufflas, Chief Financial Officer and Executive Vice President of
National Health Partners. “The most recent
addition to our list of business partners, the Small Business Network of
America, should bode very well for us as it will bring us a valuable
opportunity to offer our programs to a large number of small businesses.”
The Small Business Network of America (SBNOA) is a national membership
association of small businesses that uses its group buying power to
negotiate discounts and rebates on behalf of its members. The company
and the SBNOA will be targeting the 25.9 million small businesses
operating in the United States.
Outlook For Q1 2007
The company expects to generate between $3 million and $4 million in
revenues during Q1 2007, representing an increase of between 800% and
1,200% over Q1 2006 revenues. The company attributes its substantial
future growth in revenue to the rollout of Health Advantage One. Under
Health Advantage One, National Health Partners will offer its CARExpress
discount health programs in combination with complementary insurance
programs, such as Accidental Death & Dismemberment (AD&D) insurance,
Accident Medical Expense (AME) insurance, and Disability insurance,
limited liability, or “Mini-Med,”
insurance programs and programs designed to complement Health Savings
Accounts (HSAs). The company recently unveiled several cutting-edge
insurance programs for Health Advantage One in response to the
overwhelming demand it was experiencing from small businesses and other
organizations.
“The rollout of Health Advantage One will
have a far reaching effect on our Q1 2007 revenues, cash flows and
profitability,” stated Mr. Daniels. “The
initial response we received from the business community for Health
Advantage One exceeded even our lofty expectations for its success. We
expect to generate between $3 and $4 million in revenues during Q1 2007
and significantly higher revenues thereafter due to the overwhelming
demand we are experiencing for our Health Advantage One programs. As our
revenues continue to grow and our costs continue to benefit from
economies of scale, we will become profitable. Achieving profitability
will be a major milestone in our history. Thereafter, as we continue to
execute upon our business plan, we expect strong growth in our
profitability.”
National Health Partners, Inc. is a national healthcare savings
organization that provides discount healthcare membership programs to
uninsured and underinsured people through a national healthcare savings
network called “CARExpress.”
CARExpress is one of the largest networks of hospitals, doctors,
dentists, pharmacists and other healthcare providers in the country and
is comprised of over 1,000,000 medical professionals that belong to such
PPOs as CareMark and Aetna. The company’s
primary target customer group is the 47 million Americans who have no
health insurance of any kind. The company’s
secondary target customer group includes the 61 million Americans who
lack complete health insurance coverage. The company is headquartered in
Horsham, Pennsylvania. For more information on the company, please visit
its website at www.nationalhealthpartners.com.
Safe Harbor Provision
This press 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 statements other than
statements of historical fact contained herein, including, without
limitation, statements regarding the company’s
future financial position, business strategy, budgets, projected
revenues and costs, and plans and objectives of management for future
operations, are forward-looking statements. Forward-looking statements
generally can be identified by the use of forward-looking terminology
such as “may,”“will,”“expects,”“intends,”“plans,”“projects,”“estimates,”“anticipates,”
or “believes” or
the negative thereof or any variation thereon or similar terminology or
expressions. Forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially from
results proposed in such statements. Although the company believes that
the expectations reflected in such forward-looking statements are
reasonable, it can provide no assurance that such expectations will
prove to have been correct. Important factors that could cause actual
results to differ materially from the company’s
expectations include, but are not limited to, its ability to fund future
growth and implement its business strategy, its ability to develop and
expand the market for its CARExpress membership programs, demand for and
acceptance of its CARExpress membership programs, its dependence on a
limited number of preferred provider organizations and other provider
networks for healthcare providers, as well as those factors set forth in
the company’s Annual Report on Form 10-KSB
and its other filings and submissions with the Securities and Exchange
Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date made. Except
as required by law, the company assumes no obligation to update or
revise any of the information contained in this press release.
