DALLAS, Sept. 14 /PRNewswire-FirstCall/ -- Claimsnet.com inc. (OTC Bulletin Board: CLAI), a leading provider of Internet-based ASP electronic claim processing solutions for the healthcare industry, announced today an agreement with Blackhawk Partners, a New York based investment and merchant bank.
Under the agreement, Blackhawk will act as Claimsnet's exclusive advisor in connection with financing and/or other services. These services include pursuing debt or equity financing, as well as other transaction opportunities, including but not limited to a sale transaction of a portion or substantially all of the assets or capital stock of Claimsnet, a merger or consolidation involving Claimsnet, a transaction involving a partial sale that is denominated as an alliance or joint venture, or a roll up transaction. Blackhawk will identify prospective capital sources for Claimsnet to meet with and assist in its selection of a financial partner/syndicate lender/investor(s) which may be led by Blackhawk, and will also advise Claimsnet throughout the process to help ensure a successful outcome in a timely manner.
Services will additionally include analyzing the business, properties, assets and operations of Claimsnet, identifying and screening prospective financial and/or strategic partners/investors, coordinating contacts with prospective investors and assisting in evaluating proposals from prospective investors, assisting in selecting the best potential transaction partner and proposal and in structuring, negotiating and completing a transaction.
"We are very pleased to be able to announce this strategic relationship and look forward to working with Blackhawk Partners to structure transactions that will lead to additional growth and development of the Claimsnet business plan," commented Don Crosbie, chief executive officer of Claimsnet.
Claimsnet.com inc. is a leading provider of Internet-based claim processing solutions for the healthcare payer industry, including distinctive, advanced ASP technology. Headquartered in Dallas, Texas, Claimsnet offers systems that are distinguished by ease of use, customer care, security and measurable cost advantages. More information on Claimsnet can be found at the Company's web site at http://www.claimsnet.com/.
Blackhawk Partners is a multi family office that represents the interests of 22 private family offices and sovereign wealth funds worldwide spanning the U.S., Europe and the Middle East. Further details are available at http://www.blackhawkpartners.com/. In contrast to most private equity groups, Blackhawk is structured as a "merchant bank" and can serve as both an advisor to and an investor in its clients. It thus takes pride in and is recognized for developing creative solutions, providing unparalleled service, funding and syndication capabilities in getting the difficult deals done. The investment approach consists of backing scalable global plays by being the "lead" investor and supplying all the capital required through exit. The core investment philosophy is a long-term partnership with talented operating executives who have a stellar track record of success and an investment thesis for the type of business that Blackhawk likes to acquire and which they are willing to back.
Safe Harbor Statement Under the Private Securities Litigation Act 1995 - With the exception of historical information, the matters discussed in this press release are forward looking statements that involve a number of risks and uncertainties. The actual future results of the company could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to, maintaining access to external sources of capital, regulatory actions, success of marketing strategies, actions of the Company's competitors, dependence on business partners and distribution channels, and continued use of the Internet. Further information on the Company's risk factors is contained in the Company's quarterly, annual, and other periodic reports as filed with the Securities and Exchange Commission.
Claimsnet.com inc.
CONTACT: Don Crosbie, CEO of Claimsnet.com inc., +1-972-458-1701, ext.
112, dcrosbie@claimsnet.com; or Raz Silberman, Texas Partner of Blackhawk,
Texas, +1-469-233-1790, razsil@gmail.com
Web Site: http://www.claimsnet.com/
http://www.blackhawkpartners.com/
