MED3OOO CONSOLIDATES SOUTHEAST REGION JOINT VENTURE

PITTSBURGH, PA - MED3OOO GROUP, INC. (MED3OOO), a privately held national healthcare management and technology company, recently announced that it has acquired sole ownership of MED3OOO Health Solutions, Southeast Region, which was previously operated as a joint venture, by issuing common stock of MED3OOO to HFN Northwest Florida, LLC (HFNNWF).

In a related development, MED3OOO will also become the sole owner of Healthcare Systems of Pensacola, another Pensacola-based joint venture, which will consolidate its operation into MED3OOO Health Solutions, Southeast Region.

This transaction is a continuation of MED3OOO's efforts to consolidate its joint ventures into wholly owned subsidiaries with one corporate identity under the MED3OOO corporate umbrella.

"We began this effort in 1998 with our acquisition of the remaining interest in Healthcare Systems of Connecticut, now our 'Northeast Region,' and continued in 2001 with the acquisition of the joint venture interest of Provena Ventures in our 'Central Region,'" said MED3OOO Chairman and CEO Patrick Hampson.

"Although the joint venture structure provided an excellent vehicle for entering markets in partnership with local providers, our evolution into a national company, operating in nine states, with over 450 employees, has made it necessary to take advantage of the efficiencies presented by running the company as one entity," Hampson continued.

Charles Brewer, President of HFNNWF commented, "We've enjoyed our partnership with MED3OOO and understand that as the growth of MED3OOO as a whole accelerates, it will be better served as one entity. This was an opportune time to exchange our 50% interest in a regional operation for a piece of a national company primed for expansion."

G. Ronald Parker, Chief Executive Officer of MED3OOO Health Solutions, Southeast Region added. "MED3OOO and Health First have enjoyed a great partnership. This merger will allow us to participate in MED3OOO's growth and realize the economies of being a part of a larger organization."

Headquartered in Pittsburgh, Pennsylvania, MED3OOO has operations centers in California, Colorado, Connecticut, Florida, Illinois, Pennsylvania, and West Virginia. A leader in healthcare management and the integration of healthcare software solutions, MED3OOO's goal is to improve the performance of physician practices through evidence-based management and technology. MED3OOO combines an expert staff experienced in the day-to-day operations of physician practices and IPAs with an information-service team that provides solutions designed to improve clinical and business operations performance.