CBP Certive Solutions Inc

The Board of Directors of Certive Solutions Inc. (the "Company") (CSE:CBP),
having closed the acquisition of the assets of Titan Health Management Solutions
("Titan Health") on July 3, 2014 (financial close on June 1, 2014), wishes to
provide shareholders and other interested stakeholders with a summary of our
business as of the closing date. This summary is provided as a point of
reference that will enable shareholders to measure and evaluate reported growth
and scale of operations during the upcoming months. 


As of May 31, 2014, our acquired assets had generated a total of USD$923,336 in
aggregate revenues for the five months ended compared to USD$433,644 for the
five month period ending May 31, 2013, an increase in 2014 of 113%. 


As of the date of closing the asset acquisition, our staff and management had
collected over USD$4,097,308 for our client hospitals. For the year ended
December 31, 2013, the acquired assets collected over USD$10,000,000 for our
client hospitals and generated USD$1,525,756 in gross revenue. Year-to-date
revenues have now surpassed fiscal 2013. 


During this period we continued to increase our client base with a total of 15
new hospitals and hospital systems added to our roster of contracted providers.
Additionally, we have identified several new lines of business within revenue
cycle management that have contributed significantly to the increased operating
results, prior to closing our acquisition. 


By June 30, 2014, our acquired employee base had doubled over the preceding
year, sustained by the growth in all categories of contracted revenue recovery
for our customers. The work ethic excellence of the acquired staff has been
demonstrated repeatedly during this period of rapid expansion. From identifying
material coding errors in hospital customer billings to mastering the
intricacies associated with complex medical assessment files, the recovery
results speak for themselves, much of which accounts for the growth in revenues
over the past six months. 


The Tucson facility provides a scalable physical facility as we expand and our
occupancy needs increase. A planned move within the existing location will more
than support anticipated growth over the next year. 


Immediately upon closing the acquisition, the Company commenced initiation of
its two phase technology deployment program. Identifying processes that are
easily automated using our technology is key, as management drives for
scalability, increasing profitability, and the ability to best utilize its
seasoned complement of professional auditors. 


As our Company continues to leverage its expertise and support growth with cloud
technology enablement, the impact will be realized in more business volume and
greater efficiency in claims auditing and collection, all of which will yield to
greater profitability and the ability to further expand through acquisition. 


The Company is deemed to have closed the acquisition for financial reporting
purposes on June 1, 2014. Accordingly, we will record our first full quarter
results as at August 31, 2014. On an interim basis, the Company proudly reports
revenue of USD$214,387 for the month of June and cash collections in the month
of USD$247,336, all on revenue collected for our hospital customers of
USD$687,452. Our revenue share model averaged 31% of hospital collections for
the month. 


ON BEHALF OF THE BOARD OF DIRECTORS OF CERTIVE SOLUTIONS INC.

Van Potter, President, CEO, Director

About Certive Solutions Inc. 

Certive Solutions Inc. (Scottsdale, Arizona) provides cloud revenue cycle
management solutions to U.S. hospitals, delivered collaboratively, utilizing
proprietary workflow document management and analytics technologies tailored to
health care business processes. Certive is currently focused on the denied claim
segment of revenue cycle management. Certive's solutions enhance the efficiency
and effectiveness of denied claims recovery in a revenue sharing relationship
that improves hospital net operating results. 


The forward-looking information contained in this press release is made as of
the date of this press release and except as required by applicable law, the
company does not undertake any obligation to update publicly or to revise any of
the included forward-looking information, whether as a result of new
information, future events or otherwise. By its very nature, such
forward-looking information requires the company to make assumptions that may
not materialize or that may not be accurate. This forward-looking information is
subject to known and unknown risks and uncertainties and other factors, which
may cause actual results, levels of activity and achievements to differ
materially from those expressed or implied by such information. Neither the
company nor the Canadian Securities Exchange accepts responsibility for the
adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Certive Solutions Inc.
Brian Cameron
Chief Financial Officer
480-922-5327
bcameron@certive.com

Certive Solutions (CSE:CBP)
Historical Stock Chart
From Nov 2024 to Dec 2024

Certive Solutions (CSE:CBP)
Historical Stock Chart
From Dec 2023 to Dec 2024