Precis Agrees to Sale of Foresight Club to Benefit Marketing Solutions
December 12 2005 - 5:54PM
PR Newswire (US)
GRAND PRAIRIE, Texas, Dec. 12 /PRNewswire-FirstCall/ -- Precis,
Inc. (NASDAQ:PCIS), a provider of access to affordable healthcare
products and services to the ever growing number of uninsured
and/or underinsured in the United States, announced today that it
has agreed to a transaction whereby Benefit Marketing Solutions
(BMS), a privately-held Oklahoma company, acquires substantially
all of the operating assets of Precis' Foresight Club division.
Foresight Club has designed and offered membership programs for
rental- purchase companies, financial organizations, employer
groups, retailers and association-based organizations since 1989.
These membership programs are sold as part of a point-of-sale
transaction or through direct marketing efforts. It was acquired by
Precis in 2000. Certain BMS principals, Danny Wright, CEO, Brett
Wimberley, Chief Operating Officer and Susan Matthews, Chief
Marketing Officer, were closely involved in the formation and
management of Foresight prior to its acquisition by Precis.
Together they have also been instrumental in the growth of BMS to
its present position as the largest club provider in the
Rent-to-Own (RTO) arena. The company markets through more than
3,500 retail store locations in the U.S. and Puerto Rico. "The
divestiture of our Foresight Club division represents another step
in our turnaround efforts and allows us to sharpen our focus on our
core health care related business. We are confident that our
existing Foresight clients and members will be well served by BMS
because of the collective experience of BMS management with
Foresight and their knowledge of the products, systems and
operational methods employed in that business," said Bob Bintliff,
Precis CFO. "We intend to combine the strengths of each entity to
deliver increased value and more efficient service to both
Foresight and BMS clients. BMS will integrate the operations of the
two companies and consolidate its administrative and marketing
functions at its BMS headquarters," Wright said. The effective date
of the transaction is December 1, 2005. About Precis Inc. Precis,
Inc. and its subsidiaries market non-insurance health care savings
programs, provide third party administration services to self
funded employer groups and market a line of nutraceuticals. For
more information on Precis, and its subsidiaries visit
http://www.precis-pcis.com/ . About Benefit Marketing Solutions
Benefit Marketing Solutions is headquartered in Norman, Oklahoma
and has offices in Dallas and St. Louis. Its main office is located
at 900 36th Ave. NW, Suite 105, Norman, OK, 73072. 405-579-8525.
DATASOURCE: Precis, Inc. CONTACT: Bob Bintliff, Chief Financial
Officer of Precis, Inc., +1-972-343-6501; or Danny Wright, CEO of
Benefit Marketing Solutions, +1-405-579-8525; or Annemarie Marek of
Marek & Company, +1-469-235-2166; or Joe Diaz of Lytham
Partners, +1-480-675-0400, both for Precis, Inc. Web site:
http://www.precis-pcis.com/
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