Stock Hideout - View Single Post - ACGI.OB-The Amacore Group, Inc.-Offering solution for US healthcare crisis!!

penny-trader · Tue, 01-22-2008, 08:43 AM

The Amacore Group, Inc. Receives Additional $3 Million from Sale of Convertible Preferred Stock to Vicis Capital Master Fund
Tuesday January 22, 8:00 am ET

Funds To Be Used For Acquisitions, Expansion Of Existing Business
LAKE MARY, Fla.--(BUSINESS WIRE)--The Amacore Group, Inc., (OTC BB: ACGI - News), a leader in providing health-related membership benefit programs, insurance programs, and other innovative and high-quality solutions to individuals and families across the country, today announced that Vicis Capital Master Fund has further expanded its investment in The Amacore Group by purchasing additional shares of the Company's convertible preferred stock for $3.0 million, convertible at a peg price of $5. This follows a similar investment made in October.

Clark A. Marcus, CEO of The Amacore Group, said, “This infusion of capital is yet another vote of confidence in Amacore by Vicis. In the last few months, we have added additional distribution channels, provider networks, new products and acquired Texas-based LifeGuard Benefit Services, Inc., which provides insured and non-insured health benefits along with its services to over 1.5 million families.”

He added, “Amacore’s plans for 2008 are to continue with this growth both organically and by acquisition where appropriate. In 2007, we put the machinery in place for a breakthrough year in 2008. That breakthrough became visible in the last quarter of 2007, and we expect it to expand rapidly in 2008.

Shad Stastney, a partner of Vicis Capital, stated, "Amacore’s growth is proceeding very rapidly, and we are very pleased with their progress. We are making this investment in the company to further demonstrate our commitment to their innovative and comprehensive approach to the healthcare marketplace.

With the additional capital provided Amacore can virtually expand at will and acquire opportunities that present themselves. America’s healthcare system is broken, and Amacore is one of the few entities with a solution that is available right now, that doesn’t need approval from Washington and that everyone can afford. We are extremely confident of great things from Amacore in 2008.”

About Vicis Capital, LLC

Vicis Capital, LLC is the investment advisor to Vicis Capital Master Fund, a multi-strategy hedge fund. Vicis Capital, LLC is based in New York, NY.

About The Amacore Group, Inc.

The Amacore Group, Inc. (Welcome To Amacore Group) offers innovative and affordable healthcare solutions to families, individuals, small and large employer groups, and association markets through a wide array of unique products, benefits and services created for the consumer driven healthcare market. The Company also offers a unique and proprietary administrative system that supports call center management, agent distribution and affinity marketing for all levels of product delivery and reporting. Amacore has created several limited medical programs that include its new Diamond Series and Discount Medical programs, featuring Smarthealth Plus and Smarthealth Premier, which expand the Company's offerings beyond its very successful eye care program, Eye Care International (www.ecivisionplan.com). These new programs offer discounts on quality hearing, dental, vision and doctor visits, among other benefits. Amacore is aggressively signing distribution and sales contracts with marketing companies to offer these programs nationwide. Through its wholly-owned subsidiary, LifeGuard Benefit Solutions, Inc., Amacore now has the ability to provide administrative and back-office services to other healthcare companies in addition to expanding its own call center capability through its wholly-owned subsidiary, JRM Benefits Consultants, LLC.

This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, our ability to achieve a break through year, financial condition, future acquisitions, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," “will,” "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the Company’s Annual Report of Form 10-KSB for the year ended December 31, 2006 filed with the Securities and Exchange Commission, not all of which are known to the Company. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.

Contact:

The Amacore Group, Inc.
Jay Shafer, President
or
Porter, LeVay & Rose, Inc.
Linda Decker, VP – Investor Relations
Bill Gordon, SVP – Media Relations
212-564-4700

Source: The Amacore Group, Inc.

Tue, 01-22-2008, 08:43 AM	#3 (permalink)
penny-trader Member Join Date: Feb 2007 Posts: 46	The Amacore Group, Inc. Receives Additional $3 Million from Sale of Convertible Preferred Stock to Vicis Capital Master Fund Tuesday January 22, 8:00 am ET Funds To Be Used For Acquisitions, Expansion Of Existing Business LAKE MARY, Fla.--(BUSINESS WIRE)--The Amacore Group, Inc., (OTC BB: ACGI - News), a leader in providing health-related membership benefit programs, insurance programs, and other innovative and high-quality solutions to individuals and families across the country, today announced that Vicis Capital Master Fund has further expanded its investment in The Amacore Group by purchasing additional shares of the Company's convertible preferred stock for $3.0 million, convertible at a peg price of $5. This follows a similar investment made in October. Clark A. Marcus, CEO of The Amacore Group, said, “This infusion of capital is yet another vote of confidence in Amacore by Vicis. In the last few months, we have added additional distribution channels, provider networks, new products and acquired Texas-based LifeGuard Benefit Services, Inc., which provides insured and non-insured health benefits along with its services to over 1.5 million families.” He added, “Amacore’s plans for 2008 are to continue with this growth both organically and by acquisition where appropriate. In 2007, we put the machinery in place for a breakthrough year in 2008. That breakthrough became visible in the last quarter of 2007, and we expect it to expand rapidly in 2008. Shad Stastney, a partner of Vicis Capital, stated, "Amacore’s growth is proceeding very rapidly, and we are very pleased with their progress. We are making this investment in the company to further demonstrate our commitment to their innovative and comprehensive approach to the healthcare marketplace. With the additional capital provided Amacore can virtually expand at will and acquire opportunities that present themselves. America’s healthcare system is broken, and Amacore is one of the few entities with a solution that is available right now, that doesn’t need approval from Washington and that everyone can afford. We are extremely confident of great things from Amacore in 2008.” About Vicis Capital, LLC Vicis Capital, LLC is the investment advisor to Vicis Capital Master Fund, a multi-strategy hedge fund. Vicis Capital, LLC is based in New York, NY. About The Amacore Group, Inc. The Amacore Group, Inc. (Welcome To Amacore Group) offers innovative and affordable healthcare solutions to families, individuals, small and large employer groups, and association markets through a wide array of unique products, benefits and services created for the consumer driven healthcare market. The Company also offers a unique and proprietary administrative system that supports call center management, agent distribution and affinity marketing for all levels of product delivery and reporting. Amacore has created several limited medical programs that include its new Diamond Series and Discount Medical programs, featuring Smarthealth Plus and Smarthealth Premier, which expand the Company's offerings beyond its very successful eye care program, Eye Care International (www.ecivisionplan.com). These new programs offer discounts on quality hearing, dental, vision and doctor visits, among other benefits. Amacore is aggressively signing distribution and sales contracts with marketing companies to offer these programs nationwide. Through its wholly-owned subsidiary, LifeGuard Benefit Solutions, Inc., Amacore now has the ability to provide administrative and back-office services to other healthcare companies in addition to expanding its own call center capability through its wholly-owned subsidiary, JRM Benefits Consultants, LLC. This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, our ability to achieve a break through year, financial condition, future acquisitions, liquidity, results of operations, plans and objectives. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," “will,” "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions. One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of our future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the Company’s Annual Report of Form 10-KSB for the year ended December 31, 2006 filed with the Securities and Exchange Commission, not all of which are known to the Company. The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements. Contact: The Amacore Group, Inc. Jay Shafer, President or Porter, LeVay & Rose, Inc. Linda Decker, VP – Investor Relations Bill Gordon, SVP – Media Relations 212-564-4700 Source: The Amacore Group, Inc.