WILMINGTON, Del., July 30, 2008 /PRNewswire-FirstCall/ -- Universal Capital Management, Inc. (OTC Bulletin Board: UCMT.OB), a Wilmington, Delaware business development company that provides management and strategic growth resources to emerging growth companies, is pleased to announce the addition of iVolution Medical Systems to its group of portfolio companies.
iVolution Medical Systems provides a unique combination of advanced, user-friendly, highly-secure and affordable healthcare technology solutions to both physicians and consumers.
For physicians, the suite of solutions and services facilitates the automation of virtually all interaction with patients, insurers, labs and pharmacies, as well as provides valuable tools to monitor and optimize the financial and administrative aspects of the doctors' businesses. iVolution will also offer resources to assist such businesses in conducting basic marketing activities, as well as sophisticated consulting services tailored to the needs of such individual practice clients.
Patients benefit from a complete healthcare portal to consumers seeking to consolidate their medical histories for quick, secure access via the Internet. This allows customers to retrieve records of illnesses, injuries, doctor visits, treatments, test results, medications, etc. with the click of a mouse.
In addition, iVolution is a billing and collection company, and it services the physician and hospital market through a cost-effective outsourced back-office that is combined with a highly seasoned customer service team stationed in the U.S.
"It is safe to say that no other vendor has a similar product combination than what we can offer," said Craig Cohen, Chairman and CFO. "We believe we are very appealing to our primary targets."
Pursuant to its business plan as a Business Development Company, Universal intends to dividend shares of iVolution to Universal shareholders upon the effectiveness of iVolution's S-1 registration statement that iVolution expects to file with the Securities and Exchange Commission later this year.
About Universal Capital Management, Inc.:
Universal Capital Management, Inc., is a publicly traded Business Development Company created under the Investment Act of 1940. Its purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value. Please refer to the company's website at http://www.unicapman.com.
Forward-looking Statements:
Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as Universal Capital Management, Inc., or iVolution "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe UCM's or iVolution's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of UCM or iVolution as appropriate, and the valuation of UCM's investment portfolio, which could cause actual results to differ materially from those currently anticipated. Although UCM and iVolution believe the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and both UCM and iVolution do not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
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