The Quantum Group, Inc. Executes Letter of Intent to Acquire Medical Billing and Collections Software Platform WELLINGTON, Fla., Aug. 4 /PRNewswire-FirstCall/ -- The Quantum Group, Inc. (OTC:QTUM) (BULLETIN BOARD: QTUM) today announced that it has executed a non-binding letter of intent to acquire an Application Service Provider (ASP) currently in beta testing which provides medical billing and practice management from a company based in South Florida. The software package includes source codes, copyrights, existing relationships and all intellectual and marketing rights, and further provides HIPAA-compliant electronic medical billing and financial management for medical practices. The Company did not release the name or the additional terms of the pending transaction, and further advised that their team of experts have completed the first phase of the review process. Currently, the Company is conducting the final phase due diligence on the product, which is presently used in various medical offices in South Florida. A closing within 30 days is anticipated if the process continues as expected. Mr. Noel J. Guillama, President and CEO of The Quantum Group, commented, "For a while now we have been looking for the right platform to bring to the medical community a new kind of business process outsourcing, and we feel quite good about what we have found. We believe that if preliminary indications prove to be correct, this could be the basis for a proprietary product that we can license, re-brand for others and provide the entire billing and collection process for physicians at lower up-front and residual cost. This would in turn allow the doctor to avoid investing in new hardware or software updates going forward and could be a foundation for the highly sought electronic healthcare record system in the future." Mr. Guillama warned that though his team is very excited by this prospective acquisition, there were hurdles to clear, including, but not limited to, the successful completion of the due diligence, testing and subsequent upgrading, re-deployment and marketing of the final ASP product. The ASP software is written in C (sharp) and on a Microsoft.net platform. An ASP is a third-party that provisions software applications over the Internet. The physician accesses remote, centralized computer servers that are hosting the application and is responsible solely for the end-results obtained through utilization of the application. Quantum, the ASP provider, is responsible for the initial and daily maintenance of the medical billing and collections software itself. The Quantum Group, Inc., is a Wellington, Florida-based healthcare company in its development stage, providing outsourcing, technology-based solutions, government compliance, education, policy consulting and venture management to the healthcare industry. Quantum is currently involved in: outsourcing for physicians, managed care organizations, healthcare facilities, and physician associations; developing three patent-pending healthcare solutions identified as Cybernaptics(SM), Quantum Quotient(SM) (or QX2)(SM) and MDAutomated(SM), all with the intention to provide new efficiencies to the $1.6 billion U.S. healthcare system; and providing leading-edge healthcare services to consumers. The Quantum Group -- "healthcare solutions for a new generation."(SM) Certain statements contained in this news release, which are not based on historical facts, are forward-looking statements as the term is defined in the Private Securities Litigation Reform Act of 1995, and are subject to uncertainties and risks in part detailed in the respective company's Securities and Exchange Commission 10-K, 10-Q, S-8 and 8-K filings, that may cause actual results to materially differ from projections. Although the company believes that its expectations are reasonable assumptions within the bounds of its knowledge of its businesses and operations, there can be no assurance that actual results will not differ materially from their expectations. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include the company's ability to execute properly its new business model, to raise additional capital to implement new business model, the ability to attract and retain personnel and the inherent risk associated with a diversified business to achieve positive cash flow. In light of these risks and uncertainties, there can be no assurance that the forward-looking information contained in this report will, in fact, occur. Media Contact: Danielle Amodio Director of Corporate Communications The Quantum Group, Inc. 561-798-9800 DATASOURCE: The Quantum Group, Inc. CONTACT: Danielle Amodio, Director of Corporate Communications, The Quantum Group, Inc., +1-561-798-9800 Web site: http://www.thequantumgroupinc.com/

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