Bederra Corporation (PINKSHEETS: BEDA), a Houston, Texas based diversified medical services provider, recently published its six months results on www.pinksheets.com. For the six months ending June 30, 2009, the company had gross revenues of $1,293,780. While on an accrual basis the six-month financial statements show an operating loss of $405,925; the loss was due to slowness in the economy and the residual effects of Hurricane Ike, which disrupted many of the company's referral sources. The start up costs of the recently launched medical clinic, Reliant Medical Group Clinic, also contributed to the loss. The company is now expected to be profitable on an accrual basis by the end of the third fiscal quarter.
The company has made significant advances over the past six months in spite of the slowdown in the economy. Operating revenues were slow for the first four months but improved significantly with the opening of Reliant Medical Clinic. The clinic has added a steady flow of patients that can utilize the existing diagnostic and imaging services that the company currently provides.
The company is finalizing plans to add additional clinics to be located in carefully selected areas of Houston in the near future. Other diagnostic services will be added to each clinic to provide more valuable patient care and increase ongoing revenue streams for the company.
Management has engaged a local management-consulting group to investigate ways to improve collections, improve cash management systems and reduce costs by implementing a proprietary billing and collection software system.
Also, management is adding additional medical professionals to its clinic and is preparing its staff to handle the management of additional clinics acquired or started in strategic areas.
As stated in several previous press releases, the company is currently in negotiations to acquire Neogenex Medical Technologies and is currently in the due diligence phase of the acquisition. Neogenex markets a laser device that is FDA approved for use in the treatment of Carpal Tunnel Syndrome and Arthritis pain treatment and is being evaluated for wound care. This acquisition will add a diversification to the company's medical services that is consistent with its stated goal of creating, over the next few years, a diversified medical services company.