EPIC, Senior Care Group sign MOU to acquire interests in 10 healthcare facilities

EPIC Corporation (OTC:EPOR) (the “Company”), a financial services company, announced it has entered into a Memorandum of Understanding (“MOU”) with Senior Care Group, Inc. (“Senior Care”) for the acquisition of interests in 10 healthcare facilities.

Senior Care is a 501-C-3 non-profit corporation which for over 25 years has purchased, syndicated, managed and operated skilled nursing and assisted living facilities delivering care to the elderly and delivering above average returns to its investors. Currently, Senior Care is operating and managing approximately 27 healthcare facilities. The MOU provides for EPIC to acquire interests in 10 of the facilities operated by Senior Care in a series of transactions over a twelve month period. As each transaction is closed, EPIC will exchange the acquired interests with the Trust.

The 10 facilities, included in the MOU, for the 12 months ending June 30, 2009 had net revenues of $71,950,000 with a net profit of $4,550,000. The MOU transactions are designed to provide the Trust with an initial source of revenue and profit, while the officers of the Trust work to acquire the investor interests in the facilities, which will produce additional income and profits.

The Trust's business plan is: (1) to acquire participation in the profits from facilities operated and managed by Senior Care; (2) to acquire ownership of healthcare facilities; (3) to provide long term financing for healthcare facilities; and (4) to participate in takeout financing for the Senior Care Communities developed by Senior Care.

EPIC's business is: (1) organizing, managing, and administering the Trust, (2) purchasing land for the development of senior care communities by Senior Care, (3) acquiring other types of healthcare facilities or assets to be managed by Senior Care, and (4) providing short term financing for healthcare facilities operated and managed by Senior Care. In order to focus on providing financial services to the healthcare industry, EPIC has transferred all non-core operations and assets to affiliates.