Precis' Foresight Subsidiary Announces Private Label Membership Agreement with Atlanta-Based PEDCO for Motorcycle Enthusiasts & Other Travelers
GRAND PRAIRIE, Texas--Feb. 25, 2003--Precis, Inc. , a leader in healthcare services and membership based programs based in the Dallas-Fort Worth area, announced that its subsidiary Foresight Inc. has signed a deal with Prospect Enterprise & Development Co., (PEDCO, LLC), an Atlanta-based company to provide a private label membership program marketed toward motorcycle enthusiasts and the travel and leisure public."This concept serves motorcyclists and cross country travelers well," said Judith Henkels, President and CEO of Precis, Inc. "Its portability to work anywhere in the country by offering healthy travel assurance makes this program attractive and offers those who are miles away from home a peace of mind. Users will find easy access to a network of physicians, a host of travel benefits including a $1000 tire and wheel guarantee and emergency travel and living expense reimbursements.
Ms. Henkels commented further, "The signing of this Private Label Agreement with PEDCO, follows our recently announced agreement with the Miramar Group, Inc. earlier this month, providing its 12,500 agents in 45 states with a private label healthcare savings program. We will continue to work to sign more agreements."
"We set out to find a company that would fit the needs of our niche market and beyond," said Rueben Jackson, PEDCO Founder and President. "After much research, we found that Foresight and Precis offered just the right products and services we needed to make this program a reality."
The customized program will feature Precis' non-insurance medical savings program, Care Entree, which can be used within a network of more than 350,000 physicians nationwide. As a part of the same package, the customers will be able to have access to savings in prescription medications, alternative care, vision and dental care, hearing aids, ancillary services, a 24-Hour Health Hotline and Excess Accident Medical Coverage.
The program will also feature a Travel and Leisure savings package, with air ambulance and emergency roadside assistance services, a $500 auto deductible reimbursement and other premium travel benefits, and the Precis-Instacare Emergency Smart Card. The card provides vital information such as medical history, medications, allergies, emergency contacts and insurance provider information on the card's smart chip. Participating emergency personnel can instantly retrieve the information on a hand-held portable reader or calling the toll-free number on the front of the card for operator assistance 24 hours a day, seven days a week.
Prospect Enterprise & Development Co. of Atlanta will market the program under the name "For Your Good Health", which provides alternative health care solutions for individuals and businesses. The program will be sold through the company's www.thetravelcare.com web site and via about 500 motorcycle and motor home dealers nationwide. PEDCO is a research and development company specializing consumer products and supplying products and services geared toward the motorcycle enthusiast.
Foresight markets value-added programs to a variety of industries including rent-to-own, banking and community credit unions. Foresight offers its clients the flexibility to build customized programs from a menu of benefits and services. Foresight also provides in-house claims administration, which increases customer satisfaction and allows the company to save the costs of a third-party administrator.
Foresight serves more than 560,000 individual customers nationwide. With the increasing need for cost-effective ways to strengthen customer loyalty and establish market positions, Foresight has successfully designed, implemented and maintained membership programs for more than 20 years. Foresight's products and services include insurance coverage, registration services, health-related savings, emergency services, automotive and roadside assistance and a variety of retail and entertainment discount programs.
About Foresight and Precis
Foresight, Inc. is a subsidiary of Precis, Inc. . Located in Grand Prairie, Texas, Precis provides programs to a variety of industries including healthcare, retail, banking, consumer finance and member-based associations. Its leading program, Care Entree, is a non-insurance, membership-based healthcare savings program designed to significantly reduce out-of-pocket medical expense at affordable rates to the consumer while helping the medical community receive accelerated payment for services. For more information about Precis or Foresight, visit www.precis-pcis.com or www.foresightclub.com.
About Prospect Enterprise & Development Company, LLC
Prospect Enterprise & Development Co. is headquartered in Atlanta, Georgia. PEDCO is a research and development company that specializes in developing new consumer products for the power sports and travel and leisure industries.
Among the company's other services are computer-assisted design, graphic design, patent searches and publishing. Bikebone.com is its online store specializing in high-quality and unique motorcycle anti-theft products. The product line includes motorcycle and trailer locks, alarm systems and other travel-related products such as global positioning systems, camping gear, tools, first aid kits, personal electronics and more.
Certain statements included in this news release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Certain, but not necessarily all, of such forward-looking statements can be identified by the use of forward-looking terminology such as "anticipate," "believes," "expects," "may," "will" or "should" or other variations thereon, by discussions of strategies that involve risks and uncertainties. Precis Inc.'s actual results or industry results may be materially different from any future results expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include general economic and business conditions; Precis Inc.'s ability to implement its business strategies; competition; availability of key personnel; increasing operating costs; unsuccessful promotional efforts; changes in brand awareness; acceptance of new product offerings; retention of members and independent marketing representatives and changes in, or the failure to comply with, government regulations. Please refer to the Company's publicly available filings with the Securities and Exchange Commission for other additional factors. Readers are cautioned not to place undue reliance on these forward -looking statements, which are as of the date hereof.