June 16, 2004, New York, NY:
Tranquilmoney increases revenue under management
Tranquilmoney, Inc. announced today that it now manages over $500 million in healthcare receivables for healthcare providers. Tranquilmoney's list of clients, include medium sized pharmacy chains, hospitals and physician practice groups in the US. Addressing a group of employees and sales partners at it's offices in Midtown Manhattan, Karun Philip, Chairman & CEO says this is only the tip of the ice berg. Healthcare spend in the US is almost $2 Trillion and the big opportunity is in securitizing these receivables.