Quintek Further Penetrates Healthcare Outsourcing Market with Focus on Risk Management Services
HUNTINGTON BEACH, Calif.–July 27, 2006–Quintek Technologies Inc. (OTCBB: QTEK), a global provider of Business Process Outsourcing (BPO) and best-of-breed technology consulting services, continues to expand into the large and fast-growing healthcare outsourcing market. Quintek estimates that the market for services it provides in this space to be $1.5 billion nationally. Quintek is now providing services for companies providing Risk Management services and seeking further growth in this market.
Robert Steele, Quintek CEO, added: “We estimate that the market for the services we provide in this space to be over $1.5 billion. In the healthcare arena we are currently providing ongoing services to the largest, independently owned healthcare practitioner, Credentials Verification Organization (CVO), in the world. Additionally, we have increased the services we provide to the largest biotechnology company in the world which represents a material increase in billings to this customer.” He continued, stating that, “Quintek has completed jobs directly or indirectly for Cedars Sinai Medical Center in Los Angeles, Long Beach Memorial Care, Alteer Corporation, Precyse Solutions as well as several multi-physician practices.” Steele ended, “Our focus on healthcare industry as well the other targeted industries will be the key to our continued success.”
David Lequeux, Quintek director of business development, stated: “I was brought on board to increase penetration into the large and lucrative healthcare industry. We are succeeding at that goal. We recently completed work for a physician-owned medical liability company, providing liability protection, rigorous underwriting, claims management priorities and very involved risk management programs for California physicians.” Lequeux added, “Additionally, together with our HIPAA-compliant partner Manhattan Data Inc. (MDI) we have been providing ongoing scanning services to VerifPoint for several months from which our revenue has doubled.” He ended, “We are stepping up our efforts in Healthcare and Risk Management services due to our recent customer successes and plan to continue to deliver the highest quality of services to the industry.”
About Quintek Technologies Inc.
Quintek Technologies Inc. (OTCBB:QTEK – News), through its wholly owned subsidiaries Quintek Services Inc. (QSI), and Sapphire Consulting Services Inc., provides services to enable Fortune 500 and Global 2000 corporations to reduce costs and maximize revenues.
QSI delivers Business Process Outsourcing (BPO) services and solutions that enable companies to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO. The Aberdeen Group, a provider of IT market intelligence, forecasts 13 percent annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion.
Sapphire Consulting Services Inc. offers a broad range of supply chain management consulting services. Sapphire assists organizations to create a higher level of customer satisfaction, enhance supply chain capability and achieve consistent competitive advantage through reduced product cost, reduced inventory investment and improved supply chain security. A study by IDC found the SCM services market will expand from $26.1 billion in 2002 to $40.5 billion in 2007, representing a five-year compound annual growth rate (CAGR) of 9.2 percent.
For more information, visit http://www.quintek.com.
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), including statements regarding potential sales, the success of the company’s business, as well as statements that include the word “believe” or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek’s Annual Report on Form 10-KSB for the fiscal year ended June 30, 2005, and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, inability to timely develop of products or services, inability to deliver products or services when ordered, inability of potential customers to pay for ordered products or services, and political and economic risks inherent in domestic and international trade.
Contact:
Quintek Technologies Inc.
Andrew Haag, 714-848-7741, ext. 14
ahaag@quintek.com
or
Cinapsys Inc.
Mark Moline (Communications), 760-458-4899
mark@cinapsys.com
For more information, visit:
http://www.quintek.com.
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