Plantation, Feb. 21, 2013 (GLOBE NEWSWIRE) -- Health Revenue Assurance Holdings Inc. ("HRAA"or the "Company") (OTCBB: HRAA), the leading provider of revenueintegrity solutions for healthcare organizations, announced todaythat it has completed a loan agreement (the "Loan Agreement")whereby lenders provided the Company with a secured loan facilityfor a total of $2.035 million (the "Loan"). The Loan bears interestat 12 percent per annum and matures on April 30, 2015. The proceeds of the loan secured by HRAA will be used forworking capital purposes and may be prepaid by the Company prior toits maturity date without penalty. "We are very excited to have secured thisfinancing as it shows the confidence our investors have in thefuture of HRAA, as well as our ability to lead this company,"stated Robert Rubinowitz, HRAA's President and COO. "With our dataanalytics technology and coding business accelerating, we will usethis capital to expand our list of customers as we continue toexecute our growth strategy." About HRAA HRAA (OTCBB: HRAA) is a leading provider ofrevenue integrity technology and services for healthcareorganizations across the US, interpreting data to ensure thathealthcare is efficient and effective for everyone. Foundedin 2001 and based out of Plantation, FL, HRAA combines years ofindustry expertise with best-in-breed technology to create marketleading business intelligence products and consulting services toimprove the healthcare delivery experience for doctors, nurses andpatients. HRAA offers the only full suite ofsolutions needed to keep up with the ever-changing healthcareindustry, which include: data analytics software, businessintelligence technology, medical coding, auditing, education,revenue cycle consulting, and ICD-10 transition solutions. For moreinformation please visit: http://www.hraa.com. Caution Regarding Forward LookingStatements Certain statements in this news release and suchconference call are forward-looking, including (without limitation)expectations or guidance respecting customer contract expansion,growing revenues and profits through organic growth andacquisitions, attracting new business that will increase HRAA'srevenues, continuing to maintain costs and consummating anytransactions. Undue reliance should not be placed on suchforward-looking statements because the matters they describe aresubject to known and unknown risks, uncertainties and otherunpredictable factors, many of which are beyond the Company'scontrol. The Company's actual results, performance and trends coulddiffer materially from those indicated or implied by suchstatements as a result of various factors, including (withoutlimitation) the continued strengthening of HRAA's selling andmarketing functions, continued customer satisfaction and contractrenewal, new product development, continued availability of capablededicated personnel, continued cost management, the success andavailability of acquisitions, availability of financing and otherfactors, as well as by factors applicable to most companies such asgeneral economic, competitive and other business and civilconditions. Information regarding certain of those and other riskfactors and cautionary statements that could affect future results,performance or trends are discussed in HRAA's most recent annualreport on Form 10-K, quarterly reports on Form 10-Q, and otherfilings made with the Securities and Exchange Commission from timeto time. All of the Company's forward-looking statements areexpressly qualified by all such risk factors and other cautionarystatements.
CONTACT: Investor Relations Contacts: Phil Carlson / Alex Woodbury KCSA Strategic Communications 212-896-1233 / 212-896-1267 email@example.com / firstname.lastname@example.org or Katerina Jones 954.472.2340 email@example.com Media Contacts: Danielle DeVoren / Brittany Fraser KCSA Strategic Communications 212-896-1272 / 212-896-1251 firstname.lastname@example.org / email@example.com