Proteonomix, Inc., (OTCBB:PROT.OB) has formed a new subsidiary called X Gen Medical LLC, a Nevis Virgin Island entity. X Gen Medical has been established with the intention of conducting business in the global medical marketplace. Proteonomix plans on utilizing X Gen Medical to serve as a platform for joint ventures with medical facilities worldwide. It is anticipated that new relationships formed with X Gen Medical will create medical facilities capable of not just attracting treatments locally, but also acting as hubs for “medical tourism”. Medical tourism is constantly on the rise and anticipated to continue to grow substantially due to current high costs of health care for certain procedures and improvements in both technology and standards of care in many countries.
Medical tourism is basically the practice of traveling outside your national country to obtain health care. As health care costs in the United States continue to rise, many patients, doctors and insurance plans are looking to more exotic locations for first class service at half the price. In the past, only movie stars and glamorous celebrities would hide in Costa Rica, Panama or France for cosmetic surgery, but that is ancient history now. Everyday folks are realizing that for a fraction of the cost, they can have heart surgery, hip replacement and a host of other procedures done in other countries, do a little sightseeing while they recuperate and come home to have their insurance company foot the bill--for the surgery only of course. And in spite of the associated travel costs, the savings is still substantial.
Proteonomix is a biotechnology company focused on developing therapeutics based upon the use of human cells and their derivatives. Proteoderm, Inc. is a wholly owned subsidiary of Proteonomix that has recently opened its retail web site, Proteoderm.com, and begun accepting pre-orders for its anti-aging line of skin care products.
United Capital Corp. (Amex:AFP) recently reported results for the three and six months ended June 30, 2010. Net income increased 186% in the three months ended June 30, 2010 versus the same period last year. For the current quarter, net income was $3.5 million or $.39 per basic share versus $1.2 million or $.14 per basic share for the same period in 2009. Year-over-year revenue growth for the quarter was significant, rising 46% to $20 million in the three months ended June 30, 2010, resulting in a 57% increase in operating income and a 110% increase in income from continuing operations.
United Capital Corp. engages in the investment and management of real estate properties. AFP also operates hotels, as well as manufactures and sells engineered products.
United Community Banks, Inc. (NASDAQ:UCBI) recently announced the filing of a $200 million shelf registration statement. Types of securities that may be offered and sold from time to time under the registration statement include shares of common stock, preferred stock, preferred stock that may be convertible into or exchangeable for common stock, debt securities, debt securities that may be convertible or exchangeable for common or preferred stock, warrants to purchase common or preferred stock, and any combination thereof.
United Community Banks, Inc. operates as the bank holding company for United Community Bank that provides retail and corporate banking services. UCBI's deposit product line includes interest-bearing and non interest bearing deposits, NOW accounts, money market accounts, checking accounts, savings deposits, time deposits, and brokered deposits.
United Community Financial Corp. (Nasdaq:UCFC), holding company of The Home Savings and Loan Company, announced recently that Douglas M. McKay will retire at the end of 2010 from his positions of President and Chief Executive Officer at United Community and from the boards of United Community and Home Savings. Following his retirement, he will become a Director Emeritus of United Community.
United Community Financial Corp. operates as the holding company for The Home Savings and Loan Company, which provides various banking products and services in Ohio and western Pennsylvania.
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