SOURCE: Palisades Petroleum

August 15, 2011 06:00 ET

Palisades Petroleum (PAPT.PK) Announces Details on New Web Venture

ANN ARBOR, MI--(Marketwire - Aug 15, 2011) - Palisades Petroleum Corporation (PINKSHEETS: PAPT) President and CEO Brad Hayosh states the following: "I am pleased to announce preliminary details on the future direction of Palisades. As I have stated recently, the market has not been receptive to our multifamily business model so we are remaking the company into a diversified web holding company.

"Our first effort in this space is something that could be a real game changer to the entire health care industry in the United States. We have begun work with a web development group in Austin, Texas to bring this concept to light.

"We are planning on bringing transparency and competition to the health care markets. Currently, pricing of services is a great mystery with doctors and nurses unable to answer even basic questions about what care costs. Our model is going to allow for cost sharing data to be aggregated and distributed to allow patients to seek out the most cost effective care solution.

"Additionally, we are going to have a platform that will allow health professionals to compete for patients' business with open and transparent pricing.

"I have long advocated that the lack of competition is a driving force in the ever rising cost of health care and we are addressing a huge need in the market.

"We are looking to launch late this year or early in 2012."

Palisades Petroleum Corporation is traded on the Pinksheets under the symbol PAPT.

Contact Information

  • Contact:

    Bradley J. Hayosh
    Palisades Petroleum
    Email Contact
    734.369.2100 x 503 voice