SOURCE: Transax International

August 23, 2006 08:01 ET

Transax International Announces Golden Cross Significantly Increases Rollout

- Company's Second Largest Client to Increase Transaction Volume by 50%; $1.25 Million in Additional Annualized Revenue Expected -

MIAMI, FL -- (MARKET WIRE) -- August 23, 2006 -- Transax International Limited (Transax) (OTCBB: TNSX), a network solutions company for healthcare providers and health insurance companies, today announced that Golden Cross Insurance, Transax's second largest client, has authorized the additional rollout of Medlink's solutions and services.

Under terms of the arrangement, Transax will install approximately up to 1,000 additional Point of Sale (POS) solutions to over 500 providers throughout Brazil. Currently, Golden Cross has over 4,300 Medlink installations, 1,700 of which are POS terminals. Golden Cross' provider base includes 1,193 hospitals, 3,959 clinics, 956 labs, 7,222 doctor's offices and approximately 700 dentists.

Currently, the Company executes approximately 300,000 transactions per month for Golden Cross. The Company anticipates transaction volume will increase by 170,000 per month, with the majority, or 130,000 monthly transactions, to be recognized by the end of 2006. Upon full rollout, Transax will process over 470,000 transactions on a monthly basis. The Company anticipates estimated additional net revenue of $105,000 per month ($1.25 million per year) when fully implemented.

Stephen Walters, President & CEO of Transax, commented, "Golden Cross has been our first client in Brazil since its early joint venture with Cigna Insurance of the USA. Utilizing Medlink's solutions, Golden Cross has recognized and validated the costs savings and benefits we offer." Mr. Walters continued, "With little additional costs, we will be able to achieve the aggressive rollout planned. Furthermore, the increase in transaction volume will support our goal of processing 1 million transactions per month by the end of 2006."

About Transax International Limited

Transax International is an emerging network solutions provider for the healthcare sector. Utilizing its proprietary MedLink™ technology, Transax provides a service similar to a credit card processing for the health insurance and providers industries. A Transax transaction consists of: approving eligibility, authorization, auto-adjudication of the health claim and generating the claim payable files -- provided instantaneously in "real time" -- regardless of method of claim generation.

Transax's solutions have been proven to significantly decrease health insurance claim expenditures and healthcare provider costs. Based in Miami, FL, Transax maintains a major operations office in Rio de Janeiro, Brazil with approximately 35 staff. The Company has contracts in place with major health insurers in Brazil for up to 2,500,000 transactions per month and currently undertakes approximately 700,000 transactions per month, for which Transax receives approximately $0.55 per transaction.

SAFE HARBOR STATEMENT: "THIS NEWS RELEASE MAY INCLUDE FORWARD-LOOKING STATEMENTS WITHIN THE MEANING OF SECTION 27A OF THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, AND SECTION 21E OF THE UNITED STATES SECURITIES AND EXCHANGE ACT OF 1934, AS AMENDED, WITH RESPECT TO ACHIEVING CORPORATE OBJECTIVES, DEVELOPING ADDITIONAL PROJECT INTERESTS, THE COMPANY'S ANALYSIS OF OPPORTUNITIES IN THE ACQUISITION AND DEVELOPMENT OF VARIOUS PROJECT INTERESTS AND CERTAIN OTHER MATTERS. THESE STATEMENTS ARE MADE UNDER THE "SAFE HARBOR" PROVISIONS OF THE UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND INVOLVE RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE IN THE FORWARD-LOOKING STATEMENTS CONTAINED HEREIN."

Contact Information