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PACEL Corp. - Reduces Corporate Debt, Plans for Future
Wednesday September 7, 1:17 pm ET
CHARLOTTE, N.C., Sept. 7 /PRNewswire-FirstCall/ -- PACEL Corp. (OTC Bulletin Board: PCCR - News) -- Since July 1st PACEL has reduced its corporate debt by over $800,000. Reducing this debt combined with its equity finance sources waiving existing financing fees and interest allows PACEL management to focus on the company's growth and future.
PACEL has increased its sales force, opened new markets and is bringing long-term projects, which result in new business opportunities on line. PACEL announced earlier that the National Association of Subacute and Post Acute Care had appointed PACEL as its preferred provider for Human Resource Outsourcing solutions. Due to the implementation of its new human resource information system and the expansion of PACEL's ability to deliver insurance solutions, PACEL has begun actively soliciting elder care and medical facilities.
In the mid-Atlantic region and in Texas, PACEL's operational footprint, there are over 3,500 elder care facilities. PACEL estimates each facility has potential revenue of $30,000 to $70,000 per year. With a 5% market penetration PACEL can generate $5 to $8 million in new revenue. PACEL is aggressively marketing to these facilities and anticipates significant growth over the next 2 quarters.
"Reducing corporate debt is a major short-term goal," stated Gary Musselman, President of PACEL, "Opening new markets and expanding our revenue base sets our future. I believe our future is to be the premier human resource provider to the elder care and medical community."