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MAGNET SELECTS SOLUTRAN AS PREFERRED PAYMENT PROCESSING VENDOR

MINNEAPOLIS – (November 17, 2004) - Mid-Atlantic Group Network of Shared Services, Inc. (MAGNET), one of the largest healthcare-based shared service organizations in the country, chose Solutran® as a preferred payment processing vendor. Under terms of the agreement, Solutran will handle account receivable conversion (ARC), back office conversion (BOC), returned check consolidation (RCC), and electronic check re-presentment (RCK) for hospitals and other medical centers served by MAGNET. 

Global Services USA (GSU) is a strategic partner of Solutran. GSU is an
added value reseller that offer mission critical business solutions, as well as healthcare related thought leadership for hospitals across the U.S. GSU’s consulting team will lead the way in providing the necessary background information & education regarding Solutran’s value proposition.

 “We needed a company with unparalleled experience in providing payment processing services,” said Steven R. Duke, MAGNET Vice President. “Solutran’s combination of industry leadership, sophisticated service offerings, and competitive pricing made them a clear choice to be added as a MAGNET preferred vendor.”

About MAGNET

Mid-Atlantic Group Network of Shared Services, Inc. (MAGNET) was founded in 1979 during the Middle Atlantic Health Congress to develop contracts on behalf of is members in the niche market of capital equipment. Today, MAGNET is one of the oldest, largest, and most experienced shared service organizations in the country and serves approximately 12,000 providers, including hospitals, alternate care facilities, and physician practices and clinics. For more information, visit MAGNET online at www.magnetgroup.com.

About Solutran

Since 1984, Solutran has provided a full range of treasury management solutions to businesses that process a high-volume of consumer payment transactions. Solutran’s customized solutions span the payment spectrum, from paper check processing and conversion to fully electronic payment processing. Services offered include depository processing, accounts receivable conversion, controlled disbursement services and returned check management and conversion services. Headquartered in Minneapolis, Solutran has 85 employees at its corporate office and maintains relationships with ten affiliate processing centers across the United States and Canada. For more information, visit Solutran’s website at www.solutran.com or call 888.SOLUTRAN (888.765.8872).

About Global Services USA

Global Services USA’s President is the former Global Manager of Pricewaterhouse Coopers, Financial Services. With extensive experience in providing the best business solutions for today’s corporations, GSU is well versed in all aspects of Solutran’s best practices, products & services.

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