GSI Securitization Purchases Accounts Receivable From Large Medical Group

GSI Securitization (OTC Pink Sheets: GSIEF) along with its partner, Silar Advisors, announced Friday that it has received an accounts receivable portfolio for purchase exceeding $100 million. This is the first of the four-part process in a previously-announced healthcare portfolio purchase plan.

In addition, as previously announced, GSI Securitization is continuing its negotiations with the management of Comprehensive HealthCare Solutions (OTC: CMHS) to move to the NASDAQ bulletin board as a fully reporting company.  Comprehensive HealthCare Solutions will own all of the outstanding shares of GSI under a pending merger agreement.

GSI Securitization is in continuing negotiations to secure other contracts with several public and private hospitals and health care service centers.  Per specific restraints by regulatory protocol, the names of the specific hospitals cannot be announced. GSI projects that the potential patient accounts receivable, which are in the final stage of contract negotiations, totaled over $200 million in 2006, with additional receivables for the current year.

GSI previously announced that it had signed a definitive agreement with Silar Advisors, LP to form a strategic alliance for the purpose of financing medical receivable acquisitions. As a result of the financing agreement, GSI is well-positioned to acquire large volumes of medical receivables. Both GSI and Silar have broad-based experience in receivable valuations, acquisitions, financing, servicing, collections and other investment opportunities.