TRANSAX DEVELOPS NEW VERSION OF WEB SOLUTION

Abstract

Union Dental provides a unique way for unions to provide dental care to their members. The company is currently serving the Communications Workers of America (CWA) and International Brotherhood of Electrical Workers (IBEW). Union Dental receives annual management fees from the dentists in exchange for practicing in areas of exclusivity where CWA and IBEW members use the dentists' services. The company also has contracts with CWA & IBEW local unions to provide a dental network using the members' existing insurance policies. Dentists in the dental network provide services for union members, as well as existing patients, in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full with certain procedures requiring a small out-of- pocket co-payment from the union member patient. Union Dental also owns and operates a 17- year old profitable dental practice.

Union Dental Holdings, Inc. (BULLETIN BOARD: UDHI) has formed a strategic alliance with Transax International Limited (BULLETIN BOARD: TNSX) and released a new version of Medlink Web for release in the United States. The web solution provides connectivity for authorization and adjudication in real time of medical and dental claims to Union Dental's network of healthcare plan providers. It is already in use in Brazil.

Union Dental plans to first test Medlink Web in its Coral Springs office, and then with its dental network of providers servicing CWA members before marketing the product and ancillary software to other U.S. dentists.

Transax developed the new version of the web solution using the Microsoft. NET platform. In early 2005, a Transax subsidiary operating in Brazil became a member of the Microsoft Partnership program. The web solution was initially designed in collaboration with the Microsoft Technical Training Center in Brazil.

The Medlink Web solution offers all of the functionalities available in the company's other capture solutions, such as medical and dental exams, procedures, therapies, visits, laboratory tests and doctor referrals. Medlink Web contains security procedures following international standards, an intrusion detection system and uses SSL security to encrypt transactions. Additional security features are provided at the application level to individual users.

The Medlink Web can be used by any medical or dental provider that has access to the Internet through a standard browser.

George D. Green, president and CEO of UDHI, said, "This new web solution will take the four-step process of verification of patient benefits with the insurance company, submission of claims to the insurance company, adjudication of the claim benefits from the insurance company and then payment of the claims from the insurance company to the doctor, into a single on-line format. Our intent is to make arrangements with financial entities to transfer the insurance payment to the doctor within 24 to 36 hours."

Stephen Walters, president and CEO of Transax International LTD, said, "This unique product has the ability through the company's Medlink connectivity to fully authorize and adjudicate in real time a health or dental insurance claim on behalf of an insurer or health/ dental plan using MedLink Web from any location in the world. The English language version of the solution is currently being completed and will be presented to potential clients from other countries that have expressed interest in the solution."

About Union Dental

Union Dental provides a unique way for unions to provide dental care to their members. The company is currently serving the Communications Workers of America (CWA) and International Brotherhood of Electrical Workers (IBEW). Union Dental receives annual management fees from the dentists in exchange for practicing in areas of exclusivity where CWA and IBEW members use the dentists' services. The company also has contracts with CWA & IBEW local unions to provide a dental network using the members' existing insurance policies. Dentists in the dental network provide services for union members, as well as existing patients, in exchange for an annual management fee. The network of dentists accepts payment from union insurance plans for services rendered as payment in full with certain procedures requiring a small out-of- pocket co-payment from the union member patient. Union Dental also owns and operates a 17- year old profitable dental practice.

Union Dental can be found on the World Wide Web at http:// www.uniondental.com/.

For more information, call 305/451-1888.