("PDC" or the
"Company") (OTC: PDCN) has signed a merger agreement with Virtuoso MedSpa,
Inc.com, medical spas are the fastest growing segment
of the medical market.05 per diluted share, from $747,000, or $0.
Commenting on the first quarter results, Scott T."
"Our results so far this year show that we are successfully
executing our growth strategy," added Mr.
These risks and uncertainties relate to our business , our industry and
our common stock and include: our ability to acquire, develop or
manage a sufficient number of profitable surgical facilities,
including facilities that are not exclusively dedicated to eye-related
procedures; reduced prices and reimbursement rates for surgical
procedures; our ability to maintain successful relationships with the
physicians who use our surgical facilities; the application of
existing or proposed government regulations, or the adoption of new
laws and regulations, that could limit our business operations,
require us to incur significant expenditures or limit our ability to
relocate our facilities if necessary; the continued acceptance of
laser vision correction and other refractive surgical procedures; and
demand for elective surgical procedures generally.

surgeries fee

On a same-facility basis, surgical facilities net revenue
increased 7% over the prior year first quarter.

medicredit surgeries

Innovative Industries, Inc., a company that offers non-invasive medical cosmetic skin care in a
luxurious, relaxing spa environment.com.

finances exclusively

prnewswire.05

For the first quarter ended March 31, 2005, total net revenue was
$18,501,000, up 30% from $14,225,000 in the prior year first quarter. For those
who cannot listen to the live broadcast, a replay will be available at
these sites through June 3, 2005. These statements are
based on management's current expectations and are subject to risks
and uncertainties, which could cause our actual results to differ
materially from those expressed or implied in this press release. Except as required by the federal
securities laws, NovaMed undertakes no obligation to publicly update
or revise any forward-looking statements , whether as a result of new
information, future events, changing circumstances or any other reason
after the date of this press release.

cosmetic unicorn

This press release contains forward-looking
statements that relate to possible future events.03
Earnings from discontinued operations 0.

funding finance

Walter G.

fee pfs

Of those
12 million, more than eighty percent were non-surgical.
First quarter continuing operations highlights were:

Surgical facilities net revenue increased 46% to $13,638,000

Total net revenue increased 30% to $18,501,000

Net income increased 65% to $1,232,000

Earnings per share increased 67% to $0. The first quarter results for 2004
included a pre-tax gain on the sale of minority interests of $190,000.01 0.

fee finance

06
============ ============

Shares used in computing diluted earnings
per share 23,763 23,249
============ ============

Selected Operating Data:
--------------------- ---

ASCs operated at end of period 26 17
Procedures performed during the period 17,621 11,625
Cash flow provided by operating activities $2,094 $505
Cash flow (used in) provided by investing
activities $(8,395) $595
Cash flow provided by financing activities $7,035 $211


----------------------------------------------------------------------
March 31, December 31,
Balance Sheet Data: 2005 2004
------------------- ------------ ------------

Cash and cash equivalents $1,255 $500
Accounts receivable, net 11,542 10,237
Working capital 6,536 5,620
Total assets 86,383 76,987
Long-term debt 12,184 5,314
Minority interest 8,696 8,516
Shareholders' equity 55,991 54,621

medicredit surgeries

Such statements are subject to risks and uncertainties
and other factors as may be discussed from time to time in the Company's
public filings with the U. Securities and Exchange Commission
("Commission"), press releases and verbal statements that may be made by
our officers, directors or employees acting on our behalf which could cause
actual results to differ materially from those discussed in the forward
looking statements and from historical results of operations.
Operating income in the first quarter of 2005 increased 95% to
$3,510,000, or 19 % of net revenue, from $1,799,000, or 13% of net
revenue, in the same period last year.03
------------ ------------
Net earnings per diluted share $0.

exclusively pfs

Now a
new study presented at the American Society For Laser Medicine And Surgery
gave a glimpse of the next generation of skin tightening treatment - with
Candela's GentleYAG laser--which is already commonly used to permanently
remove unwanted hair, leg and facial veins.

"Specific terms of the merger agreement will be forthcoming," states Mr.

pfs surgery

Now, the hottest trend
"skin tightening" uses lasers to heat the underlying layers of skin and forms
new collagen.D.
Net revenue from surgical facilities was $13,638,000, up 46% from
$9,349,000 in the prior year first quarter.

pfs finances

New Study Shows Laser Technology May Be The Most Effective Way To Tighten Skin

NEW YORK,

ADDITIONAL RESOURCES: Video, hard copy requests, contact information and
more available at http://www.

NovaMed Reports 65% Increase in Net Income from Continuing Operations

In
addition , during April NovaMed sold a 26% minority interest in its
Columbus, Georgia surgery center to eleven doctors and a 29% minority
interest in its Richmond, Virginia surgery center to two doctors."
NovaMed acquires, develops and operates ambulatory surgery centers
in partnership with physicians.

elective finance

PRESS RELEASE PDC Innovative Industries Signs Merger Agreement With Virtuoso MedSpa

"

According to www.medspas . The completion of this
merger will place the company on the leading-edge of a rapidly developing
industry the International Spa Association has touted as the 'medical
environment of the future . Forward-looking statements are not guarantees of
future performance. Macomber.
Condensed Consolidated Statement of Operations
(Dollar amounts in thousands, except per share data; unaudited )


Three months ended
March 31,
------- -------------------
2005 2004
------------ ------------
Net revenue:
Surgical facilities $13,638 $9,349
Product sales and other 4 ,863 4,876
------------ ------------
Total net revenue 18,501 14,225
------------ ------------

Operating expenses:
Salaries, wages and benefits 6,052 5,078
Cost of sales and medical supplies 4,478 3,518
Selling, general and administrative 3,878 3,154
Depreciation and amortization 583 676
------------ ------------
Total operating expenses 14,991 12,426
------------ ------------

Operating income 3,510 1,799

Interest (income) expense, net 102 (4)
Minority interest 1,532 753
Earnings of nonconsolidated affiliate (61) -
Gain on sale of minority interests - (190)
Other (income) expense, net (117) (6)
------------ ------------
Income before income taxes 2,054 1,246
Income tax provision 822 499
------------ -- ----------

Net income from continuing operations 1,232 747
Net income from discontinued operations 122 594
------------ ------------

Net income $1,354 $1,341
============ ============

Earnings per common share - diluted:
Earnings from continuing operations $0.

exclusively surgery

These days, wrinkles
and sagging skin doesn't mean going under the knife.03 per diluted share,
in the prior year first quarter.

pfs correction

The pending merger with PDC is
an integral part of our strategy to open a substantial number of medical
spas throughout the United States market over the next five years. The American Society for Aesthetic Plastic Surgery
indicates that demand for non-invasive medical aesthetic services has
increased more than 450% throughout the past four years. Net income from continuing
operations in the first quarter of 2005 increased 65% to $1,232,000,
or $0.
NovaMed measures same-facility results using only those facilities
that it has owned and operated for the entire current and prior year
periods reported.05 $0.

patient aesthetic

The result? Smooth, younger-looking skin without having to go
under the knife like a traditional facelift. The process is often painful,
expensive and has side effects resulting in areas of skin depression.
P. Factors that might cause such a difference include,
without limitation: the uncertainty of the Company's ability to meet
capital needs and as further set forth in our public filings filed with the
Commission and our press releases. Macomber ,
Executive Vice President and Chief Financial Officer of NovaMed, said,
"We are pleased with our operating results in the first quarter and
our significant year-to-year growth including our solid same-facility
revenue growth of 7%. Readers should not place undue reliance
on any forward-looking statements.

NovaMed, Inc.

surgery financing

Current treatments for skin tightening on the market today, including the
use of radio frequency have some drawbacks. NovaMed entered into a definitive
agreement in April to purchase a surgery center in Denver, Colorado
and anticipates closing this transaction later this month.m.

aesthetic enhance

C. "Virtuoso
Medical Spa's offer non-intrusive skin care treatments, using
state-of-the-art laser technology, that include procedures such as skin
rejuvenation , hair-removal, microdermabrasion, photomodulation, Botox,
Restylane, and live stem cell skin therapy .

Business Editors

CHICAGO----NovaMed, Inc. "We continue to
pursue attractive surgery center acquisition opportunities and we
expect to announce additional acquisitions this year. We also remain
focused on producing same-facility growth by attracting new physicians
to our surgery centers.

lending exclusively

VIDEO PROVIDED BY: Candela Corporation

NovaMed's
executive offices are located in Chicago, Illinois.
As previously announced, NovaMed will hold a conference call to
discuss this release at 10:00 a. Central Time on Wednesday, May 4,
2005. Investors can listen to the call over the Internet by visiting
www.

lending finance

"Driven by the personal image demands of Baby Boomers and the disposable
income of Gen X's, the medical spa industry has grown from obscurity to
yearly revenues in excess of $10 billion in just the last 7 years," states
Dr. This revenue increase was
primarily due to a 52% increase in total surgical procedures performed
in the first quarter of 2005 as compared to the same period in the
prior year.

finance procedures

Smith, CEO of PDC.S. NovaMed currently has ownership
interests in 26 surgery centers located in 14 states. Readers are
encouraged to review a more complete discussion of the factors
affecting NovaMed's business and prospects in its filings with the
Securities and Exchange Commission, including the company's 2004 Form
10-K filed on March 31, 2005.

medicredit funding

, president of Virtuoso MedSpa, Inc. In addition
to statements, which explicitly describe such risks and uncertainties,
statements with the terms "believes," "belief," "expects, " "plans,"
"anticipates" and similar statements should be considered uncertain and
forward-looking . (Nasdaq:NOVA)
today reported results for the first quarter ended March 31, 2005.

lending laser

com/broadcast /21377/press.shtml

STORY SUMMARY:
Nearly 12 million cosmetic procedures were performed last year. Product sales and
other revenue was $4,863,000 in the first quarter of 2005, down
slightly compared to the prior year first quarter.
During the first quarter of 2005, NovaMed purchased a surgery
center in Berkley, Michigan. Our six percentage point increase in our
operating income margin contributing to a 95% increase in operating
income shows the positive leverage we can realize from our revenue
growth.

fee surgical

New Skin Tightening Procedure Fights Wrinkles and Provides Younger Looking Skin Without Surgery

Paul R. "Everyone is working as quickly as possible
towards a projected May 2006 closing of the merger.06 $0.

Listings of lending institutions offering loans for medical treatment or surgical procedures.

elective enhance

Mayfield Sr.'"

This press release contains forward-looking statements, which are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.novamed.

plastic patient

---

- - kjjkjk

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