NationsHealth Continues Cost Containment and Efficiency Initiatives
26 Juni 2006 - 4:00PM
PR Newswire (US)
SUNRISE, Fla., June 26 /PRNewswire-FirstCall/ -- NationsHealth,
Inc. (NASDAQ:NHRXNASDAQ:NHRXWNASDAQ:NHRXU) announced today that its
ongoing efforts to continually improve operational effectiveness
have resulted in further streamlining the operations of both its
Insurance Services and Pharmacy Products business lines. The
Insurance Products business currently provides customer service and
marketing and enrollment services to CIGNA HealthCare for its
CIGNATURE Rx Medicare prescription drug plan. As a result of
management's implementation of operational improvements and
business process initiatives, along with the end of the CMS
Prescription Drug Plan open enrollment period, NationsHealth was
able to significantly reduce the number of employees serving this
business line. These actions are expected to immediately decrease
operating expenses for this business line by approximately $1
million per year. The Pharmacy Products business currently provides
diabetes testing supplies to over 114,000 Medicare patients. As a
direct result of the implementation of management initiatives aimed
at operational and process improvements, NationsHealth was also
able to significantly reduce the number of employees serving this
business line. These actions are expected to immediately decrease
operating costs for this business line by approximately $1 million
per year. "These reductions are just another step in our
disciplined approach to move the company towards profitability,"
stated Robert Tremain, Chief Operating Officer. "Combined, we
anticipate these reductions will decrease our annualized operating
expenses by more than $2 million. More importantly, even without
the additional cost containment and operational initiatives we are
planning, these actions may allow us to grow and add additional
product offerings with little, if any, additional general and
administrative expenses." About NationsHealth, Inc. NationsHealth
improves the delivery of healthcare to Medicare and managed care
beneficiaries by providing medical products and prescription
related services. NationsHealth has a strategic alliance with CIGNA
to offer their Medicare Part D prescription drug plans nationally.
Prior to launching its Medicare Part D business, NationsHealth
offered free discount prescription cards, accepted at over 50,000
pharmacies nationwide, to approximately 2.9 million cardholders. In
addition, NationsHealth provides home delivery of diabetes and
ostomy medical products to 102,000 patients. NationsHealth is also
the provider of diabetes supplies to 12,000 Medicare beneficiaries
at over 1,100 Kmart pharmacies. For more information please visit
http://www.nationshealth.com/. At NationsHealth: At Rx
Communications Group: Timothy Fairbanks, CFO Melody A. Carey
(investors) 954-903-5018 917-322-2571 DATASOURCE: NationsHealth,
Inc. CONTACT: Timothy Fairbanks, CFO, NationsHealth,
+1-954-903-5018; or Melody A. Carey (investors), Rx Communications
Group, +1-917-322-2571 Web site: http://www.nationshealth.com/
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