American CareSource Holdings Signs New Client Agreement With Evolutions Healthcare Systems
06 November 2008 - 1:35PM
Marketwired
American CareSource Holdings, Inc. (NASDAQ: ANCI) announced today
that it has implemented a new client service agreement with
Evolutions Healthcare Systems, Inc., one of the largest
independently owned Preferred Provider Organizations (PPOs)
offering healthcare provider access at carrier level discounts in
Florida. Under the agreement, American CareSource will make
available its full complement of ancillary care services to
Evolutions' clients through a network of ancillary care providers.
American CareSource expects to realize an estimated $4 - $6 million
in additional annual revenue once the agreement is fully
implemented.
Commenting on today's news, David S. Boone, Chief Executive
Officer of American CareSource, stated, "We are delighted to be
working with a quality PPO such as Evolutions. By providing
affordable ancillary healthcare benefits to Evolutions, we will
support their mission of promoting the highest quality healthcare
at the lowest possible costs. Evolutions' strong local presence
will also allow us to gain an important foothold in Florida."
Edward Johnes, Chief Executive Officer of Evolutions Healthcare
Systems, stated, "Our partnership with American CareSource will
provide our clients with enhanced access to high quality ancillary
providers at affordable costs."
About Ancillary Healthcare Services
American CareSource provides ancillary healthcare services
through its network that offers cost effective alternatives to
physician and hospital-based services. This market is estimated at
$574 billion, and has grown to 30% of total national health
expenditures. These providers offer services in over 30 categories,
including laboratories, dialysis centers, free-standing diagnostic
imaging centers, non-hospital surgery centers, as well as durable
medical equipment such as orthotics and prosthetics, and
others.
About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly
traded ancillary care network services company offers a
comprehensive national network of approximately 2,500 ancillary
service providers at over 25,000 sites. The Company's ancillary
network and management provides a complete outsourced solution for
a wide variety of healthcare payors and plan sponsors including
self-insured employers, indemnity insurers, PPOs, HMOs, third party
administrators and both federal and local governments. For
additional information, please visit www.anci-care.com.
About Evolutions Healthcare Systems
Evolutions is Florida's largest and strongest independent PPO
network serving Self-Insured Employers, Insurance Carriers and
Third Party Administrators. Based in New Port Richey, Florida, the
company has been privately held since 1992. Evolutions has built a
solid reputation for robust technology driven solutions for its
Commercial, Health Carrier and Municipal clients. Evolutions is a
strong national network company with a focus on the Florida
self-insured and mid-range carrier markets. For over 15 years, the
company has developed innovative and competitive network solutions
for its clients delivering the best doctors and the best hospitals
at absolutely the best price. For additional information, please
visit www.ehsppo.com.
Safe Harbor Statement Under the Private Securities Litigation
Reform Act of 1995: Any statements that are not historical facts
contained in this release are forward-looking statements. It is
possible that the assumptions made by American CareSource Holdings,
Inc. for purposes of such statements may not materialize. Actual
results may differ materially from those projected or implied in
any forward-looking statements. Such statements may involve further
risks and uncertainties, including but not limited to those
relating to product demand, pricing, market acceptance, the effect
of economic conditions, and intellectual property rights, and the
outcome of competitive products, risks in product development, the
ability to complete transactions, and other risks identified in
this release, and the Securities and Exchange Commission filings of
American CareSource Holdings, Inc.
Contact: Steven J. Armond Chief Financial Officer American
CareSource Holdings, Inc. Tel: 972-308-6847
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