NationsHealth to Expand Its 2007 Medicare Part D Service Offerings
31 Mai 2006 - 2:30PM
PR Newswire (US)
SUNRISE, Fla., May 31 /PRNewswire-FirstCall/ -- NationsHealth, Inc.
(Nasdaq: NHRX; NHRXW; NHRXU) today announced that NationsHealth and
CIGNA have amended the agreement under which NationsHealth provides
services to CIGNA for their CIGNATURE Rx Medicare Part D
Prescription Drug Plan. The amended agreement will allow
NationsHealth to leverage its custom built Medicare Part D
infrastructure to provide marketing, enrollment and member services
to additional Medicare Part D insurers, while continuing to provide
ongoing enrollment, fulfillment and member services to CIGNA for
its CIGNATURE Rx program through at least the end of 2009. Under
the new amendment, all services provided to CIGNA related to the
2007 plan year and beyond will be reimbursed under predictable
service fee arrangements. NationsHealth's Chief Executive Officer,
Dr. Glenn M. Parker commented, "We are very pleased with the
additional growth and economic opportunities this amendment
provides our Part D and insurance product sales and service
business segment. We can now leverage the infrastructure we have
built, including more than 175 licensed healthcare insurance
agents, to potentially sell, enroll and then service Medicare Part
D beneficiaries across several plans, without the need for the
large capital investments in marketing and enrollment that we
incurred during the 2006 plan year. We look forward to a successful
2007 plan year." 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/. This press release contains
forward-looking statements about NationsHealth, including
statements regarding market opportunities for Part D and future
financial results, none of which should be construed in any manner
as a guarantee that such results will in fact occur. In addition,
other written or oral statements that constitute forward-looking
statements may be made by us or on our behalf. Forward-looking
statements are statements that are not historical facts, and in
some cases may be identified by the words "anticipate," "project,"
"expect," "plan," "intend," "may," "should," "will," and similar
words or phrases. Such forward-looking statements, based upon the
current beliefs and expectations of NationsHealth's management, are
subject to risks and uncertainties, which could cause actual
results to differ from the forward-looking statements. The
following factors, among others, could cause actual results to
differ from those set forth in the forward-looking statements: our
ability to maintain our existing customer base; our customers'
desire to take advantage of our Part D and specialty pharmacy
services; uncertainty in our costs incurred in administering the
Part D program; changes in Medicare, Medicaid, Tricare, Champus and
any other state or national-based reimbursement program; changing
interpretations of generally accepted accounting principles;
outcomes of government reviews of NationsHealth's business
practices; inquiries and investigations and related litigation;
continued compliance with government regulations; legislation or
regulatory requirements or changes adversely affecting the
businesses in which NationsHealth is engaged; fluctuations in
customer demand; management of rapid growth; our ability to compete
effectively; timing and market acceptance of new products sold by
NationsHealth; general economic conditions; and geopolitical
events, regulatory changes and other risks and uncertainties
described in NationsHealth's Annual Report on Form 10-K for the
year ended December 31, 2005, NationsHealth's Quarterly Report on
Form 10-Q for the quarter ended March 31, 2006 and NationsHealth's
other reports filed with the Securities and Exchange Commission.
The information set forth herein should be read in light of such
risks. NationsHealth cautions investors not to place undue reliance
on the forward-looking statements contained herein. These
statements speak only as of the date of this press release and,
except as required by applicable law, NationsHealth assumes no
obligation to update the information contained herein. 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 of
NationsHealth, Inc., +1-954-903-5018; or Investors: Melody A. Carey
of Rx Communications Group, +1-917-322-2571, for NationsHealth,
Inc. Web site: http://www.nationshealth.com/
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