MARIETTA, Ga., April 12 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. announced today that it has been awarded twelve new disease management accounts. The Company also announced that three of its current health plan accounts have collectively added more than 90 new clients who will receive Matria services, two existing employer accounts are adding additional Matria health enhancement programs, and one national health plan is offering Matria's oncology program. In addition, two of the Company's current clients have agreed to renew their health enhancement services agreements with Matria.
Matria's twelve new awards of business are with seven self-insured employers and five health plans. Six of the twelve new awards of business include disease management programs for multiple conditions. Some of these chronic and episodic conditions to be managed by Matria include diabetes, congestive heart failure, coronary artery disease, asthma, chronic obstructive pulmonary disease, high-risk pregnancy, low-back pain and musculoskeletal pain. In addition, five of the twelve new accounts are offering the Company's wellness programs to improve the health awareness, lifestyle choices and productivity of their participants, and six are utilizing proprietary Matria Health Risk Assessments (HRA).
Three existing health plan accounts are collectively adding the Company's health enhancement services to more than 90 of their Administrative Services Only (ASO) self-insured employer clients. These existing accounts already offer multiple Matria disease management programs and services to their ASO clients. Another of the existing health plan accounts is adding the Company's oncology programs for its managed Medicare members. In addition, one existing self-insured employer account is adding Matria's 24/7 triage services and another existing self-insured employer client is adding the Company's wellcare and obesity programs for their employees and dependents.
The Company reported that the new and expanded awards of business announced today are in addition to the new business awards last announced by Matria on February 21, 2006.
Parker H. Petit, Chairman and CEO, said, "We continue to be pleased with the growing demand for programs that address wellness and healthy living. Employers and health plans are realizing that the combination of wellness programs along with programs for the management of chronic and high-cost episodic conditions, result in significantly improved health outcomes and reduced health care costs. Health plans and employers want to align with a fully integrated provider that has the tools to manage the entire continuum of care."
Matria expects to implement services for the new and expanded accounts primarily during the second and third quarters of 2006.
ABOUT MATRIA HEALTHCARE
Matria Healthcare is a leading provider of comprehensive health enhancement programs to health plans and employers. Matria manages major chronic diseases and episodic conditions including diabetes, congestive heart failure, coronary artery disease, asthma, chronic obstructive pulmonary disease, high-risk obstetrics, cancer, chronic pain, depression, end-stage renal disease, and obesity; delivers programs that address wellness, healthy living, productivity improvement, and patient advocacy; and provides case management of acute and catastrophic conditions. Headquartered in Marietta, Georgia, Matria has more than 40 offices in the United States and internationally. More information about Matria can be found on line at http://www.matria.com/.
SAFE HARBOR STATEMENT
This press release contains forward-looking statements. Such statements include but are not limited to the ability of the Company to convert awards of business into implemented contracts, the timing of contract implementation, the continuing demand for the Company's wellness and disease management programs, and the trend among existing accounts to expand their use of the Company's programs and services. These statements are based on current information and belief, and are not guarantees of future performance. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include delays or problems in implementation of new disease management and wellness contracts, failure to convert awards of disease management business into implemented contracts, delays or problems in contract implementation, decreased employer and health plan interest in or demand for the Company's wellness and disease management programs, failure of existing accounts to expand their use of the Company's programs and services, developments in the healthcare industry, third-party actions over which Matria does not have control, regulatory requirements applicable to Matria's business and the risk factors detailed from time to time in Matria's periodic reports and registration statements filed with the Securities and Exchange Commission, including Matria's Annual Report on Form 10-K for the year ended December 31, 2005. By making these forward-looking statements, Matria does not undertake to update them in any manner except as may be required by Matria's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.
Contact:
Jeff Hinton
Chief Financial Officer
770/767-4500
