MARIETTA, Ga., Dec. 2 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. today announced that it has recently been awarded four new disease management accounts. The Company's four new awards of business are with two self-insured employers, a regional health plan and a third party administrator. The Company reported that these new accounts are in addition to the five awards of new business that were announced on October 13, 2004.
Each of the four new accounts is expected to implement services during the first quarter of 2005. The two employers selecting Matria's disease management services include a Fortune 100 company and the US operations of a company traded on the London Stock Exchange. The third party administrator and the regional health plan will provide Matria's disease management programs to their members under management.
Parker H. Petit, Chairman and Chief Executive Officer, stated "Many employers are embracing disease management as the solution to their rising self-insurance medical costs. Employers are also realizing the benefit of utilizing health assessments as a means of creating greater employee awareness of their health status. In two of our recently awarded accounts, the employer will offer Matria's Health Risk Assessment (HRA) product to its covered employees. When completed by the employee and supplied to our trained clinicians, the HRA is another valuable tool in identifying health improvement opportunities and effecting behavioral changes in individuals to take more responsibility for their health condition."
Matria will manage multiple diseases and conditions in each of the new accounts with the Company managing six diseases and conditions in two accounts, five diseases and conditions in one account and four diseases and conditions in the remaining account. Matria's health enhancement programs for the conditions of diabetes, congestive heart failure, coronary artery disease, asthma, chronic obstructive pulmonary disease, cancer, maternity and obesity are managed in the newly awarded business. The new accounts will collectively represent 165,000 additional covered lives under management. Petit added, "We have become much more efficient in the simultaneous implementation of multiple accounts, and we expect these new accounts will be on line in a very timely fashion."
Matria Healthcare is a leading provider of comprehensive disease management programs to health plans and employers. Matria manages the following major chronic diseases and episodic conditions -- diabetes, cardiovascular diseases, respiratory diseases, high-risk obstetrics, cancer, chronic pain and depression. 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/.
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 and the continuing demand for the Company's disease management programs. 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 contracts, failure to convert awards of disease management business into implemented contracts, decreased employer and healthplan interest in disease management programs, 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 From 10-K for the year ended December 31, 2003. 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.
Matria Healthcare, Inc.CONTACT: Stephen M. Mengert, Chief Financial Officer, Matria Healthcare,Inc., +1-770-767-4500
Web site: http://www.matria.com/