MARIETTA, Ga., April 1 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. announced today the completion of the purchase of the business of Miavita LLC, a leading national provider of on-line health and wellness solutions. The transaction closed today for a cash price of approximately $5 million with potential additional amounts to be paid under earnout agreements.
With the transaction, Matria has expanded its wellness offerings and added the proprietary suite of interactive Miavita Healthy Living Programs to its Total Health Enhancement Solution. “Now Matria’s disease management clients can include for their employees and healthplan members, customized programs that address stress management, healthy weight loss and long-term weight management, nutrition and diet, exercises for improving fitness, science-based lifestyle changes, strategies for managing the risk factors that lead to chronic diseases and other preventable conditions, healthy aging, cancer fighting, healthy heart, diabetes fighting, smoking cessation and customized programs based on individual goals and interests,” stated Parker H. Petit, Matria’s Chairman and Chief Executive Officer.
To provide a “one-stop-shop” continuum of care to its clients, Matria will combine its clinical management capabilities and sophisticated health risk assessment tool with Miavita’s web-based programs. Matria will also integrate Miavita’s programs with the Company’s TRAX(TM) technology platform to enable the measurement of outcomes across the entire care continuum. “Combining Miavita’s Healthy Living programs with Matria’s health enhancement programs expands our capabilities to serve our clients in their quest to reduce the escalating costs of healthcare,” added Petit.
ABOUT MIAVITA
Miavita’s wellness programs empower individuals with the targeted interactive, personalized tools they need to make decisions and adopt new behaviors that reduce the risk of disease and other preventable conditions. Through the company’s Healthy Living Programs, Miavita helps employers reduce health care costs by engaging employees and their families in healthy and nutritious new lifestyles.
ABOUT MATRIA HEALTHCARE
Matria Healthcare is the leading provider of comprehensive disease management programs to health plans and employers. Matria manages the chronic disease and episodic conditions representing the greatest cost to the healthcare system ... diabetes, cardiovascular diseases, respiratory disorders, high-risk pregnancy, 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 online 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 to integrate Miavita with Matria’s programs and technology and the impact of providing a one-stop-shop continuum of care, enabling the measurement of outcomes across the care continuum and creating greater opportunities for Matria to help clients reduce escalating healthcare costs. These statements are based on current information and belief, and are not guarantees of future performance. Matria and Miavita cannot and do not guarantee or predict the outcomes of any participant in the Company’s programs or services. Among the important factors that could cause actual results to differ materially from those indicated by such forward- looking statements include the failure of the integration of Miavita into Matria to provide a one-stop-shop continuum of care, enable the measurement of outcomes across the care continuum and create greater opportunities for Matria to help clients reduce escalating healthcare costs, failure of Miavita’s internet capabilities to continue to deliver strong client support and high rates of member use and satisfaction, failure of Matria’s technology to continue to deliver compelling returns on investment and outcomes improvements to its clients, 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 or demand for the company’s 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 Form 10-K for the year ended December 31, 2004. 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/