MARIETTA, Ga., Feb. 21 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. announced today that it has been awarded ten new disease management accounts. The Company also announced that six of its current health plan and Third Party Administrator (TPA) accounts have expanded the Matria health enhancement programs and services offered to their clients or have added new clients to their roster of clients receiving Matria services. In addition, one of the Company’s current large self-insured employer clients has successfully completed a pilot program for one of Matria’s disease management programs, and will now be offering that program to its entire population of employees and dependents.
Matria’s ten new awards of business are with seven self-insured employers, one health plan and two TPAs. One of the existing health plan clients expanding its Matria health enhancement programs is a national health plan that is adding the Company’s HRA and Wellness/Lifestyle Management programs to 28 of its Administrative Services Only (ASO) self-insured employer clients. Each of the 28 clients of this health plan already participates in Matria’s programs for the management of diabetes, coronary artery disease (CAD), congestive heart failure (CHF), chronic obstructive pulmonary disease (COPD) and asthma. Another of the existing health plan accounts is adding the Company’s 24/7 nurse triage services to the current disease management programs being provided to three of its ASO self-insured employer clients. In addition, this health plan is adding four Matria disease management programs to its offering to clients. Another existing health plan account is also a nationwide plan and is adding one new ASO self-insured employer to its client base participating in Matria’s health enhancement programs.
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 October 11, 2005. On January 19, 2006, Matria acquired CorSolutions Medical, Inc., a leading provider of disease management and health and productivity services to employers, health plans and government-sponsored healthcare programs. With the integration of CorSolutions and Matria, the awards of business included in today’s announcement also include the new and expanded accounts awarded to CorSolutions. For consistency of reporting, the Company has only included the new and expanded accounts awarded to CorSolutions since October 11, 2005.
Parker H. Petit, Chairman and CEO, said, “We are extremely pleased to be assisting our health plan partners not only in offering added valuable health enhancement services to their fully insured participants, but also in broadening the health improvement impact that they can provide to their many ASO clients. It is especially gratifying to see the significant increase in demand for programs that address wellness and healthy living. When these programs and services are available to participants along with programs for the management of chronic and high-cost episodic conditions, health plans and employers have the tools to manage the full continuum of care. With these programs in place and managed by a provider with Matria’s data and technology sophistication and clinical expertise, the improved outcomes and positive health impact can be extremely compelling.”
Six of the ten new accounts are offering the Company’s wellness program to improve the health awareness, lifestyle choices and productivity of their participants, and five of the ten are utilizing the Company’s Health Risk Assessment (HRA) tool. Petit added, “The HRA is completed by the participant and becomes another valuable tool for our clinicians to use in identifying health improvement opportunities for appropriate participants and initiating the process of effecting the behavioral change in the participant and coaching them in adopting healthier lifestyle practices.”
Matria expects to implement services for all but one of the new and expanded accounts during the first and second quarters of 2006. The one other account is expected to be implemented early in the third quarter 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 Company’s ability to implement multiple accounts into its programs and services, the continuing demand for the Company’s wellness, disease management and case 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, disease management and case 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, 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 of Matria Healthcare,Inc., +1-770-767-4500
Web site: http://www.matria.com/