DALLAS, May 10, 2010 (BUSINESS WIRE) -- American CareSource Holdings, Inc.
(Nasdaq: ANCI), the nation's leading ancillary health care system, announced today that it has signed a new client service agreement with Cincinnati-based S&S HealthCare Strategies (S&S), a Third Party Administrator representing over 40,000 covered lives.
Commenting on today's news, David S. Boone, Chief Executive Officer of American CareSource (ACS), noted, "We are pleased to welcome S&S as a new client and look forward to providing our ever increasing range of high quality, affordable, ancillary healthcare services to this top-notch organization. Our relationship with S&S, a national Third Party Administrator (TPA) serving a variety of self-insured benefit plans and fully insured group health products, represents the attainment of another key milestone in our strategy to broaden our reach within the TPA market. We strongly believe that our unwavering dedication to customer satisfaction, coupled with comprehensive services and an advantageous cost structure, will greatly enhance S&S' current service offerings." Gail Schweitzer, President and Chief Executive Officer of S&S, stated, "We are equally pleased to have solidified this important partnership with ACS. As a full-service TPA with the flexibility to service an account centrally or establish support services locally, we are dedicated to offering our clientele the broadest range of competitively-priced, value-added services, and our agreement with ACS will help to ensure that we continue to live up to our reputation." About American CareSource Holdings, Inc.
American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of over 4,100 ancillary service providers at more than 33,000 sites through its subsidiary, Ancillary Care Services. Ancillary Care Services provides ancillary health care services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion and has grown to 30% of total national health expenditures. These providers offer services in 31 categories including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics and others.
The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.
About S&S HealthCare Strategies, Ltd.
Founded in 1994 by the principals of International Managed Care Strategies, Gail Schweitzer and Richard Rostowsky, S&S HealthCare Strategies is a Third Party Administrator specializing in managed care administration.
S&S provides administrative services for a variety of self-insured benefit plans and fully insured group health products. Their current client base represents self-funded plan sponsors, provider-sponsored networks, preferred provider organizations, Taft-Hartley funds, third party administrators and insurance companies. S&S' home office is located in Cincinnati, Ohio, with a remote claims office in Hartford, Connecticut, and Raleigh, North Carolina. For more information about S&S HealthCare Strategies visit their website at www.ss-healthcare.com.
ANCI-G Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.
SOURCE: American CareSource Holdings, Inc.
CONTACT: American CareSource Holdings, Inc. Angela Cloud, Marketing Manager, 972-308-6934 or Investor Relations: The Cockrell Group Rich Cockrell, 404-942-3369 firstname.lastname@example.org Copyright Business Wire 2010 -0- KEYWORD: United States
Texas INDUSTRY KEYWORD: Health
Managed Care SUBJECT CODE: Contract/Agreement