MARIETTA, Ga., Oct. 11 /PRNewswire-FirstCall/ -- Matria Healthcare, Inc. announced that it has been awarded six new disease management accounts. The Company also announced that four of its current disease management clients have added additional Matria programs and services or expanded the covered lives under the Company's management.
Matria's six new and four expanded awards of business are with self-insured employers and are in addition to the 30 awards of new or expanded business previously announced this year.
The new employers selecting Matria's disease management services include a Fortune 100 company, a Fortune 500 company, the U.S. operations of a Japanese public company with equivalent annual revenues in excess of $5 billion, the U.S. division of a Dutch public company with over $15 billion in equivalent annual revenues, a private company with over $2 billion in annual revenues, and a not-for profit hospital system. The four existing Matria accounts include two Fortune 100 companies, a Fortune 500 company and a private company with annual revenues in excess of approximately $6 billion.
The Company reported that, collectively, the new accounts and the additional employees and dependants from the expanded accounts will represent approximately 200,000 additional covered lives. Matria expects to implement services for the six new accounts during the fourth quarter of 2005 and the first and second quarters of 2006. The four expanded accounts will be implemented during the fourth quarter of 2005 and the first quarter of 2006.
Parker H. "Pete" Petit, Chairman and Chief Executive Officer, said, "As we projected, our 2005 fourth quarter and next year's first quarter will be very active with numerous accounts being implemented. It is quite gratifying to witness the sophistication and coordination of our informatics, clinical services and account activation processes as they simultaneously implement multiple accounts into our programs and services. Our data ingest capabilities, TRAX(TM) technology and clinical expertise allow us to integrate multiple clients, each with diverse demographics and customized programs, in a seamless and extremely efficient manner."
One of the existing accounts expanding services is adding Matria's informatics consulting services as well as broadening the covered lives currently eligible for Matria's programs. Petit added, "This Fortune 100 company now utilizes our diabetes, asthma, COPD, congestive heart failure, coronary artery disease, cancer, depression, case management, care advocate, 24/7 nurse triage, wellness and health risk assessment programs and services. We are extremely pleased to see more and more employers offering our care continuum, ranging from wellness to disease management to case management, and our informatics services, to improve the health of their employees and their dependents."
Another existing account is adding the Company's 24/7 nurse triage services, health risk assessment and care advocate program to the diabetes, asthma, depression and coronary artery disease programs currently managed by Matria. Each of the other two existing accounts has five diseases and conditions under management by Matria and are expanding the covered lives accessing the Company's programs.
In each of the Company's six new accounts, Matria has been awarded the management of at least five and as many as nine diseases and conditions. "It is very evident that customers have embraced the concept of having a single-source provider deliver their full complement of wellness and disease management programs. This initiative also provides additional opportunities for revenue growth from our existing customers." Petit concluded.
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.
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 in a seamless and efficient manner, the continuing demand for the Company's full care continuum of wellness, disease management and case management programs, the trend among employers to embrace a single source provider, 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 and existing 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 HealthcareCONTACT: Stephen M. Mengert, Chief Financial Officer, +1-770-767-4500
Web site: http://www.matria.com/