Conmed Healthcare Management, Inc. Enters Tenth State with Marion County, Kentucky Contract
20 Marzo 2012 - 12:30PM
Business Wire
Conmed Healthcare Management, Inc. (NYSE Amex: CONM) has signed
a full-service agreement with Marion County, Kentucky, to provide
correctional healthcare services for the Marion County Detention
Center. The contract is effective April 1, 2012, and is expected to
generate revenues for Conmed of approximately $0.3 million during
the initial 12-month term. The contract has the option for
additional one-year renewals.
The contract includes: physicians, mid-level providers, nurses,
laboratory, x-ray, pharmacy, emergency department and
hospitalization (with aggregate capitation). The average inmate
population of the facility is approximately 300.
“We are very pleased to gain entry to Kentucky, our tenth state,
through the Marion County agreement, and look forward to providing
cost-effective, compliant healthcare services to Marion County
Detention Center detainees at the same high quality that earned the
facility its American Correctional Association certification in
2011,” said Richard Turner, Chairman and Chief Executive Officer.
“We continue to execute our business model, offering quality
correctional medical and mental health services, while driving
growth organically, both in areas we currently serve and new
areas.”
Marion County is located in Kentucky's Bluegrass Region,
equidistant from Louisville, Lexington, and Frankfort. Of its
approximately 17,000 residents, 6,000 are centered in historic
Lebanon, the county seat. In 2011, the Marion County Detention
Center became the first and only detention center in Kentucky to
receive American Correctional Association (ACA) certification.
About Conmed
Conmed has provided correctional healthcare services since 1984,
beginning in the State of Maryland, and currently serves county and
municipal correctional facilities in ten states: Arizona, Kansas,
Kentucky, Maryland, New Jersey, Oregon, Tennessee, Texas, Virginia
and Washington. For more information, visit us at
www.conmedinc.com.
Forward Looking Statements
This press release may contain, among other things, certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including, without
limitation, (i) statements with respect to the Company’s plans,
objectives, expectations and intentions; and (ii) other statements
that are not historical facts including statements which may be
identified by words such as "may," "could," "would," "should,"
"believes," "expects," "anticipates," "estimates," "intends,"
"plans," "projects," "potentially," or similar expressions. These
statements are based upon the current beliefs and expectations of
the Company's management, and are subject to significant risks and
uncertainties. Actual results may differ from those set forth in
the forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change
based on various factors (many of which are beyond the Company's
control) including, without limitation: the Company's ability to
increase revenue and to continue to obtain new contracts, contract
renewals and extensions; inflation exceeding the Company’s
projection of the inflation rate of cost of services under
multi-year contracts; the ability to obtain bonds; decreases in
occupancy levels or disturbances at detention centers; malpractice
litigation; the ability to utilize third-party administrators for
out-of-facility care; compliance with laws and government
regulations, including those relating to healthcare; competition;
investigation and auditing of our contracts by government agencies;
termination of contracts due to lack of government appropriations;
material adverse changes in economic and industry conditions in the
healthcare market; negative publicity regarding the provision of
correctional healthcare services; dependence on key personnel and
the ability to hire skilled personnel; influences of certain
stockholders; increases in healthcare costs; insurance; public
company obligations; limited liability of directors and officers;
the Company’s ability to meet the NYSE Amex continued listing
standards; and stock price volatility. More detailed information
about the Company and the risk factors that may affect the
realization of forward-looking statements is set forth in the
Company’s filings with the U.S. Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K, as amended, for
the year ended December 31, 2011. Investors and security holders
are urged to read these documents free of charge on the SEC's web
site at www.sec.gov. The Company does not undertake to publicly
update or revise its forward-looking statements, whether as a
result of new information, future events or otherwise.
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