Catasys, Inc. is now Ontrak, Inc.
06 Luglio 2020 - 10:30PM
Business Wire
Catasys, Inc. (NASDAQ: CATS) (“Catasys” or the
“Company”), a leading AI-powered and telehealth-enabled,
virtualized outpatient healthcare treatment company, today
announced that the company will adopt the name of its
market-leading solution, becoming Ontrak, Inc. Effective Tuesday,
July 7, 2020, the company’s common stock will trade under the new
Nasdaq ticker symbol, OTRK, and the new CUSIP number 683373104.
This announcement leverages national brand recognition of the
company’s OntrakTM solutions among health plan members, health plan
customers, and the company’s network of over 12,000 behavioral
health providers.
Mr. Terren Peizer, Chairman and CEO of Catasys, stated, “We are
excited to announce this important milestone in our company’s
growth trajectory. Our second national health plan customer has
expanded their business with us nationwide, Q2 Net Promoter Score
ratings of our Ontrak Program and Care Coaches demonstrate that
customer loyalty has reached record highs at 77 and 83
respectively, and we believe we now have the largest network of
behavioral health providers of any healthcare IT company. This
marks our transition from the pilot phase of our corporate
development into a clinically and economically-proven strategic
partner to our customers, members and providers. For years we have
been known to these constituencies as Ontrak, and to the investor
and analyst community as Catasys. Powerhouse brands consolidate
marketing and sales dollars behind a single, iconic brand name and
brand identity. The Ontrak brand has tremendous positive equity in
the marketplace and we believe that we will scale the business
faster and more efficiently by uniting our corporate and product
initiatives under the Ontrak master brand. Today we are Ontrak,
better together, in every way and everywhere.”
OntrakTM solutions are a critical component of the company’s
PRETM (Predict-Recommend-Engage) platform that predicts people
whose chronic disease will improve with behavior change, recommends
care pathways that are effective and that people will follow, and
engages people who aren’t getting the care they need. OntrakTM
solutions incorporate evidence-based psychosocial and medical
interventions delivered either in-person or via telehealth, along
with care coaching and in-market Community Care Coordinators who
address the social and environmental determinants of health.
OntrakTM solutions improve member health and deliver validated cost
savings of more than 50% for enrolled members.
About Ontrak, Inc.
Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and
telehealth enabled, virtualized outpatient healthcare treatment
company, whose mission is to help improve the health and save the
lives of as many people as possible. The company’s PRETM
(Predict-Recommend-Engage) platform predicts people whose chronic
disease will improve with behavior change, recommends effective
care pathways that people are willing to follow, and engages people
who aren’t getting the care they need. By combining predictive
analytics with human engagement, Ontrak delivers improved member
health and validated outcomes and savings to healthcare payers.
The company’s integrated, technology-enabled OntrakTM solutions,
a critical component of the PRE platform, are designed to treat
members with behavioral conditions that cause or exacerbate chronic
medical conditions such as diabetes, hypertension, coronary artery
disease, COPD, and congestive heart failure, which result in high
medical costs.
Ontrak has a unique ability to engage these members, who do not
otherwise seek behavioral healthcare, leveraging proprietary
enrollment capabilities built on deep insights into the drivers of
care avoidance.
Ontrak integrates evidence-based psychosocial and medical
interventions delivered either in-person or via telehealth, along
with care coaching and in-market Community Care Coordinators who
address the social and environmental determinants of health,
including loneliness. The company’s programs improve member health
and deliver validated cost savings to healthcare payers of more
than 50 percent for enrolled members. Ontrak solutions are
available to members of leading national and regional health plans
in 31 states and in Washington, D.C.
Learn more at www.ontrak-inc.com
Forward-Looking Statements
Except for statements of historical fact, the matters discussed
in this press release are forward-looking and made pursuant to the
Safe Harbor provisions of the Private Securities Litigation Reform
Act of 1995. These forward-looking statements reflect numerous
assumptions and involve a variety of risks and uncertainties, many
of which are beyond our control, which may cause actual results to
differ materially from stated expectations. These risk factors
include, among others, changes in regulations or issuance of new
regulations or interpretations, limited operating history, our
inability to execute our business plan, increase our revenue and
achieve profitability, lower than anticipated eligible members
under our contracts, our inability to recognize revenue, lack of
outcomes and statistically significant formal research studies,
difficulty enrolling new members and maintaining existing members
in our programs, the risk that treatment programs might not be
effective, difficulty in developing, exploiting and protecting
proprietary technologies, intense competition and substantial
regulation in the health care industry, the risks associated with
the adequacy of our existing cash resources and our ability to
continue as a going concern, our ability to raise additional
capital when needed and our liquidity. You are urged to consider
statements that include the words "may," "will," "would," "could,"
"should," "believes," "estimates," "projects," "potential,"
"expects," "plan," "anticipates," "intends," "continues,"
"forecast," "designed," "goal," or the negative of those words or
other comparable words to be uncertain and forward-looking. For a
further list and description of the risks and uncertainties we
face, please refer to our most recent Securities and Exchange
Commission filings which are available on its website at
http://www.sec.gov. Such forward-looking statements are current
only as of the date they are made, and we assume no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
law.
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Westwicke Bob East Phone: 443 904 7975 Email:
bob.east@westwicke.com
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