Sabratek's CMS Healthcare Subsidiary Signs Contract with Multiplan, Inc.; Contract Covers One Million Subscribers in Florida
PR Newswire - July 13, 1999 07:15
SKOKIE, Ill., July 13 /PRNewswire/ -- Sabratek Corporation (Nasdaq: SBTK) today announced that its subsidiary, CMS Healthcare, Inc. has been awarded a contract by MultiPlan PPO to provide a complete network of inpatient and outpatient services for the one million subscribers of MultiPlan in the State of Florida.
Under the terms of the agreement, CMS Healthcare will be providing a comprehensive system for delivering behavioral health services. Prior to entering the contract, MultiPlan conducted a successful site visit and audit of CMS Healthcare's Network Development and Credentialing Programs. CMS Healthcare credentials its providers to criteria that exceeds NCQA Standards. CMS also provides a global scope of utilization review services with particular emphasis on behavioral health.
K. Shan Padda, CEO of Sabratek stated, "CMS continues to demonstrate the ability to develop provider networks and to integrate those networks into the larger Healthcare system and payor community. We are very excited about this contract and the ability of CMS to enhance the delivery of care to the members of MultiPlan in a cost-effective manner. The integration of provider networks and the delivery of comprehensive services is a key component of the overall services offered by Sabratek."
"We are very pleased to be working with CMS and their network of services in Florida and look forward to working with them in other areas of the country. Their services have proven to be extremely valuable to our customers and our patients and I look forward to exploring other areas of working with them," said Stephen Casner, Vice President Network Development for MultiPlan.
MultiPlan, a preferred provider organization (PPO) established in 1970, maintains one of the largest and most comprehensive healthcare networks in the country. It is the only PPO network accredited in all 50 States by the American Accreditation Healthcare Commission/URAC. The MultiPlan Group's diverse client-base includes insurance companies, third party administrators, HMOs, self-insured corporations, union-sponsored welfare plans, government programs, foreign insurance companies, travel assistance companies and workers compensation programs. About one in 10 Americans -- more than 23 million people -- are covered through the 1,900 client health plans using Multiplan.
Sabratek Corporation is a web-enabled clinical connectivity company consisting of eight divisions and subsidiaries. Sabratek develops, produces and markets technologically advanced, easy-to-use, smart, interactive, internet enabled medical systems that work seamlessly together to allow healthcare providers to lower costs, expand access and maintain quality across the continuum of care.
This press release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements are contained in the Company's periodic reports filed under the Securities Exchange Act of 1934, as amended (copies of which are available upon request from the Company's Investor Relations Department).
Contact: John Reilly, Chief Financial Officer of Sabratek Corporation, 847-720-2400; or Bill Roll, Investor Relations, or Ellen Paz, Media Relations, both of Citigate Dewe Rogerson, Inc., 212-688-6840, for Sabratek.
SOURCE Sabratek Corporation
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