****BIG NEWS******
OptimumCare forms alliance with Galaxy Health Care
multistate Community Mental Health Centers
LAGUNA NIGUEL, Calif.--(BW HealthWire)--Feb. 13, 1997-- Optimumcare Corp Thursday
announced the formation of a strategic alliance with Galaxy Health Care of Miami to develop a
minimum of 40 Community Mental Health Centers (CMHC) in three separate regions of the
country over a period of 36 months.
CMHCs are community based, free-standing mental health treatment facilities which provide
broad based outpatient psychiatric and psychological care for patients with mental illness and
substance abuse problems.
The OptimumCare/Galaxy alliance presently intends to establish CMHCs in Arizona, California,
Nevada, Colorado, Washington, Alabama, Texas, Georgia, Tennessee, Mississippi, Maryland,
New Jersey and Florida.
The alliance will join together CMHCs, psychiatric providers, regional hospitals and primary care
physicians in various regions of the country. The treatment centers will be structured on a
state-by-state, multisite integrated network model for provision of community based mental health
treatment services for Medicare patients and which also meet the needs of managed care in both
the public and private sectors.
The OptimumCare/Galaxy alliance is operating a CMHC in Ft. Lauderdale, Fla., and is in the
process of identifying sites for CMHCs in Las Vegas; Los Angeles County, Calif., and Nashville,
Tenn.
Edward A. Johnson, president of OptimumCare said: "The growth of Galaxy Health Care in the
South East and OptimumCare in the West will provide a platform that should enable rapid growth
in a number of regions in the country. The Galaxy management team, headquartered in Miami,
includes a staff of highly competent and experienced professionals."
Galaxy Chief Executive Officer Dale P. Redlich added: "Galaxy is very excited about the prospect
of becoming a national provider of community based psychiatric out-patient services. This desire
stems from Galaxy's mission statement which is to provide the finest quality of mental health
services, with the highest degree of integrity to the broadest spectrum of consumer.
"This vision could not be realized without the formation of an alliance with a company such as
OptimumCare. The purpose and benefit of our pending strategic alliance with OptimumCare, from
our perspective, involves the creation of a truly synergistic relationship that will merge the needs
and interests of and benefit both companies in a way that we believe will result in long term growth
for both companies and will also thereby serve the individual desire of each company to become a
national rather than strictly a regional provider of services within the behavioral health care
markets."
OptimumCare Corp. provides management services for a wide range of inpatient and outpatient
mental health services through a growing network of hospitals, medical centers and outpatient
clinics.
Galaxy Health Care has developed a multisite network of wholly owned CMHCs operated under
the name "Treatment Resources" and provides home care through its Psych Home Care Inc.
subsidiary. Galaxy also provides management and administrative services to health care providers
through its Management Services Organization (MSO).
NOTE: Safe harbor statements under the Private Securities Litigation Reform Act of 1995: The
statements in this news release are forward-looking in time and involve risks and uncertainties,
including the risks associated with plans, the effect of changing economic conditions, availability of
sufficient working capital, market acceptance, unanticipated delays in obtaining state licenses,
governmental regulation which may affect future facility licensing requirements, health care reforms
which may affect payment for services, and other factors detailed in OptimumCare Corp.'s reports
filed under the Securities and Exchange Act of 1934.
For more information about OptimumCare Corp., visit our Web site at www.opmc.com .
CONTACT: OptimumCare Corp.
800/995-4410 |
