Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : PMCO - Promedco -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Strohsahl who wrote (33)	12/2/1997 8:43:00 AM
From: loafy loaf	Respond to of 106

Looks like we will be experiencing some positive momentum, could see 10 1/2 - 11 in the short. Just my opinion of course. Good Luck LOAF

To: Joseph Strohsahl who wrote (33)	12/4/1997 11:14:00 AM
From: loafy loaf	Read Replies (1) \| Respond to of 106

NEWS ALERT!!!! Thursday December 4, 8:30 am Eastern Time Company Press Release Promedco Announces Completion Of Acquisition Of Health Plans, Inc. FORT WORTH, Texas--(BUSINESS WIRE)--Dec. 4, 1997--ProMedCo Management Company (Nasdaq/NM:PMCO - news) today announced the completion of its acquisition of Portland, Maine-based Health Plans, Inc., which provides state-of-the-art capitation management services through risk contracting with third-party payors. The acquisition expands operations to two new states, significantly expands the scope of the Company's services and enhances its marketing efforts. ProMedCo had been providing management consulting services to Health Plans under a consulting services agreement since June 1997. Terms of the transaction were not disclosed. Currently, Health Plans provides services which cover approximately 30,000 capitated lives, and it manages a network of 240 physicians and several hospitals in the Maine and New Hampshire area. It was the first primary care affiliated physician organization to accept global capitation in the Northeast and has assembled an outstanding management team with significant experience in securing and managing risk contracts. H. Wayne Posey, ProMedCo's president and chief executive officer, said, ''The inevitable penetration of managed care in our existing and prospective markets creates a major business opportunity for our company as we prepare our medical groups for the assumption of risk. The acquisition of Health Plans facilitates our move into the managed care arena without diluting ProMedCo's earnings, while also opening new geographic markets and creating a strong inducement for medical groups to affiliate with our company. This acquisition expands our infrastructure, giving us state-of-the-art capitation management services. These services include clinical quality assessment, information systems, enrollment and patient registration, capitation processing and payment, utilization management, and case management.'' This press release contains ''forward-looking statements'' which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are based on current expectations and may be significantly impacted by certain risks and uncertainties, some of which are described in the Company's S-1 Registration Statement and Prospectus filed with the Securities and Exchange Commission on March 12, 1997. There can be no assurance that statements made in this press release relating to future events will be achieved. ProMedCo, headquartered in Fort Worth, Texas, is a physician practice management company. ProMedCo's focus is to facilitate the consolidation of physician groups into primary care-driven, multi-specialty networks. The Company provides expertise in managed care, access to capital, information systems and experienced management. Contact: ProMedCo, Fort Worth H. Wayne Posey, 817/335-5035 More Quotes and News: ProMedCo Management Co (Nasdaq:PMCO - news) Related News Categories: medical/pharmaceutical