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

To: loafy loaf who wrote (35)	12/29/1997 9:26:00 AM
From: Joseph Strohsahl	Read Replies (1) \| Respond to of 106

Monday December 29, 8:28 am Eastern Time Company Press Release PROMEDCO'S MOMENTUM CONTINUES Announces Fifth Affiliation in Four Months FORT WORTH, Texas--(BUSINESS WIRE)--Dec. 29, 1997--ProMedCo Management Company (Nasdaq/NM:PMCO - news) today announced the signing of a binding letter of intent to affiliate with Thomas-Spann Clinic, P.A., a multi-specialty group operating two sites in Corpus Christi. In addition, ProMedCo has entered into a long-term management agreement effective December 1, with the 14-physician group. Other terms were not disclosed. H. Wayne Posey, ProMedCo's president and chief executive officer, said, ''We are pleased to announce our fifth affiliation within the past four months totaling 222 providers. Corpus Christi is a market we targeted because of a very favorable managed care environment and significant additional consolidation opportunities. Founded in 1948, Thomas-Spann is the largest medical group in that market.'' 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 Management Co., Fort Worth H. Wayne Posey, 817/335-5035 ------------------------------------------------------------------------