American CareSource Holdings, Inc. (NASDAQ: ANCI), the nation’s leading ancillary health care system, announced today that it has signed and implemented an agreement with Bossier City, Louisiana-based Insurance Management Administrators (“IMA”), a third party administrator (“TPA”) representing an additional 19,000 covered lives.
David S. Boone, Chief Executive Officer of American CareSource (“ACS”), noted, “Through our affordable ancillary healthcare benefit offerings, we will support IMA’s mission of promoting the highest quality healthcare at the lowest possible costs to their clients. We are delighted to be working with IMA. Their reputation as a progressive industry leader complements our strategy of working directly with payors to ensure our providers are an integral part of their product offerings. IMA represents the 12th new client added this year for American CareSource, establishing 2010 as the company’s most successful year yet for the company adding new clients.”
Nicola Sumpter, IMA’s Vice President Operations/Marketing, stated, "“Our partnership with American CareSource will provide our clients with enhanced access to high quality ancillary providers at affordable costs.”
About American CareSource Holdings, Inc.American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of over 4,600 ancillary service providers at more than 38,000 sites through its subsidiary, Ancillary Care Services. Ancillary Care Services provides ancillary health care services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion and has grown to over 20% of total national health expenditures. These providers offer services in 31 categories including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care payors and plan sponsors including self-insured employers, indemnity insurers, preferred provider organizations, health maintenance organizations, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com. About Insurance Management Administrators Insurance Management Administrators, a third party administrator, was established in 1982 by a team of experienced insurance and benefit professionals to provide a complete range of products, consulting, and management services to employers and the insurance brokerage community. IMA’s staff of professionals, innovative cost control systems, timely management of meaningful information, and ability to administer a limitless number of plan designs has helped IMA’s brokers, consultants and clients realize significant savings. IMA offers the latest in technology while maintaining a very personal relationship with each client. IMA is an active member of the Society of Professional Benefit Administrators (SBPA). For more information, visit the IMA website at www.imala.com. ANCI-G Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Any statements that are not historical facts contained in this release, including statements with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.