American CareSource Holdings, Inc. (NASDAQ: ANCI), the nation's leading ancillary health care network services company, announced today that it has signed and implemented an agreement with Annapolis, Maryland-based Self Funding Administrators Corporation ("SFA"), a third party administrator ("TPA") representing an additional 30,000 covered lives.
David S. Boone, Chief Executive Officer of American CareSource ("ACS") noted, "The addition of SFA to our client portfolio has provided us an opportunity to become an integral part of SFA's affordable healthcare solution. The SFA suite of services can all benefit from access to ACS' more than 36,000 quality provider locations."
Chris Hutchinson, President of SFA stated, "We are equally pleased to offer our clients the benefits of the ACS provider network. In today's changing world of healthcare, our goal is to design and manage employee benefit plans that are not only cost effective for the employer, but also meet the ever-changing needs of the employee and his family. ACS' network customization allows us to maximize provider access by all employees."
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 4,900 ancillary service providers at more than 36,000 sites through its subsidiary, Ancillary Care Services. Ancillary Care Services (ACS) provides ancillary healthcare services through its network that offer cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion and has grown to approximately 30% of total national healthcare expenditures. These providers offer services in 31 categories including dialysis centers, laboratories, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics and others. ACS’ ancillary network provides a complete outsourced solution for a wide variety of healthcare 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 Self Funding Administrators Corporation Based in Annapolis, Maryland, SFA offers exceptional customer service and a state-of-the-art claims processing system to its diverse client base of private schools, recreation agencies, municipal government and large corporations. Founded in 1977, SFA has become a premier third party administrator in the Baltimore/Washington D.C. marketplace. For more information about Self Funding Administrators Corporation, visit their website at www.self-funding-admin.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 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 statement. 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.
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