One-year extension valued at approximately $10.1 million, takes
effect June 30, 2012
Conmed Healthcare Management, Inc. (NYSE Amex: CONM) today announced
that Pima County, Arizona has agreed to extend its contract with Conmed
for healthcare services at the Pima County Adult Detention Center for
one year, covering the period from July 1, 2012 through June 30, 2013.
This contract is expected to generate revenues of approximately $10.1
million during the extension period.
The contract extension includes a full suite of medical and mental
health services for Pima County detainees, including: medical, mental
health and dental staffing; out-of-facility, including financial
responsibility; UM/UR; management of pharmacy services; radiology;
laboratory services; waste disposal; and Electronic Medical Records
(EMR), implementation of which is currently underway.
"Securing this renewal from our long-standing client, Pima County,
approximately five months before the current contract was set to retire
is a testimony to Conmed's unwavering commitment to provide the
appropriate standards of care to each and every customer we serve," said
Richard Turner, Chairman and Chief Executive Officer. "We look forward
to continuing our rewarding and long-term relationship with Pima County
and thank them for their ongoing commitment to us."
Pima County, the second largest of the four original counties in the
State of Arizona, was created in 1864 and included approximately all of
southern Arizona acquired from Mexico by the Gadsden Purchase.
Settlement of the region goes back to the arrival in the 1690s of the
Spanish, who encountered Native Americans already living there. The
county has grown rapidly and today the population is over 1 million. The
county seat is Tucson, Arizona. To find more history and governmental
information about Pima County, visit the website at http://www.pima.gov.
Conmed has provided correctional healthcare services since 1984,
beginning in the State of Maryland, and currently serves county and
municipal correctional facilities in nine states, including Arizona,
Kansas, Maryland, New Jersey, Oregon, Tennessee, Texas, Virginia and
Washington. For more information, visit us at www.conmedinc.com.
Forward Looking Statements
This press release may contain, among other things, certain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, including, without limitation, (i)
statements with respect to the Company's plans, objectives, expectations
and intentions; and (ii) other statements that are not historical facts
including statements which may be identified by words such as "may,"
"could," "would," "should," "believes," "expects," "anticipates,"
"estimates," "intends," "plans," "projects," "potentially," or similar
expressions. These statements are based upon the current beliefs and
expectations of the Company's management, and are subject to significant
risks and uncertainties. Actual results may differ from those set forth
in the forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change based
on various factors (many of which are beyond the Company's control)
including, without limitation: the Company's ability to increase
revenue; inflation exceeding the Company's projection of the inflation
rate of cost of services; the ability to obtain bonds; decreases in
occupancy levels or disturbances at detention centers; malpractice
litigation; the ability to utilize third-party administrators for
out-of-facility care; compliance with laws and government regulations;
competition; investigation and auditing of our contracts by government
agencies; termination of contracts; material adverse changes in economic
and industry conditions in the healthcare market; negative publicity
regarding the provision of correctional healthcare services; dependence
on key personnel and the ability to hire skilled personnel; increases in
healthcare costs; insurance; public company obligations; the Company's
ability to meet the NYSE Amex continued listing standards; and stock
price volatility. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking
statements is set forth in the Company's filings with the U.S.
Securities and Exchange Commission, including the Company's Annual
Report on Form 10-K, as amended, for the year ended December 31, 2010.
Investors and security holders are urged to read these documents free of
charge on the SEC's web site at www.sec.gov.
The Company does not undertake to publicly update or revise its
forward-looking statements, whether as a result of new information,
future events or otherwise.
Conmed Healthcare Management, Inc.
Thomas W. Fry, 410-567-5520
Lisa Wilson, 212-452-2793