TAMPA, Fla., Sept. 24, 2015 /PRNewswire/ -- Advanzeon Solutions, Inc.'s (OTC-BB: CHCR), (Advanzeon) wholly-owned subsidiary, Pharmacy Value Management Solutions, Inc. (PVMS), (collectively, sometimes referred to as the "Company"), announced today the signing of an Agreement with All Med Medical and Rehabilitation Centers ("All Med") whereby All Med adds PVMS' Sleep Apnea Program to its multiple medical locations specializing in medical examinations, specialty care, ambulatory surgery, diagnostics and urgent care services. PVMS will be the sole provider of sleep apnea-related testing and treatment equipment to All Med's patients. This Agreement is effective immediately. All Med's patient population generates in excess of 150,000 patient visits annually.
Jerry Smith, the Company's Chief Operating Officer, stated, "This collaboration is very important as it confirms the continued expansion of our Sleep Apnea Program, which was initially launched in the organized labor market. This Agreement represents a material expansion of PVMS' Sleep Apnea Program into the commercial healthcare market. All Med operates a substantial healthcare system in the New York City metropolitan area, including multiple freestanding clinic locations as well as ambulatory surgery, urgent care centers and diagnostic centers. This system will now include the Company's Sleep Apnea Program. Based upon national statistics we would anticipate there being a high incidence of sleep apnea among All Med's patient population. The Company estimates at least 4,500 patient contacts generating in excess of $5,000,000 annually."
Robert Slingsby, CEO of All Med, stated, "We are very pleased to have entered into this Agreement with PVMS. Sleep apnea is being identified as a contributing factor in many disease conditions that we see in our system. PVMS is uniquely qualified to provide a full-service program to assist our clinical staff by efficiently providing the testing and equipment that will allow us to diagnose and treat the often under-diagnosed sleep apnea conditions. We are confident that PVMS' Sleep Apnea Program will provide a significant benefit to our patients. It is our intent to utilize this Program in our current locations as well as in planned expansions of our network of care."
About Advanzeon Solutions, Inc.
Established in 1969, Advanzeon provides behavioral health, substance abuse and pharmacy management services, as well as sleep apnea programs, for employers, Taft-Hartley health and welfare Funds, and managed care companies throughout the United States. Headquartered in Tampa, Florida, the Company focuses on personalized attention, flexibility, a commitment to high-quality services and innovative approaches that address both the specific needs of clients and changing healthcare industry demands. For more information, please call 813-367-9080 or visit our website at www.advanzeon.com.
About All Med Medical and Rehabilitation Centers
All Med was formed in 1998. It operates dynamic and integrative diagnostic and treatment centers providing a wide array of primary and specialty care services and is licensed under Article 28 of the Health Law of the State of New York. All Med currently operates at three sites in the City of New York – two in Bronx County and one in Queens County. All Med also has affiliate sites in the Melrose section of the Bronx, Queens and Manhattan. The Company has approximately 200 employees and provides approximately 150,000 combined patient visits inclusive of ancillary services. All Med provides patient care across all payer classes including Medicaid, Medicare, HMO, Commercial and Worker's Compensation.
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of the Company's management, reflect numerous assumptions, and are subject to significant risks and uncertainties, many of which are beyond the Company's control. If any of these underlying beliefs, expectations or assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
These risk factors include, among others, the ability of the Company to maximize its market share with new pharmacy initiatives, the ability of the Company's new pharmacy cost-savings program to guarantee a 10% or more reduction in pharmacy costs, our ability to achieve expected results from new business and to revolutionize the pharmacy sector of the healthcare industry, the ability to obtain a performance bond on satisfactory terms, the ability of the Company's pharmacy program to promote greater medication adherence without restricting access to needed medications, technological advances, challenges in development of new products and services, new products and services developed by competitors, the Company's ability to provide superior patient care while increasing its business and margins as a result of implementing its pharmacy cost-savings program, general industry conditions and competition, general economic factors, global trends toward health care cost containment, the effect of governmental regulation, including pharmaceutical industry regulation, insurance regulation and health care legislation, varying trends in member pharmacy utilization, increases or variations in cost of care, seasonality, our ability to manage healthcare operating expenses, the profitability (if any) from capitated pharmacy contracts or other products, and the Company's ability to obtain additional financing.
Advanzeon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additional risk factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Company's most recent Annual Report on Form 10-K and the Company's other filings with the Securities and Exchange Commission (SEC), which are available at the SEC's website at www.sec.gov.
SOURCE Advanzeon Solutions, Inc.