Advanzeon Solutions, Inc.'s Wholly-Owned Subsidiary Pharmacy Value Management Solutions, Inc. Signs Marketing/Distribution Agreement With Truck Driver Sleep Apnea Solutions, Inc.
TAMPA, Fla., July 9, 2014 /PRNewswire/ -- Advanzeon Solutions, Inc. (OTC:BB:CHCR) ("Advanzeon" or the "Company"), a leading behavioral health, wellness and pharmacy management provider for employers, Taft-Hartley health and welfare funds and managed care companies, today announced that its wholly-owned subsidiary, Pharmacy Value Management Solutions, Inc. ("PVMS") and Truck Driver Sleep Apnea Solutions Inc. ("TDSAS") entered into an agreement whereby PVMS will market and distribute TDSAS' complete sleep apnea solutions ("CSAS") program throughout the United States. The agreement was effective immediately upon signing and marketing efforts have commenced.
Sleep Apnea has been linked to numerous accidents each year. With the establishment of the National Registry of Certified Medical Examiners, the government has now recommended, among other safety steps, that commercial drivers be more scrutinized for this relatively common sleep disorder by their certified medical examiner as part of the Medical Examination Report for Commercial Driver Fitness Determination. Shockingly, nearly one of eight occupational accidental deaths in the U.S. are commercial driver related with an estimated 30% of those deaths being sleep related. Further, an estimated 28% of commercial drivers have been diagnosed with obstructive sleep apnea (OSA) whose root cause has traditionally been obesity. Recognizing these factors, it has been recommended that, subject to the certified medical examiner's discretion, commercial drivers that meet certain objective criteria and with a body mass index (BMI) reading of 35 or greater be tested for sleep apnea. PVMS, with its strong access to unions, self-funded groups and employers, is in a unique position to successfully engage in this program, combining it with the Company's cost-reduction pharmacy program.
"We are pleased to engage with PVMS in the marketing and distribution of our CSAS program which will undoubtedly help many commercial drivers," commented Vernon J. Wood, Co-Founder and President of TDSAS.
Clark A. Marcus, Chairman and CEO of Advanzeon Solutions, Inc., commented, "We sought out this marketing/distribution agreement, in part, because of our relationship with unions and, particularly, the Teamsters Union, whose main members are commercial drivers. Our pharmacy program, in and of itself, provides unions with significant savings on their general pharmacy needs. The direct relationship between obesity, sleep apnea, high blood pressure, hypertension, diabetes and a significant number of other illnesses requiring medications make our tie-in with TDSAS a natural. By combining our pharmacy program sales efforts with the CSAS program, we open significant pathways to unions, self-insured groups and employer groups by providing the mechanism whereby these groups will be able to cut their overall healthcare costs while at the same time creating a significantly healthier workforce, safer conditions on the road and, literally, save lives. The combination of the pharmacy program with the CSAS program more than pays for itself in many ways."
Under the Agreement, PVMS will market the CSAS on a fee basis. Terms of the Distribution Agreement were not disclosed.
About TDSAS
TDSAS provides a system/program for unions and employers with sponsored health and welfare benefit plans. TDSAS is a licensed Durable Medical Equipment Supplier. For more information, go to www.tdsas.com.
About Advanzeon Solutions, Inc.
Established in 1969, Advanzeon provides behavioral health, substance abuse and pharmacy management services 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 813-288-4808 or contact us at [email protected].
Forward-Looking Statements
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.
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