TAMPA, Fla., April 7, 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"), has entered into an agreement with the Center for Cooperative Housing, Inc. ("CCH"). Under the terms of the agreement, CCH will utilize PVMS' unique and innovative pharmacy program on a cost-plus basis, as well as the Company's behavioral and wellness programs for all members enrolled in its cooperative program on a fixed fee, per member/per month basis. The contract term commences immediately.
Malcolm Ashley, Executive Vice President of CCH, stated, "This is a great day for the medical cooperative community. After a thorough analysis of the PBM universe, we are proud to be associated with PVMS' pharmacy program. The efficiency and cost-effective pricing provided by PVMS will allow our cooperative association, both locally and nationally, to compete effectively with the larger, established healthcare organizations that, up to now, had a pricing monopoly on pharmaceuticals which only tend to take advantage of the smaller healthcare organizations and the consumer, in general. It is critical to this nation that we bring affordable healthcare to all communities and all levels of society. Without PMVS' 'game-changing' program, we do not see any realistic change on the horizon. PVMS has seized upon this opportunity and made realistic pricing possible. The addition of Advanzeon's behavioral health and wellness programs only completes our society's need for a healthier, more educated population and gives consumers, for the first time, the opportunity to take control of their own well being."
"Launching from our New Haven base, we expect our program to expand rapidly within the next six months to Bridgeport, Connecticut; Staten Island, New York; and, Cleveland, Ohio with an initial population of approximately 20,000 members. All of our members will benefit from the pharmacy, behavioral health and wellness programs provided by Advanzeon and its subsidiary, PVMS," concluded Mr. Ashley.
Clark A. Marcus, Chairman and CEO of Advanzeon Solutions, Inc., said, "We are extremely honored to have been selected by CCH to partner with them in the growth of their medical cooperative. We expect this relationship to not only expand rapidly in the next six months, but to be of national prominence within a year. We share CCH management's vision of bringing affordable healthcare to our national community. We are especially pleased that CCH elected to include the Company's behavioral health and wellness programs as part of their program, and we are confident that those two components will materially decrease pharmacy dependency and the related excessive costs generally encountered throughout this nation's population."
About Center for Cooperative Housing, Inc.
The Center for Cooperative Housing was established in 1991 by the National Association of Housing Cooperatives (NAHC) which is based in Washington D.C. It is an independent organization whose mission includes providing its members with affordable healthcare and pharmacy benefits and reducing the ever-spiraling, high costs of healthcare. CCH seeks to achieve those goals by partnering with companies like Advanzeon Solutions.
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 visit our website at www.advanzeon.com
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.
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SOURCE Advanzeon Solutions, Inc.