Advanzeon Solutions, Inc. Enters into a Strategic Advisory and Debt Purchase Agreement with Southridge LLC
TAMPA, Fla., June 3, 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 it has entered into a Strategic Advisory and Debt Purchase agreement with Southridge LLC, a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies.
Clark Marcus, Advanzeon CEO commented, "We are pleased to have contracted with Southridge along a number of fronts, not the least of which will be assisting the Company in becoming current with its public filings, restructuring the Company's Balance Sheet and placing the firm in a superior and strengthened position for accelerated future growth."
Stephen Hicks, Southridge CEO added, "Southridge very much welcomes the opportunity to partner with Advanzeon in the aforementioned projects and stands at the ready to assist the Company in any matter that will require our expertise. Our eighteen years of experience in funding and advising clients in the small cap space has positioned us well to assist the Company in its financial and corporate goals while providing management the ability to focus on and execute upon the core business strategy."
About Advanzeon Solutions, Inc.
Established in 1969, the Company 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.
About Southridge
Southridge is a diversified financial holding company specializing in direct investment and advisory services to small and middle market companies. Since 1996, the structured finance team has made direct investment of over $1.7b into growth companies globally. Our expertise lies in our ability to customize a financing plan for the prospective client and then execute on that plan without fail.
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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