America Service Group Signs Contract with Alabama Department of Corrections.Business Editors/Health/Medical Writers BRENTWOOD, Tenn.--(BUSINESS WIRE)--Oct. 31, 2003 America Service Group Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ASGR ASGR America Service Group Inc. ASGR Armed Services Graves Registration Office ) announced today that its operating subsidiary, Prison Health Services health services Managed care The benefits covered under a health contract , Inc. (PHS (Personal Handyphone System) A TDMA-based cellular phone system introduced in Japan in mid-1995. Operating in the 1880-1930 MHz band, PHS uses microcells that cover an area only 100 to 500 meters in diameter, resulting in lower equipment costs but requiring more base ), has executed a contract with the Alabama Department of Corrections (ADOC ADOC Associazione per la Difesa e l'Orientamento dei Consumatori ADOC Alabama Department of Corrections ADOC Arizona Department of Commerce ADOC Arizona Department of Corrections ADOC Air Defense Operations Center ) to provide statewide medical services, commencing November 3, 2003. The contract represents total revenues of approximately $142.7 million over its initial three-year contract period. The contract contains two additional one-year renewal options. PHS will be responsible for providing on-site medical care and pharmacy services as well as off-site specialty and hospital-based services. "We very much appreciate the confidence placed in PHS by Commissioner Campbell and his staff and look forward to a collaborative partnership that will deliver responsive, quality healthcare services to the ADOC," said Lawrence H. Pomeroy, senior vice president and chief development officer of America Service Group. America Service Group Inc., based in Brentwood, Tennessee, is the leading provider of correctional healthcare services in the United States. America Service Group Inc., through its subsidiaries, provides a wide range of healthcare and pharmacy programs to government agencies for the medical care of inmates. This press release may contain "forward-looking" statements made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. As such, they involve risk and uncertainty that actual results may differ materially from those projected in the forward-looking statements including, without limitation, risks related to the following: the Company's ability to retain existing client contracts and obtain new contracts; whether or not government agencies continue to privatize correctional healthcare services; increased competition for new contracts and renewals of existing contracts; the Company's ability to execute its expansion strategies; the Company's ability to limit its exposure for catastrophic illnesses and injuries in excess of amounts covered under contracts or insurance coverage; and the Company's dependence on key personnel. A discussion of these important factors and assumptions regarding the statements and risks involved is contained in the Company's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and other filings with the Securities and Exchange Commission. These forward-looking statements are made as of the date of this release. The Company assumes no obligations to update or revise them or provide reasons why actual results may differ. |
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