America Service Group Strengthens Management Team to Take Advantage of Increasing Market Opportunities.Business Editors & Health/Medical Writers NASHVILLE, Tenn.--(BW HealthWire)--Sept. 25, 2000 America Service Group Inc. (Nasdaq:ASGR ASGR America Service Group Inc. ASGR Armed Services Graves Registration Office ) today announced that it has strengthened its executive team to address the tremendous potential for new business that has developed in the correctional healthcare market. The Company anticipates that over $425 million in new annual revenues may be up for award through the Year 2001. This presents the Company with a major opportunity for growth. To take full advantage of this potential, the Company has recognized that it requires greater depth and more specialized focus in the executive team. Gerard F. Boyle, currently Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , has assumed leadership of the Company's growth strategy as Chief Development Officer. Bruce A. Teal, currently Chief Financial Officer, has taken on the responsibilities of Chief Operating Officer. S. Walker Choppin will join the Company as Chief Financial Officer by October 15, 2000. Mr. Choppin was formerly Senior Vice President of the Healthcare Group of Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. . "This is about adjusting the line-up to play to our strengths," said Michael Catalano, Chairman, President and Chief Executive Officer. "The key players are already comfortable in their new positions. Boyle has extensive market development experience and an outstanding record of results. Teal has been deeply involved in operations over the last four years. Choppin has been the Company's lead banker and close financial advisor since 1996. The transition of roles will be seamless." America Service Group Inc., based in Brentwood, Tennessee Brentwood is a city in Williamson County, Tennessee, United States. The population was 23,445 as of the U.S. Census Bureau's 2000 census, and as of 2007, Brentwood's population has increased to over 30,000. Brentwood is an affluent Nashville suburb. , is a leading provider of correctional healthcare services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . America Service Group Inc., through its subsidiaries, provides a wide range of managed healthcare and pharmacy programs for approximately 325,000 inmates. The Company employs over 5,100 medical, professional and administrative staff nationwide. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . A discussion of the important factors and assumptions regarding the statements and risks involved is contained in the Company's filings with the Securities and Exchange Commission. For additional information about the Company, visit America Service Group's web site: http://www.asgr.com. |
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