COMPLETE WELLNESS CENTERS INC. ANNOUNCES NEW MSO AGREEMENT WITH MANAGED CARE SUBSIDIARY.WASHINGTON--(BUSINESS WIRE)--March 11, 1998--Complete Wellness Centers, Inc., a multi-disciplinary health services health services Managed care The benefits covered under a health contract company, announced today that its subsidiary, Optimum Health Services of Florida, Inc. (OHS), formerly known as Complete Wellness Independent Physician Association Inc., has entered into a management services agreement with Beacon Health Plans, Inc., a Florida based HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, with 30,000 covered lives. Under this agreement, OHS will offer its traditional network of providers to Beacon Health Plan's HMO enrollees in Florida. OHS of Florida, Inc. is an integrated delivery system integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health with over 1,000 such provider locations. OHS develops networks for both traditional and alternative healthcare practitioners. OHS has begun discussions to deliver an alternative care benefit to Beacon members. "Beacon Health Plans is a growing company with an experienced management team. We are excited for the opportunity to partner with them to deliver premier healthcare to their membership," said OHS President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jason Patchen. C. Thomas McMillen, Chairman and CEO of Complete Wellness Centers, Inc., "OHS's partnership with Beacon Health Plans creates an opportunity to deliver quality health services and expand provider access to health plan enrollees. We look forward to a mutually successful relationship with Beacon Health Plans." Complete Wellness Centers, a multi-disciplinary health services company, develops traditional and alternative provider networks, integrated medical centers, and related products focused on patient wellness. Its stock and warrants trade on the 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 Small Cap market under the symbols, CMWL and CMWLW, respectively. -0- This release contains 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. regarding the plans or objectives of the Company for future operations, including the development of the multi-disciplinary medical centers. The forward- looking statements included herein are based on current expectations that involve some uncertainties. Actual results may differ materially from those projected in such forward-looking statements. CONTACT: Complete Wellness Centers, Inc. C. Thomas McMillen, 202/543-6800 or OHS of Florida, Inc. Jason Patchen/Christian Miller, 813/536-9956 or Investor Relations Investor relations The process by which the corporation communicates with its investors. Counsel The Equity Group Inc. Linda Latman, 212/836-9609 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion