CliniCon Announces Acquisitions in Nutritional and Dermatological Long Term Care Management.Business Editors/Health & Medical Writers FRANKLIN, Tenn.--(BW HealthWire)--May 1, 2000 James B. Creason, Chairman and Chief Executive Officer, today announces the acquisition of three business platforms in the nutrition and dermatological dermatological, dermatologic pertaining to dermatology; of or affecting the skin. healthcare sector. The acquisition of NutriCor, Inc., DermiCor, Inc. and ProVision Services, Inc., former subsidiaries of Progressive Holdings, Inc. (PHI phi n. Symbol  The 21st letter of the Greek alphabet.PHI, n See health information, protected. ), sold to The Potomac Group, Inc., Nashville TN, in July 1999 concurrent with the spin-off of these acquired subsidiaries to the selling shareholders of PHI, was completed recently for an undisclosed amount of cash and debt. Commenting on the transaction, Mr. Creason stated, "Jeff and I are very enthusiastic about carrying these business concepts and contractual arrangements forward. Our business model can now be aggressively pursued with the successful completion of these acquisitions and we are confident of our business strategy of enhancing the nutritional and dermatological elements of long term care patients both in-home and in institutional settings." Jeffrey D. Bowman, President and 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. stated, "CliniCon's business model includes understanding how our clients are reimbursed in the ever-changing extended care market and being able to apply technology solutions that make the client more efficient. We consider this strength to differentiate CliniCon from our competitors. CliniCon has a strong reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. , as well as clinical background, that enables us to bring significant value to our clients in the short and long term." CliniCon is a novel healthcare `business to business' therapy, information processing information processing: see data processing. information processing Acquisition, recording, organization, retrieval, display, and dissemination of information. Today the term usually refers to computer-based operations. and e-commerce services provider focused on the nutrition and dermatological areas of the extended care market, which includes long-term care long-term care (LTC), n the provision of medical, social, and personal care services on a recurring or continuing basis to persons with chronic physical or mental disorders. and home care. Through it's operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , CliniCon services approximately 450 profit centers of long term care operators, home care operators, institutional pharmacies, third party providers and manufactures in 42 states in the U.S. For more information contact: James B. Creason at 615/595-6335, extension 222 or email to jcreason@clini-con.com. |
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