CoMedco activates new management subsidiary to serve independently owned healthcare facilities.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Oct. 24, 1995--CoMedco Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). , Bulletin Board:CMDO CMDO Community Motivation and Development Organization (Peshawar, Pakistan) CMDO Canadian Maritime Defense Organization CMDO Contractor Managed Depot Operations ) announced today the commencement of activity by a new wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Medical Claims Affiliates Inc. (MCA MCA in full Music Corporation of America Entertainment conglomerate. It was founded in Chicago in 1924 by Jules Stein as a talent agency. In the 1960s it bought Decca Records and Universal Pictures, and today it produces films, music, and television shows. ), which will offer management services to independently owned healthcare facilities. MCA has already signed 15 clients for its services. CoMedco is a physician practice management company which acquires medical practices and specializes in providing healthcare and administrative services to physicians, including centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. billing, collection, insurance filings and practice management. In announcing the activation activation /ac·ti·va·tion/ (ak?ti-va´shun) 1. the act or process of rendering active. 2. the transformation of a proenzyme into an active enzyme by the action of a kinase or another enzyme. 3. of MCA, CoMedco chairman William M. Kirschner, said, "Now that we have proved we can dramatically improve the efficiency of the practices we already own, and are negotiating additional acquisitions, it is an appropriate step for CoMedco to offer its services to other healthcare facilities which are independently owned. We anticipate that MCA will contribute significantly to our rapid expansion." The MCA subsidiary will be managed by Mary Lachance as president, and Maureen Walsh and Awilda Rivera vice presidents, who together have more than 45 years experience in medical management practice. Mary Lachance, a director and officer of CoMedco, has been active in the medical billing and claims administration field for 15 years. Lachance is an all lines public insurance adjuster as well as a life and health insurance agent, and has conducted and participated in various seminars and conferences on medical insurance and claims processing. "Her more than 25 years experience in medical office management, her strong insurance orientation and medical office background give her an insight and experience in dealing with patients, their accounts and insurance company requirements that few companies have," Kirschner said. CONTACT: CoMedco Inc., Boca Raton William M. Kirschner, 407/997-6000 or Porter, LeVay & Rose Inc., L.B. Stauffer, 212/564-4700 |
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