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Coastal Physician Group Inc. Announces North Broward Hospital District Contract Renewal.


DURHAM, N.C.--(BUSINESS WIRE)--June 7, 1999--

-Major Contract Extended Through 2003-

Coastal Physician Group, Inc. (OTC OTC

See: Over-the-counter.


OTC

See over-the-counter market (OTC).
:ERDR) ("Coastal") announced today that the four hospital North Broward Hospital District in Broward County, Florida Broward County is a county located in the U.S. state of Florida. As of 2000, the population is 1,623,018; this makes it the second most populated county in the state. According to 2006 U.S. Census estimates, its population had grown to 1,787,636 [1].  has renewed its physician agreements with Coastal Physician Services, Inc., a 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.
 of Coastal.

These agreements extend Coastal's management and staffing services for the District's Emergency Departments and Pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children.

pe·di·at·ric
adj.
Of or relating to pediatrics.
 practices through December 31, 2003.

Steven M. Scott, M.D., Coastal's President and Chief Executive Officer stated, "We are extremely pleased with the Commissioners' decision to extend this relationship for five years. This is a very positive reflection on Coastal's ability to continue meeting the high standards of the District. We look forward to working with the District in providing quality medical care to the people of northern Broward County as we have since 1982."

The Company stated that the agreements with The North Broward Hospital District comprise one of its largest physician agreements in the country. The agreements are expected to generate annual revenues in excess of $15 million while providing practice management services to approximately 55 physicians who see over 180,000 patients per year.

Coastal Physician Group, Inc. is an emergency medicine physician management company and provides certain core competencies to physicians and hospitals throughout 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. .

Forward-looking Information or Statements: Except for statements of historical fact, certain statements made herein are forward-looking in nature and are inherently subject to uncertainties. The actual results of the Company may differ materially from those reflected in the forward-looking statements based on a number of important risk factors, including, but not limited to: the level and timing of improvements in the combined operations of the Company's businesses; the possibility that the Company may not be able to improve operations or execute its strategy as planned; and other important factors discussed above under "Other Trends and Uncertainties" and disclosed from time to time in the Company's 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.
, Form 10-Q Form 10-Q

See 10-Q.
 and other Securities and Exchange Commission filings.
COPYRIGHT 1999 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1999, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1USA
Date:Jun 7, 1999
Words:332
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