Community Medical wins contract with city of Newark, NJ to provide transportation services to city seniors.YONKERS, NY--(BUSINESS WIRE)--January 16, 1997-- Paratransit Contract with Union County, NJ Renewed Community Medical Transport, Inc. (Nasdaq National Market:CMTI CMTI Clean Manufacturing Technology Institute CMTI Central Machine Tools Institute (Bangalore, India) ), a leading provider of comprehensive medical transportation services in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and New Jersey, today announced that its Elite Ambulance and Medical Coach, Inc. ("Elite") subsidiary, based in Orange, New Jersey, has been awarded a one year contract from the City of Newark, New Jersey to provide transportation services to the city's senior citizens. This is the first direct contract between Elite and a New Jersey municipality MUNICIPALITY. The body of officers, taken collectively, belonging to a city, who are appointed to manage its affairs and defend its interests. and represents the successful marketing efforts Community Medical has implemented since its acquisition of Elite in August 1996. Effective immediately, Community Medical will operate city-owned vehicles to provide transportation to senior citizens from their homes to medical and other destinations. Originally bid as a three month trial contract, the City of Newark has extended Elite's contract period to one year. The Company also announced that its contract with Union County, New Jersey Union County is a county located in the U.S. state of New Jersey. As of the 2000 Census, the population is 522,541. It is part of the New York Metropolitan Area. Its county seat is Elizabeth6. to provide wheelchair accessible van Wheelchair accessible vans encompass a range of vehicles that have been modified to allow access by individuals who are in wheelchairs. The typical modifications performed are lowering the floor and adding a ramp so the chair can be rolled into the van or adding a powered lift that services has been renewed for an additional one year period, with renewal options for 1998 and 1999. Originally commenced on January 1, 1996, the Union County contract is expected to generate annual revenues of approximately $1.3 million. Dean Sloane, 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. of Community Medical, noted, "The success of our paratransit program in Union County was significant in the awardment of the Newark contract. Providing municipal paratransit services allows Community to generate predictable, profitable revenue without an investment in fleet and also broadens our Company's exposure in new and additional markets. The Newark contract demonstrates the type of diversified growth we are achieving to complement our acquisition strategy." All forward looking information are estimates by the Company's management and are subject to various risks and uncertainties that may cause results to differ from management's current expectations. Such factors include the Company's ability to close pending acquisitions; changes in healthcare regulations and reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. policies; increased competition; and other risks as detailed from time to time in the Company's SEC reports and filings. Community Medical Transport, Inc. currently provides medical (emergency and non-emergency) and other specialized transportation services in New York and New Jersey. The Company is dedicated to administering, managing and servicing the transportation needs of healthcare facilities, managed care providers and municipalities. Whether provided as a single transport or in a managed transportation program, Community Medical's services will be offered at fees that help its customers meet their cost containment cost containment, n the features of a dental benefits program or of the administration of the program designed to reduce or eliminate certain charges to the plan. objectives, with sensitivity to those patients in its care. CONTACT: Community Medical Transport, Inc. Dean L. Sloane, President & CEO (914) 963-6666 or CMTI's INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. COUNSEL: The Equity Group Inc. Tamara Ehlin (212) 836-9607 |
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