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OCCUSYSTEMS FORMS JOINT VENTURE WITH COLUMBIA/HCA IN TUCSON; ENTERS NEW MARKET WITH ACQUISITION OF CENTER IN FLAGSTAFF.


DALLAS--(BUSINESS WIRE)--Dec. 21, 1995--OccuSystems, Inc. (Nasdaq/NM: OSYS) today announced that it has formed a joint venture with El Dorado El Dorado, legendary country of South America
El Dorado (ĕl`dərä`dō, –rā`–) [Span.,=the gilded man], legendary country of the Golden Man sought by adventurers in South America.
 Hospital and Medical Center in Tucson, Arizona Tucson (pronounced /ˈtusɑn/, Spanish: Tucsón [tuk'son] , which is owned by Columbia/HCA Healthcare Corporation (NYSE NYSE

See: New York Stock Exchange
: COL col (kol) a depression in the interdental tissues just below the interproximal contact area, connecting the buccal and lingual papillae.

col
n.
), to establish a network of occupational health centers in the Tucson area. OccuSystems currently owns one center in Tucson specializing in work-related injuries and will contribute that center to the new venture, while El Dorado will contribute two centers also located in the area. OccuSystems will own a 51% interest in the new venture, which is expected to have annual revenues of approximately $2.7 million, and will receive a management fee based on the venture's net revenues.

Commenting on the announcement, John K. Carlyle, President and Chief Executive Officer of OccuSystems, said, "This new joint venture, our first with a national healthcare organization, underscores our strategy to form alliances with strong partners in key markets. We believe this new venture will benefit from our exclusive focus on occupational healthcare and will be solidly positioned in the market because of the expanded presence and increased visibility made possible through our affiliation with El Dorado."

Carlyle also announced that OccuSystems has acquired an occupational healthcare practice in Flagstaff, Arizona
This article is about the U.S. city in the state of Arizona. For other uses, see Flagstaff (disambiguation).
Flagstaff is a city located in northern Arizona, in the southwestern United States.
, the last major market in the state not previously served by the Company. This center, purchased effective December 1, 1995, represents OccuSystems' tenth in Arizona and is expected to contribute $1.2 million annually to the Company's revenues. "This additional center gives us a statewide presence in Arizona and greatly strengthens our ability to serve employers that require broad geographic coverage due to multiple locations or for the convenience of their employees," Carlyle added.

OccuSystems is the nation's largest physician practice management company focusing on occupational healthcare. OccuSystems provides the management, facilities, administrative and technical support, case management, physical therapy services and other ancillary Subordinate; aiding. A legal proceeding that is not the primary dispute but which aids the judgment rendered in or the outcome of the main action. A descriptive term that denotes a legal claim, the existence of which is dependent upon or reasonably linked to a main claim.  services necessary to establish and maintain a fully integrated network A network that supports both data and voice and/or different networking protocols. See converged network and new public network.  of occupational healthcare providers. OccuSystems currently manages the practices of 128 physicians in the Company's 72 occupational healthcare centers located in 21 markets in 12 states.

CONTACT: OccuSystems, Inc., Dallas

James M. Greenwood Greenwood.

1 City (1990 pop. 26,265), Johnson co., central Ind.; settled 1822, inc. as a city 1960. A residential suburb of Indianapolis, Greenwood is in a retail shopping area. Manufactures include motor vehicle parts and metal products.
, 214/484-2700
COPYRIGHT 1995 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1995, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 21, 1995
Words:356
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