INTEGRATED HEALTH SERVICES SIGNS CONTRACT WITH METROPOLITAN LIFE INSURANCE COMPANY
INTEGRATED HEALTH SERVICES SIGNS CONTRACT
WITH METROPOLITAN LIFE INSURANCE COMPANY
HUNT VALLEY, Md., Nov. 18 /PRNewswire/ -- Integrated Health Services, Inc. (IHS) (NASDAQ: IHSI) announced today the signing of a national contract with Metropolitan Life Insurance Company (MetLife) to provide a wide range of medical services to its subscribers. Details of the contract were not disclosed.
Robert N. Elkins, M.D., president, chairman and CEO of IHS, stated, "We believe that IHS was chosen for the high quality, cost-effective, subacute care provided by our Medical Specialty Units (MSUs). Because we provide subacute services in an alternative site, the cost is significantly less than hospital-based care." Elkins added, "We plan that this contact with MetLife will be the first of many national and regional contracts."
MetLife has over 80 case managers and 700 utilization review nurses strategically located in 19 medical management centers across the United States.
Integrated Health Services' strategy is to use geriatric care facilities as an alternative site to provide a wide range of medical and rehabilitative services which traditionally have been provided in the acute care hospital. The company provides specialized subacute care such as post operative care, ventilator therapy and neuro rehabilitation through MSUs located within its facilities. Integrated Health Services currently operates 41 geriatric care facilities and 19 MSUs with a combined total of over 5,500 beds.
/CONTACT: Robert N. Elkins, M.D., chairman, president & CEO of Integrated Health Services, 301-584-7050; and Susan A. Noonan or Mark Friedmann of Noonan/Russo Communications, 212-979-9180, for IHS/
(IHSI) CO: Integrated Health Services, Inc.; Metropolitan Life
Insurance Company ST: Maryland IN: HEA INS SU: CON JT -- NY008 -- 1215 11/18/91 08:11 EST