FOR IMMEDIATE RELEASE
Contact: Ed Domansky
Director, Corporate Communications
(770) 994-4579
Speaks at UBS Global Healthcare Services Conference
NEW YORK, Feb. 16, 2005 – LogistiCare president and chief executive officer, John Shermyen, today spoke to investors, analysts and portfolio managers at the 15th annual UBS Global Healthcare Services Conference about ways the company’s managed medical access model helps enhance access to healthcare and contain costs.
Shermyen was invited, along with senior executives from other health-related firms – including managed care, pharmaceuticals, hospital management and senior living – to present at this year’s event at the Plaza Hotel in New York City.
“Our business model enables our clients to improve access to vital healthcare services, better manage their costs and improve service quality,” Shermyen explained to his audience. “We take on all the risk and handle all the back-office functions. And, at a time when state Medicaid budgets and operational costs continue to increase, we believe that our history speaks for itself. We have saved states millions of dollars through the skill and experience we have in transportation management.
“Many of our contracts are with state governments that don’t always give the highest consideration to healthcare transportation when looking at their budgets. We have had to find creative ways to offer payers decreased costs and increased service.
“Recognizing and addressing financial concerns of transportation providers also is something that distinguishes LogistiCare. We offer support through fuel reimbursements, vehicle insurance and no-interest loans to help providers maintain high quality during difficult financial times.”
Shermyen continues to be very optimistic about LogistiCare’s continued growth, inspired to a great degree by last year’s successful transaction that saw Charterhouse Group, Summit Partners and AlpInvest take the role as lead investors.
LogistiCare’s focus in 2005 is to implement solutions for providing access to healthcare for the chronically ill Medicaid and Medicare populations.
Headquartered in Atlanta, LogistiCare is the nation's leading provider of specialized transportation network management. The company's government clients include state Medicaid agencies, school boards, transit and paratransit authorities. Health care sector clients include hospital systems and many of the nation's largest managed care organizations.
With its market innovation, proprietary software, and proven record of creating budget stability and program integrity, LogistiCare is well known as the leader in improving non-emergency transportation programs. On an annual basis, the company manages a national network of more than 1,750 transportation companies that deliver more than 13 million trips to customers annually.
