FOR IMMEDIATE RELEASE
Contact: Ed Domansky
Director, Corporate Communications
(770) 994-4579
Atlanta Business Chronicle Honors Atlanta's Top 50 Pacesetters of the Year
ATLANTA, April 15, 2005 -- LogistiCare is proud to announce that today it was recognized by the Atlanta Business Chronicle for ranking in the top 15 of Atlanta’s 50 Fastest-Growing Private Companies in 2004. Coming in at No. 14, LogistiCare earned its spot by showing 91 percent growth from 2002 to 2004 and posting 2004 revenues of $221 million.
The Pacesetter Awards are presented annually by the Chronicle to 50 private companies based in the 20-county metro Atlanta area that have experienced two-year growth in sales of more than 50 percent and 2004 revenues between $1 million and $300 million.
"This is a proud accomplishment for all of us at LogistiCare," said John Shermyen, president and chief executive officer of LogistiCare. "I knew from the beginning, just 7 years ago, that we could grow this company and expand the transportation management model. Everyone at LogistiCare shares in this award, because our success is truly a team effort."
The scope of LogistiCare’s business has grown consistently since its beginnings in 1997. The company now has operations in 11 states and the District of Columbia. Proud accomplishments include taking over operations for the entire state of Virginia on just five days notice in 2000 and being asked by the state of Colorado in October 2004 to step in and help improve the Medicaid non-emergency medical transportation (NEMT) process for eight counties in the greater-Denver area.
With technology as its foundation, the company's proprietary information management system, LogistiCADSM – is the only existing software system that provides all the capabilities needed to manage the processing and delivery of efficient, high-quality logistics services in one integrated application, without requiring interfaces between different software components.
Capabilities include: taking reservations, managing call center operations, eligibility verification, compliance tracking, complaint handling, assigning and dispatching service work, processing payments to third-party business partners, management reporting, scheduling and timekeeping for employees along with a host of other features.
"Explaining our business model and demonstrating its efficiencies both from a cost and service quality perspective has been an education process," added Shermyen. "Modifying behavior and thoughts is never easy; but the results speak for themselves, and we foresee continued growth into the future."
Shermyen explained further that he continues to be very optimistic about LogistiCare’s 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.
Headquartered in Atlanta, LogistiCare is the nation's leading provider of specialized transportation network management. The company's government clients include state Medicaid agencies, Medicare HMOs, 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 1,700 transportation companies that deliver more than 13 million trips to customers annually.
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