SOURCE: I-trax
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January 22, 2008 10:19 ET
2007 a Healthy One, 2008 Off to Productive Start for I-trax
Company Has Most Active Year Yet for Sales and Site Openings
CHADDS FORD, PA--(Marketwire - January 22, 2008) - I-trax, Inc. (AMEX: DMX), the parent
company of CHD Meridian Healthcare and ProFitness Health Solutions, said
today that 2007 was its busiest to date for sales of workplace-based health
and fitness centers with more site openings than in any prior 12-month
period.
"We experienced double-digit growth in revenue, our operating performance
continued to improve and our pipeline is robust with significant multi-site
and multi-service opportunities," said Frank A. Martin, chairman of I-trax.
In 2007, I-trax's wholly owned subsidiary, CHD Meridian Healthcare, opened
a total of 32 new on-site health centers for 28 clients. Ten of those were
new clients, while the remaining sites were for existing clients. CHD
Meridian ended the year with 242 health centers for 108 clients in 36
states.
"The number of new clients that we added in 2007 is testament that our
investment in ground-breaking research is demonstrating the clear value of
workplace health services," Martin said.
Other highlights for I-trax in 2007 included finalizing the acquisition of
ProFitness Health Solutions of Shelton, CT. "Since the acquisition was
finalized, we have experienced substantial interest from existing clients
of both organizations in combining fitness, wellness and health services at
the workplace," continued Martin. "We believe that trend will gain even
more momentum in 2008."
Going into 2008, CHD Meridian Healthcare has commitments for an additional
26 sites to be opened in the coming months, not including any new business
added in fourth quarter 2007. "That includes three clients that have
committed to the integrated Primary Care and Pharmacy model," Martin said.
"We should see organic growth in net revenue of approximately 20 percent
and an additional 10 percent growth from the acquisition of ProFitness
Health Solutions and we will start to see the leverage in our business
model to substantially improve our profitability. We believe that in 2008,
we will exceed our investors' expectations for success."
About I-trax
I-trax is a leading provider of integrated workplace health and
productivity management solutions. Serving more than 150 clients at more
than 300 locations in the United States and Canada, I-trax offers on-site
health, fitness and wellness centers through its CHD Meridian Healthcare,
LLC and ProFitness Health Solutions, LLC subsidiaries that deliver primary
care, acute care corporate health, occupational health and pharmacy care
management services, as well as fitness and wellness programming and
integrated disease management programs. CHD Meridian is focused on making
the workplace safe, helping companies achieve employer of choice status,
and reducing costs while improving the quality of care received and the
productivity of the workforce. Managing employer-sponsored health centers
for over 40 years, some of CHD Meridian Healthcare's clients include: BMW,
Coors Brewing Company, Coushatta Casino Resort, Deutsche Bank, Eastman
Chemical, Fieldale Farms, Horizon Blue Cross Blue Shield of New Jersey,
Lowe's, Toyota and Unum. For more information, visit www.chdmeridian.com.
Safe Harbor Statement: Statements regarding aspects of I-trax's business
and its expectations as to the transaction with PFHS set forth herein or
otherwise made in writing or orally by I-trax may constitute forward
looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Although I-trax believes that its expectations are
based on reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results will
not differ materially from its expectations. Factors that might cause or
contribute to such differences include, but are not limited to, the ability
of I-trax to integrate the PFHS business successfully, demand for PFHS's
products and services, uncertainty of future profitability and changing
economic conditions. These and other risks pertaining to I-trax are
described in greater detail in I-trax's filings with the Securities and
Exchange Commission including those on Forms 10-K and 10-Q.