SOURCE: American CareSource

September 26, 2007 17:05 ET

American CareSource Holdings Promotes David S. Boone to Chief Executive Officer

DALLAS, TX--(Marketwire - September 26, 2007) - American CareSource Holdings, Inc. (AMEX: XSI) announced today that David S. Boone has been promoted to the position of Chief Executive Officer of the Company, effective immediately. Mr. Boone had previously served as Chief Operational Officer and Chief Financial Officer of American CareSource, and will retain the title of Chief Financial Officer until a replacement is appointed.

Mr. Boone, 47, succeeds Wayne A. Schellhammer, who resigned as President and Chief Executive Officer of the Company in July 2007. Mr. Boone has been managing the day-to-day operations of the Company since that time.

Commenting on today's news, Edward B. Berger, Executive Chairman of the Board of Directors of American CareSource, stated, "It is with great pride that we announce David's promotion to Chief Executive Officer. David has been an integral part of the executive management team since he joined the Company in 2005, and has played a key role in generating new business, shaping our growth strategy and achieving our financial milestones. With such an intimate knowledge of our operations, and his contributions to our recent robust growth, we are excited to name David to the helm of American CareSource."

Mr. Boone noted, "I am honored to be named as Chief Executive Officer of American CareSource, and am committed to growing our client base, enhancing our reputation in the industry, and continuing to broaden the range of ancillary healthcare services and value we provide to the marketplace."

Mr. Boone joined American CareSource as Chief Financial Officer in June 2005 and was promoted to Chief Operating Officer in December of 2005. From 2001 to 2005, he was Senior Vice President of Finance for Belo Corporation, a NYSE-listed media company. From 2000 to 2001, he was Vice President of Corporate Development for Safeway Corporation in Pleasanton, California. In addition, Mr. Boone has served in executive positions with Frito-Lay, Inc., Kraft General Foods and CIGNA HealthPlan, and has served as a consultant for the Boston Consulting Group. Mr. Boone received a B.S. in accountancy from the University of Illinois and an MBA from the Harvard Graduate School of Business Administration.

About American CareSource Holdings, Inc.

American CareSource Holdings, Inc., the first national, publicly traded ancillary care network services company, offers a comprehensive national network of more than 24,000 ancillary provider sites. Through its product offerings, American CareSource helps its clients reduce the cost of ancillary services rendered through its network of providers in more than 30 service categories. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments.

Any statements that are not historical facts contained in this release are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, and intellectual property rights, and the outcome of competitive products, risks in product development, the results of financing effort, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.

Contact Information

  • Contact:
    David S. Boone
    Chief Executive Officer
    American CareSource Holdings, Inc.
    Tel: 972-308-6830