SOURCE: American CareSource

December 10, 2007 11:49 ET

American CareSource Holdings Signs New Client Agreement With Employee Benefit Management Corp.

DALLAS, TX--(Marketwire - December 10, 2007) - American CareSource Holdings, Inc. (AMEX: XSI) today announced that its Ancillary Care Services subsidiary has signed a Client Service Agreement with Employee Benefit Management Corp. (EBMC) to provide ancillary care services to EBMC's payor client base. EBMC is one of the largest and most experienced companies in the Midwest specializing in the management and servicing of self-funded benefit programs.

Under the agreement, American CareSource will provide an array of ancillary care services to EBMC's clients through its network of ancillary care providers. American CareSource expects to realize an estimated $2 million in additional annual revenue once the agreement is fully implemented.

Commenting on today's news, David S. Boone, Chief Executive Officer of American CareSource, stated, "We are delighted to have the opportunity to work with EBMC and to bring our broad array of services to their growing constituency. This new relationship will greatly expand our presence in the Midwest, an important geographical focus for our company.

"Additionally, this increases our penetration into the Third Party Administrator (TPA) market. This is an important target segment for us within the healthcare industry. Management is committed to building this portion of our business and is working aggressively to solidify additional TPA contracts, which we hope to announce in the coming months."

Renee Haas, Vice President of Employee Benefits Management Corp., stated, "EBMC is continually seeking products and services that offer our clients access to the highest quality healthcare providers at competitive pricing. Our partnership with American CareSource provides both and will enhance the value we deliver to our payor clients in 2008 and beyond."

About American CareSource Holdings, Inc.

American CareSource Holdings, 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.

About Employee Benefit Management Corp.

EBMC is one of the largest and most experienced companies in the Midwest that specializes in the management and servicing of self-funded benefit programs.

EBMC's whole approach to doing business is grounded in service and the building of lasting relationships. Our expertise and experience serves virtually every component in the benefits arena. EBMC offers superior claims administration services as well as Utilization Review, Case Management, Care Management, Disability Management, Flexible Spending, and COBRA services. EBMC employs a top of the line website where Human Resource Professionals and plan participants have access to their benefit information online. EBMC maximizes every benefit dollar spent in order to best serve the plan and the plan participant. We are well-equipped to serve as your off-site benefits team, as well as provide special consultation regarding complex issues and regulations.

It's EBMC's mission to consistently rise above the ordinary and to be more than a benefit management company. For more information contact EBMC at 1-614-766-5800.

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