SOURCE: American CareSource

June 30, 2008 15:10 ET

American CareSource Holdings Signs New Client Agreement With Viant Holdings

DALLAS, TX--(Marketwire - June 30, 2008) - American CareSource Holdings, Inc. (AMEX: XSI) announced today it has signed a new agreement with Viant Holdings, Inc. to provide ancillary care services to Viant's Beech Street payor client base. Beech Street is one of the largest independent Preferred Provider Organization (PPO) networks in the nation, offering comprehensive healthcare management services and custom healthcare cost containment solutions for clients across the country.

American CareSource expects to realize an estimated $25 - $30 million in annual revenue once the agreement is fully implemented. For 2008, the Company expects to realize $4 - $8 million in additional revenue.

David S. Boone, Chief Executive Officer of American CareSource, stated, "We are proud to be selected by one of the premier national PPO networks and health services companies to be their partner in addressing ancillary service access and cost. We are looking forward to working closely with the Viant team to deliver a custom, best-in-class ancillary services network."

Commenting on the announcement, Viant Holdings Chief Executive Officer Daniel J. Thomas, said, "American CareSource Holdings will create significant cost savings opportunities for our clients and we are delighted to be able to add their services as one of our product offerings."

About Ancillary Healthcare Services

American CareSource provides ancillary healthcare services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.

About American CareSource Holdings, Inc.

American CareSource Holdings, the first national, publicly traded ancillary care network services company offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. 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. For additional information, please visit www.anci-care.com.

About Viant Holdings, Inc.

Viant delivers comprehensive cost control strategies to payers in the health care industry through its comprehensive suite of PPO network, network management, pre-payment and post-payment services. Viant Networks (Beech Street, Texas True Choice, ppoNEXT), has been an industry leader for more than 16 years, focusing on innovative positive-sum contributions through Timely Payment, Accurate Payment, Fair Payment, and Customized Solution product sets. Viant's clients include leading carriers: Blues plans, TPAs and self-insured employers who rely on Viant's professional expertise and sophisticated technologies to maximize savings opportunities and improve business processes. Since 1990, Viant has developed effective solutions for both in-network and out-of-network claims that have generated significant savings for our clients and their customers. For example, in 2006 alone, Viant saved its clients $2.3 billion dollars. For additional information, please visit www.viant.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

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 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