SOURCE: American CareSource Holdings

July 14, 2008 07:05 ET

American CareSource Holdings Signs Two New Client Agreements With Union Organizations in Midwest

DALLAS, TX--(Marketwire - July 14, 2008) - American CareSource Holdings, Inc. (AMEX: XSI) announced today that it has signed new client service contracts with Iron Workers Local 295 Trust Fund, representing Iron Workers throughout the state of Indiana, and Operative Plasterers & Cement Masons Local 692, representing Plasterers and Mason Workers in Northwest Indiana. Both Local #395 and Local #692 are Taft-Hartley Health/Benefits Welfare Trust Funds.

Private sector unionized employees, including the building and construction trades, can obtain comprehensive health and other benefits through Taft-Hartley funds, also referred to as multiemployer plans. Taft-Hartley funds create economies of scale cost-savings because of their central administration and the pooling of resources. Under the two agreements, American CareSource will make available its full range of ancillary care services to each Union's member base through a network of ancillary care providers.

Commenting on today's news, David S. Boone, Chief Executive Officer of American CareSource, stated, "Winning these two new accounts represents another important milestone for the Company. We are extending our reach into the important union market in the Midwest. We are honored to have been chosen by these two important Indiana-based unions to provide their growing constituencies with value added, affordable ancillary healthcare benefits as an enhancement to their current programs. These agreements testify to the high-quality reputation of American CareSource and over time, we are looking forward to these new contracts paving the way for additional relationships with other key union organizations across the country."

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.

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