SOURCE: Curative Health Services

June 27, 2005 12:00 ET

Curative Health Services Announces Strategic Alliance With PharmaCare

NASHUA, NH -- (MARKET WIRE) -- June 27, 2005 -- Curative Health Services, Inc., (NASDAQ: CURE), announced today that it has signed a strategic alliance with PharmaCare Management Services, Inc., CVS Corporation's (NYSE: CVS) pharmacy benefit management company. The agreement makes Curative the preferred provider for specialty home infusion services for PharmaCare's customer base, including providing nutrition support, anti-infective therapies, pain management, immunoglobulin therapy (IVIG), chemotherapy, hydration therapy and factor products for bleeding disorders.

PharmaCare Specialty Pharmacy serves patients with complex pharmaceutical needs, and offers a variety of advanced services such as medication adherence monitoring, expert medication counseling, drug interaction monitoring, reimbursement assistance and patient counseling and education programs. Through this alliance, PharmaCare can provide clients with full service specialty products and home infusion.

All Curative infusion services and patient care will be offered through its 46 Critical Care Systems branded branch pharmacies located across the United States.

"We are truly excited about our new strategic alliance with PharmaCare," said Paul F. McConnell, President and Chief Executive Officer of Curative. "This relationship allows Curative to provide our exceptional patient care and customer service to an entirely new group of patients, while expanding the breadth of services PharmaCare can provide to their customers. It is a relationship that will benefit all that are involved."

About Curative Health Services

Curative Health Services, Inc. seeks to deliver high-quality care and clinical results for patients with serious or chronic medical conditions.

The Specialty Infusion business, through its national footprint of local pharmacy branches, provides products, related clinical services and disease management support to patients with chronic or severe conditions such as hemophilia and other bleeding disorders, chronic or severe infections, gastrointestinal illnesses that prohibit oral digestion and other severe conditions requiring nutritional support, immune system disorders and cancer.

The Wound Care Management business is a leader in the area of disease management specializing in chronic wound care management. The Wound Care Management business manages, on behalf of hospital clients, a nationwide network of Wound Care Center® programs that offer a comprehensive range of services for treatment of chronic wounds.

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About PharmaCare Management Services, Inc.

PharmaCare is one of the largest pharmaceutical benefit management companies in the country. PharmaCare helps large employers, managed care organizations, insurance companies, unions and government agencies make safe, cost effective drug decisions for over 30 million Americans. The company's comprehensive PBM services include fully integrated, state-of-the art mail-service pharmacies and one of the largest specialty operations in the country. PharmaCare fills prescriptions at more than 56,800 retail pharmacies, located in all 50 states, and in nearly every city. PharmaCare is a wholly owned subsidiary of CVS Corporation (NYSE: CVS).

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks associated with our acquisition of Critical Care Systems including, but not limited to, integration risks and costs, risks of client retention, and risks associated with the operations of the acquired business, as well as risks in our current businesses such as the substantial level of indebtedness incurred in connection with the acquisition of Critical Care Systems, the potential for termination or non-renewal of a material number of contracts, an inability to obtain new contracts, changes in government regulations relating to the Company's Specialty Infusion or Wound Care Management businesses, changes in the regulations governing third party reimbursements for the Company's services, manufacturing shortages of products sold by Curative's Specialty Infusion business, the impact of competitive products and pricing, the ability to maintain pricing arrangements with suppliers that preserve margins, the seasonality and variability of operating results, the Company's ability to implement its strategies and achieve its objectives and the other risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission. Readers of this release are referred to the Company's Annual Report on Form 10-K for the year ending December 31, 2004, for further discussion of these and other risk factors that could affect future results.

Contact Information

  • Contact:
    Sean Mahoney
    Investor Relations
    Curative Health Services
    Critical Care Systems, Inc.
    Email Contact