SOURCE: Curative Health Services

August 01, 2005 10:30 ET

Curative Health Services Signs Contracts to Open 12 New Wound Care Center® Programs

NASHUA, NH -- (MARKET WIRE) -- August 1, 2005 -- Curative Health Services, Inc., (NASDAQ: CURE), the nation's pioneer and leader in wound management services, today announced the signing of 12 Wound Management Program(SM) contracts to date in 2005. These 12 hospitals, located in California, Georgia, Indiana, Kentucky, Missouri, New Mexico, North Carolina, Ohio, and Texas, have partnered with Curative to offer state-of-the-art outpatient Wound Care Center programs, and in many cases other continuum of care services, to the communities they serve. Each location will offer advanced technologies and proven clinical protocols in the treatment of chronic, non-healing wounds.

Curative's unique continuum of wound care service meets patient needs in different sites of service, and attracts heightened interest from hospitals looking to build their business clinically and financially. "We saw value in moving from a wound care approach centered on just hyperbaric oxygen therapy (HBOT), to the comprehensive Wound Management Program that Curative offers including HBOT," said Mark Lisa, Chief Operating Officer of Doctors Hospital in Laredo, Texas. The Laredo Wound Care Center is scheduled to open in late 2005.

These new Curative network members add to what is already the largest network of Wound Care Center programs in the United States. "The signing of these new contracts is a testament to the value and level of care and service we provide on behalf of the hospital, their patients, and physicians in the communities in which we are located," said Paul F. McConnell, President and Chief Executive Officer of Curative. "We are thrilled to partner with these prestigious hospitals, many of whom are leaders in their respective markets. In addition to the contracts already completed, our pipeline of new contract prospects looks very encouraging for the remainder of the year."

"Curative's Wound Care Management business has been very active in implementing new programs in the first six months of the year," said Roy McKinley, Senior Vice President of Curative. "We've opened nine Wound Care Center programs to date, five HBOT programs, and two each in the inpatient acute care and post-acute care settings, with 21 active implementations underway across these program categories."

"Our Wound Care Center opening was a success, both in terms of days-to-opening and the numbers of patients seen at the center the week we opened," said Steve Hadzima, Vice President and Chief Medical Officer of Christian Hospital in St. Louis. "We fully expect our Wound Care Center to provide high-level, possibly life-changing care for our patients in the future." The Christian St. Louis Wound Care Center opened on June 2, 2005.

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 Critical Care Systems' 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, cancer and susceptibility to respiratory syncytial virus.

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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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
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