NationsHealth and CIGNA Extend Preferred Vendor Agreement Through 2012
Posted on Wed, May. 07, 2008
SUNRISE, Fla. --
NationsHealth, Inc. (OTCBB:NHRX) ("NationsHealth" or the
"Company") today announced that NationsHealth and CIGNA have amended
and restated the agreement under which the Company provides services
for CIGNA's Medicare Rx Medicare Part D Prescription Drug Plan. The
amended and restated agreement extends the term through September 30,
2012, with automatic renewals for additional one-year periods
thereafter.
NationsHealth's Chief Executive Officer, Dr. Glenn M. Parker,
commented, "CIGNA's extension of the agreement through 2012 speaks to
the relationship's ongoing success. We are honored to have CIGNA as a
major client of our Insurance Services division for years to come, and
we look forward to providing CIGNA and their members with continuous
service excellence. We hope to build upon this successful
collaboration over the next four and half years as CIGNA expands their
Medicare product offerings."
About NationsHealth, Inc.
NationsHealth seeks to improve the delivery of healthcare to
Medicare and managed care beneficiaries by providing medical products
and prescription related services. NationsHealth provides home
delivery of diabetes supplies and insulin pumps, medications and other
medical products to patients across the nation. In addition to its
medical products business, NationsHealth also provides education,
marketing, enrollment and patient service to insurers offering
Medicare Part D prescription drug plans and other Medicare insurance
coverage. NationsHealth has an agreement with CIGNA to service its
Medicare Part D prescription drug plans nationally. For more
information, please visit http://www.nationshealth.com.
This press release contains forward-looking statements about
NationsHealth, including statements regarding management initiatives
and new product and market opportunities, none of which should be
construed in any manner as a guarantee that such results will in fact
occur. In addition, other written or oral statements that constitute
forward-looking statements may be made by us or on our behalf.
Forward-looking statements are statements that are not historical
facts, and in some cases may be identified by the words "anticipate,"
"project," "expect," "plan," "intend," "may," "should," "will," and
similar words or phrases. Such forward-looking statements, based upon
the current beliefs and expectations of NationsHealth's management,
are subject to risks and uncertainties, which could cause actual
results to differ from the forward-looking statements. The following
factors, among others, could cause actual results to differ from those
set forth in the forward-looking statements: our ability to
successfully maintain our Insurance Services segment, our ability to
maintain our existing customer base; our dependence on Medicare
reimbursement; changes in Medicare and Medicaid and any other state or
national-based reimbursement programs, including the results of
competitive bidding for durable medical equipment and supplies; our
customers' desire to take advantage of our Part D services;
uncertainty in our costs incurred in administering the Part D program;
changing interpretations of generally accepted accounting principles;
outcomes of government reviews of NationsHealth's business practices;
inquiries and investigations and related litigation; our exposure to
product liability in excess of our insurance coverage; continued
compliance with government regulations; legislation or regulatory
requirements or changes adversely affecting the businesses in which
NationsHealth is engaged; timing and market acceptance of new products
sold by NationsHealth; our ability to raise the capital we will need
to sustain our operations; general economic conditions; and
geopolitical events, regulatory changes and other risks and
uncertainties described in NationsHealth's Annual Report on Form 10-K
for the year ended December 31, 2007, and NationsHealth's other
reports it has filed with the Securities and Exchange Commission. The
information set forth herein should be read in light of such risks.
NationsHealth cautions investors not to place undue reliance on the
forward-looking statements contained herein. These statements speak
only as of the date of this press release and, except as required by
applicable law, NationsHealth assumes no obligation to update the
information contained herein.
NationsHealth, Sunrise
Timothy Fairbanks, CFO, 954-903-5018
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