Advanzeon Solutions, Inc. Elects Gerard T. Smith as its Chief Operating Officer
TAMPA, Fla., April 7, 2015 /PRNewswire/ -- Advanzeon Solutions, Inc. (OTCBB: CHCR) ("Advanzeon" or the "Company"), which provides behavioral health, substance abuse and pharmacy management services, as well as sleep apnea programs, to employers, Taft-Hartley health and welfare funds and managed care companies throughout the U.S., announced today that Gerard T. Smith has agreed to join the Company as its new Chief Operating Officer (COO), effective immediately. Mr. Smith has also agreed to serve as the COO of Pharmacy Value Management Services, Inc. (PVMS), the Company's wholly owned subsidiary in pharmacy management services, as well as sleep apnea programs (the Company and PVMS will collectively be referred to as the "Company").
As the Company's COO, Mr. Smith's primary responsibility will be coordinating the Company's day-to-day operational activities and systems, nationwide. The Company has recently taken on what management believes will be a substantial new volume of business, and it will be Mr. Smith's responsibility to develop the systems necessary for implementation. As a first step in this regard, Mr. Smith has already made arrangements to increase the Company's physical facilities by approximately 10% and has commenced the process of hiring additional support staff to accommodate the new volume of business already acquired by the Company as well as the growth anticipated by management to occur rapidly across all facets of the Company's business model.
Mark Heidt, President of the Company, stated, "We actively recruited Mr. Smith, in part, on the basis of his proven leadership qualities, background, practice savvy and drive to create and deliver the value promised to our customers and shareholders. Mr. Smith has over three decades of senior management experience in healthcare services, having operated several large, multi-faceted, long-term care systems. Most recently, Mr. Smith was the CEO/Executive Director of the Association for Neurologically Impaired Brain Injured Children (ANIBIC) where he supervised a staff in excess of 150 individuals and presided over a 350% increase in revenues. He holds a Masters degree from New York University in Industrial Organizational Psychology."
Mr. Smith stated, "I am extremely excited to join the Advanzeon family of companies. The team that has been assembled at Advanzeon provides an amazing platform to successfully capture the substantial opportunities in Sleep Apnea Services, Pharmacy Benefits Management, Behavioral Health, and synergistically-related opportunities in the health care space. I look forward to actualizing this awesome potential." Mr. Smith further stated, "I have chosen to join Advanzeon amidst a multitude of lucrative opportunities available to me. I have done so because I am fully convinced that Advanzeon is poised for substantial short-term growth as well as sustained long-term growth in this space. The upside potential of the company is extremely attractive and has proved to be a major turning point in my decision."
About Advanzeon Solutions, Inc.
Established in 1969, Advanzeon provides behavioral health, substance abuse and pharmacy management services, as well as sleep apnea programs, for employers, Taft-Hartley health and welfare Funds, and managed care companies throughout the United States. Headquartered in Tampa, Florida, the Company focuses on personalized attention, flexibility, a commitment to high-quality services and innovative approaches that address both the specific needs of clients and changing healthcare industry demands. For more information, please call 813-288-4808 or visit our website at www.advanzeon.com.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the current beliefs and expectations of the Company's management, reflect numerous assumptions, and are subject to significant risks and uncertainties, many of which are beyond the Company's control. If any of these underlying beliefs, expectations or assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.
These risk factors include, among others, the ability of the Company to maximize its market share with new pharmacy initiatives, the ability of the Company's new pharmacy cost-savings program to guarantee a 10% or more reduction in pharmacy costs, our ability to achieve expected results from new business and to revolutionize the pharmacy sector of the healthcare industry, the ability to obtain a performance bond on satisfactory terms, the ability of the Company's pharmacy program to promote greater medication adherence without restricting access to needed medications, technological advances, challenges in development of new products and services, new products and services developed by competitors, the Company's ability to provide superior patient care while increasing its business and margins as a result of implementing its pharmacy cost-savings program, general industry conditions and competition, general economic factors, global trends toward health care cost containment, the effect of governmental regulation, including pharmaceutical industry regulation, insurance regulation and health care legislation, varying trends in member pharmacy utilization, increases or variations in cost of care, seasonality, our ability to manage healthcare operating expenses, the profitability (if any) from capitated pharmacy contracts or other products, and the Company's ability to obtain additional financing.
Advanzeon undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additional risk factors that could cause results to differ materially from those described in the forward-looking statements can be found in the Company's most recent Annual Report on Form 10-K and the Company's other filings with the Securities and Exchange Commission (SEC), which are available at the SEC's website at www.sec.gov.
SOURCE Advanzeon Solutions, Inc.
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