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Press Release - American CareSource Holdings, Inc. (XSI-AMEX)
“If you look at a graph of what ancillary care spend looks like between 1980 and today, ancillary care spend in 1980 was roughly 25% of the overall healthcare spend at that point in time in the nation, today it represents north of 30% which makes it a nearly $600 billion market for services. It is taking a larger share of the pie and is expected to do so over time. For us we feel like we are uniquely positioned in the space. We are not aware of another business similar to ours...” - Steven J. Armond (XSI) (Interview published April 18, 2008)
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American CareSource Holdings President & CEO, David S. Boone, Named Ernst & Young Entrepreneur Of The Year(R) 2009 Award Winner in Southwest Area- North
DALLAS, TX--(Marketwire - July 06, 2009) -
American CareSource Holdings, Inc. (NASDAQ: ANCI) today announced that David S. Boone, its President and Chief Executive Officer, received the prestigious and coveted Ernst & Young Entrepreneur Of The Year® 2009 Award in the health services category in Southwest Area- North. According to LLP, the award recognizes the country's outstanding entrepreneurs who are building and leading dynamic, growing businesses. Mr. Boone was selected by an independent panel of judges, and the award was presented at a gala event at the Majestic Theater in Dallas, Texas, on June 27.
"This is truly an award for our entire company, not any one individual," said Mr. Boone. "This accomplishment is a reflection of the quality people that comprise American health care industry for the better.", our outstanding leadership team, and the culture we are creating. Most importantly, it is a direct result of the passion all of us have towards the goal of making health care more affordable and changing the
As President and Chief Executive Officer beginning in 2007, David Boone brought external credibility, passion, and a vision for the future to American CareSource. Borrowing on his health plan development past, his strategy execution experience, and his belief that analysis and analytics are important to the success of a company, Mr. Boone transformed American CareSource into a thriving, publicly traded company that topped the NASDAQ Capital Market performance charts in 2008.
Mr. Boone's core belief is that successful companies must have the right culture. At American CareSource Mr. Boone created an environment where every staff member believes in what the Company is doing -- saving the consumer money and changing the health care landscape. With his carefully cultivated management team -- the foundation of the Company's future success -- Mr. Boone's vision of the future now focuses on continuing American CareSource's rapid growth and further expanding its profitability and cash flow as the business scales.
The Ernst & Young Entrepreneur Of The Year® Awards celebrate their 23rd anniversary this year. The program honors entrepreneurs who have demonstrated exceptionality in such areas as innovation, financial performance and personal commitment to their businesses and communities.
"We are proud to recognize the achievements of David Boone," said Chris Abston, Ernst & Young LLP Entrepreneur Of The Year Program Director for Southwest Area- North. "Winners of the Entrepreneur Of The Year Award build leading businesses and contribute significantly to the strength of our region's economy. Their success helps our area grow stronger."
As a Southwest Area- North award winner, Mr. Boone is now eligible for consideration for the Ernst & Young LLP Entrepreneur Of The Year 2009 national program. Award winners in several national categories, as well as the overall national Ernst & Young Entrepreneur Of The Year® Award winner, will be announced at the annual awards gala in Palm Springs, California . The awards are the culminating event of the Ernst & Young Strategic Growth Forum, the nation's most prestigious gathering of high-growth, market-leading companies.
About Ancillary Care Services
Ancillary Care Services provides ancillary health care 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 . 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 over 3,000 ancillary service providers at more than 26,000 sites through its subsidiary, Ancillary Care Services. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of health care 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.
About Ernst & Young's Entrepreneur Of The Year® Awards Program
Ernst & Young's Entrepreneur Of The Year® Award is the world's most prestigious business award for entrepreneurs. The award makes a difference through the way it encourages entrepreneurial activity among those with potential and recognizes the contribution of people who inspire others with their vision, leadership and achievement. As the first and only truly global award of its kind, the Ernst & Young Entrepreneur Of The Year® Award celebrates those who are building and leading successful, growing and dynamic businesses, recognizing them through regional, national and global awards programs in more than 135 cities in 50 countries.
Founded and produced by Ernst & Young LLP, the Entrepreneur Of The Year Awards are pleased to have the and SAP America as national sponsors.
In Southwest Area-North, local sponsors include Smith, Frank & Partners, Stagen, First United Bank & Trust Company, D CEO Magazine, Fort Worth Business Press and The Journal Record.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:
Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or 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 demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic, political and regulatory conditions, the effect of competition, 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.
Steven J. Armond
Chief Financial Officer
American CareSource Holdings, Inc.
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