Conmed Healthcare Management, Inc. Signs Agreement with City of Virginia Beach, Virginia
Conmed Healthcare Management, Inc. Signs Agreement with City of Virginia Beach, Virginia
Conmed Healthcare Management (AMEX:CONM)
Today : Monday 27 September 2010
Conmed Healthcare Management, Inc. (NYSE Amex:CONM), a leading full service provider of correctional facility healthcare services to county and municipal detention centers, today announced that it has signed a full-service agreement with the City of Virginia Beach, Virginia, for an initial three-year term with options for two one-year extensions at the City’s option. This contract with a new customer is expected to generate a base level of approximately $17.5 million in revenues for Conmed throughout the term of the contract, with the initial annual rate of approximately $3.5 million. The contract includes a full suite of services for the facility’s inmates including medical, dental, mental health and administrative staffing; pharmacy, laboratory and X-ray services; management of emergency room, hospitalization and other out-of-facility services. Additionally, a full electronic health record system will be implemented. Price increases are based on the Medical Services Consumer Price Index. The total inmate population of the City of Virginia Beach is approximately 1,350. The contract is effective October 1, 2010.
"We continue to be gratified by our expanded presence in Virginia and look forward to providing quality medical and mental health care services to our newest client, the City of Virginia Beach, which will be the sixth jurisdiction that we are serving in the state,” commented Dr. Richard Turner, Chairman and Chief Executive Officer of Conmed. “The new contract reflects our commitment to providing the quality and standard of care that exceeds expectations with our clients and allows them to achieve operational and budgetary efficiencies. We believe that our reputation for delivering efficient quality care resonated with the City during their contract awards process.”
About Virginia Beach, Virginia
Virginia Beach is an independent city located in the Hampton Roads metropolitan area of Virginia, on the Atlantic Ocean at the mouth of the Chesapeake Bay. Virginia Beach is the most populous city in Virginia and the 41st largest city in the United States, with an estimated population of 440,000 (as of 2008).
About Conmed
Conmed has provided correctional healthcare services since 1984, beginning in the State of Maryland, and currently serves county and municipal adult and juvenile correctional facilities in seven states, including Arizona, Kansas, Maryland, Oklahoma, Oregon, Virginia and Washington. For more information, visit us at www.conmedinc.com.
