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NewsBot Date: July 6, 2005 02:14:36 PM
PHLH News Research Pacer Health, Stock Trading Message Board
Pacer Health Corporation Unveils New Web Presence
Pacer Health Corporation (OTCBB:PHLH), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, announced today that it has completed a major redesign of the company's website at http://www.pacerhealth.com.
In addition to new design elements that enhance both ease of use and visual appeal, the site now includes a careers section that allows healthcare professionals to apply for open positions directly on http://www.pacerhealth.com. For investors, the site contains up-to-the-minute stock information as well as a registration section that allows visitors to sign up for ongoing Pacer Health news updates.
"Pacer Health's new web presence will streamline our ongoing communications with various audiences - including investors, prospective employees, and the local communities we serve," said Tina Vidal, director of operations at Pacer Health. "We believe the new site effectively captures the feel of our business as well as our emphasis on quality patient care. It also contains new, more functional elements that improve the visitor's overall experience."
Pacer Health Corporation Acquires Option on 15 Acres in Georgia; Announces Plans to Build New Hospital
MIAMI
Pacer Health Corporation, Miami
Tina Vidal, 305-828-7660
tvidal@pacerhealth.com
Pacer Health Corporation (OTCBB:PHLH), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, announced today that it has acquired an option to purchase 15 acres of land adjacent to Interstate 20 in Greene County, Georgia. The land will be used to construct a replacement facility for Minnie G. Boswell Memorial Hospital, which Pacer Health has managed and operated since solidifying an agreement to purchase it on June 22, 2004.
An accredited JCAHO (Joint Commission on Accreditation of Health Care Organizations) facility, Minnie G. Boswell is comprised of a 25-bed acute care hospital and 29-bed skilled nursing facility primarily serving the residents of Greensboro, Georgia. Pacer Health is now finalizing the full acquisition of the hospital, pending review by the Attorney General of the State of Georgia.
Minnie G. Boswell Memorial Hospital's current facilities are located in Greensboro and were constructed in 1949. Though Pacer Health has committed substantial funds towards improving the property, the structure itself remains outdated.
Pacer Health has announced plans to build the replacement facility within the next three years on a foundation that is designed for growth, so as Greene County's resident population grows, the hospital will continue to provide for its changing medical needs. The new facility will be closer to the center of the county, adjacent to a major thoroughfare, and only about one-and-a-half miles outside of Greensboro. The new location is within three-and-a-half miles of the existing hospital and is located on the soon-to-be-paved Meadowcrest Road, just east of Highway 44 and facing I-20.
By building a newer facility and moving to a more central location, Pacer Health intends to retain a vast majority of the hospital's traditional patients, 85 percent of whom are Medicare or Medicaid recipients, while attracting many of the county's residents who live in retirement in the vicinity of nearby Lake Oconee.
"Today, we further our commitment to Greene County and its residents by announcing our plans to create a new, state-of-the-art hospital to meet their changing medical needs," said Rainier Gonzalez, chairman and CEO of Pacer Health. "Most importantly, this option agreement and all of our successes in Greene County this past year are the result of the leadership of the Greene County Commission and the Greene County Hospital Authority. Their commitment and genuine desire to improve healthcare in Greene County have been invaluable, not only to our company, but to the people they serve."
Tom Mayers, Greene County Hospital Authority Chairman, added, "I commend Pacer Health for acquiring the option to purchase the property for a new hospital. This demonstrates Pacer's commitment to providing quality healthcare to the citizens of the Greene County area well into the future. The option to purchase the property for a new hospital, within one year of assuming the management of Minnie G. Boswell Hospital, is an outstanding milestone and a proud event for everyone in the area. This is especially true for the employees and medical staff of Minnie G. Boswell, the Hospital Authority Board members, and the County Commissioners, who have all worked tirelessly to keep the hospital open and put it on solid footing to ensure the future of healthcare in Greene County. A new hospital with modern diagnostic and treatment equipment is vital to the long term quality healthcare of our growing area residents and visitors."
Pacer Health Corporation Reports First Quarter Profit and Revenue Growth
MIAMI
Pacer Health Corporation, Miami
Media Contact: Tina Vidal, 305-828-7660
tvidal@pacerhealth.com
or
Investor Relations Contact: Paul Lovito, 1-866-342-2700
According to financial statements filed Friday, May 20, Pacer Health Corporation (OTCBB:PHLH), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, has reported a net profit of $8,870.00 for the quarter ended March 31, 2005, compared to a net loss of $753,449.00 for the same period in 2004.
Pacer Health's profit for the quarter is derived from total revenue of $2,510,551.00, which includes net patient revenue of $2,210,551.00 from wholly owned facilities, and $300,000.00 in revenue from management fees. This compares to total income of $152,843.00 for the same period in 2004.
"Pacer Health is not only demonstrating the efficacy of its business model, but also that it can stay on course as a profitable company that creates value for its shareholders," said Rainier Gonzalez, chairman and CEO of Pacer Health. "Once we complete our planned acquisition in Georgia later this year, we will be on track to eclipse last year's revenue totals in 2005."
Last month, Pacer Health reported a net profit of $390,896.00 for the year ended December 31, 2004 and total revenue of $9,424,473.00 for that year. Because of the cyclical nature of the medical industry sectors in which Pacer Health operates, the company projects increases in operating profit for the fourth quarter of 2005.
Pacer Health Reports on Financial Turnaround and Capital Investments at South Cameron Memorial Hospital; $500,000 Commitment Results in More Efficient Operations and Substantial Improvements to Patient Care
MIAMI & CAMERON, La.
Pacer Health Corporation, Miami
Tina Vidal, 305-828-7660
tvidal@pacerhealth.com
Pacer Health Corporation (OTCBB:PHLH), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, reported today that it has completed its $500,000 infusion to improve operational efficiency and patient care at South Cameron Memorial Hospital as part of the company's overall restructure of the hospital and its facilities.
Pacer Health assumed management and operation of South Cameron Memorial Hospital just over one year ago, when the hospital was in financial distress. Shortly thereafter, Pacer completed its acquisition of the 49-bed hospital, which consists of 25 acute care beds as well as 24 psychiatric beds and a separate medical outpatient center at its off-site campus in Calcasieu Oaks.
The acute care hospital located in Cameron Parish, Louisiana, offers emergency room, in-patient, and skilled nursing services, as well as out-patient doctor's office services, to the residents of Cameron Parish and the area's several thousand oil and gas exploration personnel, commercial and recreational fishermen. South Cameron Memorial Hospital maintains sole community provider status in Cameron Parish.
Pacer Health reported a net profit for South Cameron Memorial Hospital of $49,360.00 for the three-month period ended March 31, 2004, compared to a net loss of $964,109.00 for the year ended December 31, 2003. These positive results reflect early measures taken by Pacer Health management to streamline hospital operations and reduce administrative costs following the company's acquisition of the hospital's assets and facilities during that quarter.
Meanwhile, in a 10KSB report filed last month, Pacer Health reported a companywide net profit of $390,896.00 for the year ended December 31, 2004. The company's profit for the year was derived from net patient revenue of $7,581,505.00 from wholly owned facilities, income from management fees, gains on debt settlement and other revenue. This compares to total income of $199,789.00 for the year ended December 31, 2003.
Over the past year, Pacer Health's commitments to South Cameron Memorial Hospital included an overhaul of the radiology suite at the hospital's main campus. South Cameron Memorial is now equipped with a General Electric x-ray machine and fluoroscopy machine, Kodak CR 500 system, and a Catella web distribution and CD image copy system - a high-tech upgrade that marks a dramatic improvement over the suite's previous capabilities. Patients now receive x-rays utilizing a completely digital format, so the patient, technician, and even a referring physician at a remote location can view the results in real time; and in the absence of x-ray film, results can be sent instantly to other healthcare providers via the Internet.
Two new analyzers have greatly enhanced the hospital laboratory, allowing it to keep current with the changing healthcare environment and the challenges of today's healthcare and CLIA regulations: A new Beckman Coulter Ac*T 5-diff-CP Hematology System has enabled the hospital to perform hematology testing more safely and offer more reliable results. A Dade Behring CA-560 Coagulation Analyzer, the latest technology in coagulation testing and therapeutic drug monitoring, is extremely accurate and fully automated, allowing the laboratory technologist to perform other vital testing while the analyzer does its work.
Pacer Health also has agreed to lease a Dade Behring Dimension Xpand HM Plus Chemistry Analyzer, the latest technology in chemistry testing, that will facilitate enhanced cardiac testing, thyroid testing, and diabetic monitoring. The new purchase will include a fully integrated Laboratory Information System that will allow the lab to monitor each analyzer and its individual quality control programs.
"Through careful planning and strategic purchases, Pacer Health brought South Cameron Memorial Hospital into the 21st century," said Leslie Trahan, Assistant Administrator at South Cameron Hospital, who had been employed with the hospital before it was acquired by Pacer Health. "The improvements not only help streamline operations, they give our patients and area physicians the assurance that they are utilizing a quality healthcare facility."
Minor purchases for South Cameron Memorial Hospital have included 24 Hill-Rom manual hospital beds and a 15-passenger transport van for the hospital's psychiatric unit; a 2002 GMC truck for the maintenance department; a commercial refrigerator and freezer for the hospital's dietary unit; and two Hill-Rom ER stretchers.
Pacer Health also has invested in obtaining highly qualified personnel to ensure that the hospital is operated appropriately and that every patient at the hospital receives the highest quality of patient care regardless of its rural location.
"Far more than simply keeping our hospital open, Pacer Health has removed the healthcare barriers set by our hospital's previous operators, literally breathing new life into our community," added Trahan.
Pacer Health Corporation Adds Manuel R. Llano as Interim VP of Finance
MIAMI
Pacer Health Corporation, Miami
Tina Vidal, 305-828-7660
tvidal@pacerhealth.com
or
Paul Lovito, 866-342-2700
Pacer Health Corporation (OTCBB:PHLH), a Miami-based owner-operator of acute care hospitals, medical treatment centers and psychiatric care facilities, announced today that effective immediately, Manuel R. Llano, a senior executive with more than 20 years experience in accounting and financial management of healthcare facilities, has joined the company as interim vice president of finance. Llano replaces David L. Byrns, who has left the company to pursue other ventures.
In his new role as interim vice president of finance, Llano will manage the finances of Pacer Health facilities and review future, potential acquisitions for inclusion in the Pacer Health portfolio.
Prior to joining Pacer Health, Llano served as CFO of South Shore Hospital, a 196-bed, not-for-profit medical center in Miami Beach, Florida, with annual revenues in excess of $96 million. From 1997 to 2004, he served as CFO and COO of Health Systems America, comprised of two psychiatric hospitals and various outpatient centers with combined annual revenues of $46 million. Llano previously served as CFO of West Gables Rehabilitation Center, a facility with 180 beds and annual revenues of more than $43 million.
Prior to his work at West Gables, Llano held various positions of increasing responsibility at Colombia HCA Healthcare Corporation. From 1991 to 1995, he served as CFO of Medical Park Diagnostic Multicenter, the administrative hub for four outpatient medical facilities. This followed tenures as controller at Kendall Regional Medical Center and Victoria Hospital from 1988 to 1991.
Llano began his career in healthcare as an audit manager for Humana Healthcare Plans - IMC and later joined Palm Springs General Hospital as assistant controller. He holds a bachelor's degree from the University of Miami, as well as an MBA from Nova Southeastern University.
"Manuel brings a proven track record of effective financial management with increased cash collections and profitability," said Rainier Gonzalez, chairman and CEO of Pacer Health. "We are confident that Pacer Health will benefit greatly from his expertise."
Llano will begin work immediately, and will be based jointly in Cameron, Louisiana, and Miami, Florida.
About Pacer Health Corporation
Pacer Health Corporation is an owner-operator of acute care hospitals, medical treatment centers, and psychiatric facilities, primarily serving the growing senior citizen population and non-urban areas throughout the Southeast. Shareholders are encouraged to visit the company's web site at http://www.pacerhealth.com.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Pacer Health disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions (including in the information technology and financial information industry), actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies.
