LOS ANGELES, July 8, 2003 (PRIMEZONE) -- IPOdesktop.com, in the first of an expected series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's Chairman & CEO, Edward A. Johnson, about the firm's anticipated continued expansion of its temporary healthcare staffing agency services, in addition to its core behavioral healthcare operations.
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Johnson. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc.wma.
During the interview, Johnson, who has spent almost his entire career in the healthcare marketplace, and prior to founding OptimumCare was Executive Vice President of Comprehensive Health Care, points out that the company initially began operations with a focus on behavioral healthcare.
It developed a series of inpatient and partial hospitalization programs, principally serving the Greater Los Angeles marketplace of Southern California that was the largest of its kind in the area. Following reimbursement changes in that marketplace that reduced the number of such programs nationwide, he said OptimumCare decided to redirect its corporate strategies.
Last year, he notes, the company began to take advantage of the fact that the temporary healthcare staffing field represented a huge market opportunity. Accordingly, working with an East Coast-based consulting firm, the company has now made three such acquisitions, two on the West Coast and the other in Florida. All three operations have a focus on delivering on short order highly qualified nurses and social workers when client hospitals and other facilities find themselves short of staff due to a variety of factors.
The company's strategy, Johnson says, is to find companies with revenues of approximately $1 to $3 million, offer them the opportunity to become part of a publicly traded company, and continue to build their respective businesses through continuation of local management. Acquired companies are paid a portion of their purchase price in cash, with the remainder a mix of cash and stock options.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at www.optimumcare.com.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.