STAMFORD, Conn., Dec. 08, 2016 (GLOBE NEWSWIRE) — The Providence Account Corporation (“Providence”) (Nasdaq:PRSC) and its subsidiary, LogistiCare Solutions, LLC (“LogistiCare”), today appear that LogistiCare’s Chief Executive Officer, Herman Schwarz, will footfall bottomward as Chief Executive Officer able January 4, 2017. LogistiCare’s Chief Administrative Officer, Albert Cortina, will accept the role of CEO on an acting base until a backup is named. Providence has affianced Heidrick & Struggles International, Inc. to conduct a ample and absolute chase for a CEO replacement.
“This alteration comes at a time back LogistiCare is accelerating its cardinal initiatives to accord to the advance of bloom outcomes and the ascendancy of costs in a safe and client-focused manner,” said James Lindstrom, Chief Executive Officer of Providence. “First, we are accelerating advice technology advance to advice us and our arrangement of busline providers to ascendancy costs, advance account and accommodate added acumen into our managed populations. Second, we accept able another busline capabilities in assertive markets that are accepted to ensure admission to affliction in a safe and amount able manner. We are beholden to Herman for his administration over the aftermost years, architecture the belvedere for LogistiCare’s aing date of advance and enabling us to back a continuously convalescent amount hypothesis over the aing 12 months.”
Mr. Schwarz, who was appointed CEO of LogistiCare in May 2009, said, “The drive of LogistiCare’s accompaniment and managed affliction business is attestation to the value, affection and adaptability of the busline casework we manage, and I am acutely appreciative of what our aggregation has accomplished. We accept that few companies can administer the scale, amount efficiencies and best practices beyond 39 states to clip the circuitous demands of these programs.”
Mr. Cortina began his career at LogistiCare in 1997 and has served as Chief Administrative Officer back 2007. Prior to his accepted role, Mr. Cortina served as LogistiCare’s Chief Operating Officer, Executive VP of Finance and Controller. Before aing LogistiCare, Mr. Cortina served as Chief Financial Officer of Premier Convenance Management, a multi-specialty physician convenance administration organization. Albert becoming a bachelor’s of science in accounting from Florida Accompaniment University and is a accountant Certified Public Accountant.
“I will be admiring to serve as LogistiCare’s acting CEO,” said Mr. Cortina. “LogistiCare has a affluent history of actuality an avant-garde industry leader. I plan to abide to assignment endlessly with our aggregation to abide to bear safe and able busline casework to our managed populations.”
LogistiCare, a wholly endemic accessory of The Providence Account Corporation (NASDAQ:PRSC), is the nation’s better administrator of non-emergency medical busline programs for accompaniment governments and managed affliction organizations. Its ambit of casework includes alarm centermost management, networking credentialing, bell-ringer acquittal administration and non-emergency medical carriage management, which maintains a 99 percent complaint-free account rate.
The Providence Account Corporation is a captivation aggregation which owns authoritative and non-controlling interests in companies which accommodate aerial quality, technology enabled healthcare and workforce development services, comprised of non-emergency busline services, application alertness and adjustment services, acknowledged blackmailer rehabilitation services, bloom appraisal casework and affliction administration casework in the United States and abroad. For added information, amuse appointment prscholdings.com.
This columnist absolution contains “forward-looking statements” aural the acceptation of the Private Securities Litigation Ameliorate Act of 1995. Words such as “believe,” “demonstrate,” “expect,” “estimate,” “forecast,” “anticipate,” “should” and “likely” and agnate expressions yze advanced statements. In addition, statements that are not absolute should additionally be advised advanced statements. Readers are cautioned not to abode disproportionate assurance on those advanced statements, which allege alone as of the date the account was made. Such advanced statements are based on accepted expectations that absorb a cardinal of accepted and alien risks, uncertainties and added factors which may account absolute contest to be materially altered from those bidding or adumbrated by such advanced statements. These factors include, but are not bound to, our continuing accord with government entities and our adeptness to annex business from them, our adeptness to administer growing and alteration operations, the accomplishing of the healthcare ameliorate law, government account changes and legislation accompanying to the casework that we provide, our adeptness to renew or alter absolute affairs that accept asleep or are appointed to expire with cogent clients, and added risks abundant in Providence’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the budgetary year concluded December 31, 2015 and consecutive filings. Providence is beneath no obligation to (and especially disclaims any such obligation to) amend any of the advice in this columnist absolution if any advanced account after turns out to be inaccurate whether as a aftereffect of new information, approaching contest or otherwise.
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