10.07.2008 18:35:00
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IntegraMed Signs Fertility Network Contract With Arizona Reproductive Medicine Specialists
IntegraMed America, Inc. (NASDAQ: INMD), the nation’s
leading operator of fertility centers and vein care clinics in the
United States, announced today it has executed a 25-year contract to
provide business, marketing and facility services to Arizona
Reproductive Medicine Specialists (ARMS) in Phoenix, Arizona. Phoenix
represents the first fertility center in the Southwest and the 13th
major market where IntegraMed has committed to providing its full range
of services.
Under the terms of the agreement, IntegraMed will phase in the
implementation of its services over time, dependent upon ARMS meeting
specific performance targets. Initially IntegraMed will receive a fixed
percentage of the Center’s revenues with an
option to participate in an additional fixed amount of the Center’s
earnings at a later date plus reimbursed cost of services, once all
services have been phased into the ARMS operations. The transaction
became effective July 9, 2008.
ARMS is one of the largest and most well-established fertility centers
in the Phoenix area. It is centrally located in Phoenix with satellite
offices in Scottsdale, Chandler, and the West Valley. ARMS physicians
serve as clinical faculty for one of only two academic obstetrics and
gynecology residency programs in Phoenix, the Banner Good Samaritan
Residency Program, and for the University of Arizona. Their new,
state-of-the-art facility includes the Phoenix Preimplantation Genetic
Diagnosis Center.
Drew V. Moffit, M.D., FACOG, is the co-medical director of Arizona
Reproductive Medicine Specialists, the director of the Division of
Reproductive Endocrinology and Infertility at Good Samaritan Regional
Medical Center and an assistant professor at the University of Arizona.
He completed his training in reproductive endocrinology and infertility
medicine at the Jones Institute of Reproductive Medicine in Norfolk,
Virginia. He is a board-certified reproductive endocrinologist.
Mark D. Johnson, M.D., is the Director of Reproductive Genetics at ARMS.
He completed fellowships at the Medical College of Georgia and the
National Institutes of Health and has earned board certification in
Reproductive Endocrinology and infertility. Dr. Johnson was the
2004-2005 president of the Phoenix OB-GYN Society and was named one of
the "Top Docs" in Infertility in Phoenix Magazine.
Barbara M. Faber, M.D., is board certified in Ob/GYN as well as
Reproductive Endocrinology and Infertility. Dr. Faber has extensive
experience in Assisted Reproductive Technologies (in-vitro
fertilization), ovulation induction, and endoscopic surgery for the
evaluation and treatment of infertility. Dr. Faber is also a clinical
assistant professor at the University of Arizona.
Kimball O. Pomeroy, Ph.D., is the Director of the Reproductive Lab at
ARMS with expertise in embryology and andrology, the study of male
reproduction. He served as a postdoctoral fellow at The Salk Institute
in San Diego and was trained in human in-vitro fertilization in Bristol,
England.
"We’re delighted to
align ourselves with IntegraMed because they have repeatedly
demonstrated nationwide that they can help foster growth of fertility
practices,” said Dr. Moffit. "Working
with IntegraMed will enable us to manage our growth and development for
the foreseeable future.” "We look forward to a longstanding
relationship with ARMS,” said Joseph J.
Travia, Jr., President of IntegraMed’s
Fertility Centers Division. "ARMS is one of
the few multi physician practices in the state and has established a
reputation for providing expert patient care and treatment. We are
excited to establish a footprint in the Southwest United States with one
of the eminent Fertility Centers in Arizona and believe the Phoenix
market is underserved and ripe for expansion and growth.” About IntegraMed America, Inc.
IntegraMed America, Inc. is the leading operator of fertility centers
and vein care clinics in the United States. The Company supports its
provider networks with state-of-the art information systems; marketing
and payer contracting; financial planning, reporting and analysis;
organizational planning and development; quality assurance initiatives;
human resources administration; and purchasing services. IntegraMed also
offers consumer treatment-financing programs and operates www.integramed.com,
a leading fertility portal.
The IntegraMed Fertility network consists of 32 contracted centers in
104 locations across the United States, including 175 physicians and
Ph.D. scientists. Nearly one of every four IVF procedures in the U.S. is
performed in an IntegraMed fertility practice. The IntegraMed Vein
Clinic network is the leading provider of vein care services in the US
and operates 31 centers in 11 states, principally in the Midwest and
Southeast.
Statements contained in this press release that are not based on
historical fact, including statements concerning future results,
performance, expectations and expansion of IntegraMed are
forward-looking statements that may involve a number of risks and
uncertainties. Actual results may differ materially from the
statements made as a result of various factors, including, but not
limited to, the risks associated with IntegraMed's ability to finance
future growth; changes in insurance coverage, government laws and
regulations regarding health care or managed care contracting; and other
risks, including those identified in the company's most recent Form 10-K
and in other documents filed by IntegraMed with the U.S. Securities and
Exchange Commission. All information in this press release is as
of July 10, 2008 and IntegraMed undertakes no duty to update this
information.
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