![]() |
|
| FOR IMMEDIATE RELEASE | FOR MORE INFORMATION: |
| Monday, January 10, 2000 | Diane Landry King (301) 838-5636 |
MAMSI NAMED TO FORBES' MAGAZINE'S "PLATINUM 400" LIST
Rockville, MD –- Mid Atlantic Medical Services, Inc. (MAMSI) (NYSE-MME), one of the mid-Atlantic region's largest managed care companies, was named as a Forbes "Platinum 400" company in the health care industry, as reported in the January 10, 2000 edition of the magazine.
The Forbes Platinum List consists of America's "best-performing" corporations by industry, as selected by the magazine's editors and computers. According to Forbes, the companies selected for inclusion on the Forbes Platinum List "must pass a stringent set of hurdles measuring both long- and short-term growth and profitability." A company is chosen to be on the list because of its performance in key financial areas such as return on capital, sales growth, net income growth and growth in cash flow per share during the past five years and past 12 months. Companies, which may include foreign-based firms with substantial U.S. operations, must have sales of at least $750 million. In addition to the financial criteria, a company's performance in comparison to other companies in its industry is also weighed in the decision.
"We are very pleased that the editors of this prestigious business publication recognize the great value MAMSI has not only for its members but also for our current shareholders and potential investors," announced Mark D. Groban, M.D., Chairman of the Board of MAMSI. "Our new leadership is clearly moving the company in the right direction."
"The article says the List is made up of 'time-tested champions, not overnight sensations,' " remarked Thomas P. Barbera, CEO and President of MAMSI. "We agree that this description fits MAMSI. We're proud of this prestigious honor and I congratulate the hard-working employees of MAMSI on this achievement."
Mid Atlantic Medical Services, Inc.'s subsidiaries cover over 1.8 million lives in Maryland, Washington D.C., Virginia, West Virginia, Delaware, North Carolina and Pennsylvania. It is one of the mid-Atlantic region's largest managed care companies. The Company's web site is located at www.mamsi.com.
###
Note 1: Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: All forward-looking information or statements contained in this release are based on management's current knowledge of factors, all with inherent risks and uncertainties, affecting MAMSI's business. MAMSI's actual results may differ materially if these assumptions prove invalid. Significant risk factors, while not all-inclusive, are: the possibility of increasing price competition in the Company's marketplace; the possibility of state or Federal budget mandates that reduce premium levels; the possibility of increased medical expenses due to increased utilization, inflation or legislative mandates; and the possibility that the Company is not able to expand its Service Area as planned. Investors should review other risks and uncertainties contained in Company documents filed with the Securities and Exchange Commission.
Note 2: MAMSI is a regional holding Company for health care organizations that provide comprehensive health insurance products and services including: M.D. IPA, a traditional HMO, and M.D. IPA Preferred, an open-ended version of the HMO; Optimum Choice, Inc.®, a non-federally qualified HMO; Optimum Choice of the Carolinas, Inc.; Optimum Choice, Inc. of Pennsylvania; Alliance PPO, LLC, a preferred provider organization; Mid Atlantic Psychiatric Services, Inc., a preferred provider organization offering managed psychiatric health care services; MAMSI Life and Health Insurance Company, an indemnity insurance company; HomeCall, Inc. and FirstCall, Inc., home health care companies; and HomeCall Pharmaceutical Services, Inc., a mail order pharmacy and home infusion services company.
Note 3: Mid Atlantic Medical Services, Inc. common stock is traded on the New York Stock Exchange (NYSE-MME).