California's Proposition 5 Could Significantly Boost the Client Base for A Better Tomorrow Treatment Center Inc., Forterus Inc.'s Behavioral Healthcare Subsidiary
If approved, the ballot measure would allocate $460 million annually toimprove and expand treatment programs for people convicted of drug and alcoholoffenses.
"We already have a diverse client base consisting of private pay clientsand clients with health insurance. So if Proposition 5 passes, we could easilybecome a government contractor and diversify our payer mix further than italready is," said Paul Howarth, CEO of Forterus.
Howarth added that because Forterus is publicly traded, A Better Tomorrowcould easily access the necessary funding to acquire additional facilities toaccommodate any significant increase in clients needing drug and alcoholrehabilitation services.
"Many of the providers the government uses for drug and alcohol counselingare relatively small, non-profit entities that do not have the fundingavailable to acquire additional beds or facilities for rehabilitationservices," Howarth said, adding, "In that sense, we have a competitiveadvantage."
Murrieta, Calif.-based A Better Tomorrow Treatment Center Inc. isaccredited by the Commission on Accreditation of Rehabilitation Facilities(CARF), placing it in the top 5 percent of drug and alcohol treatment centersin California.
Forterus, Inc. and its subsidiaries engage in diverse business activities,including thoroughbred breeding and racing, drug and alcohol rehabilitation,and finance. For more information on Forterus and A Better Tomorrow, pleasevisit their respective websites at http://www.forterus.com,http://www.abttc.com, and http://www.genrecovery.net.
Application of the Safe Harbor of the Private Securities Litigation ReformAct of 1995: This press release contains, and Forterus may from time to timemake, written or oral "forward-looking statements" within the meaning of theU.S. federal securities laws, which are made pursuant to the safe harborprovisions of the Private Securities Litigation Reform Act of 1995. Allforward-looking statements rely on a number of assumptions concerning futureevents and are subject to a number of uncertainties and other factors, many ofwhich are outside Forterus's and/or its subsidiaries control that could causeactual results to differ materially from such statements. In particular,statements using words such as "may," "should," "estimate," "expect,""anticipate," "intend," "believe," "predict," "potential," or words of similarimport generally involve forward-looking statements.Paul Howarth (888) 257-8345 email@example.com
SOURCE Forterus, Inc.
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