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"As we reported on April 22, 2008, our UAHC Health Plan subsidiary haslearned that it will no longer have a TennCare contract to serve Medicaidbeneficiaries in the Western Grand Region of Tennessee when its currentTennCare contract expires," said William C. Brooks, president, chairman andCEO of United American Healthcare. "Without question, the loss of theTennCare contract, which represented 59 percent of our total revenues in thenine months ended March 31, 2008, will have a material impact on our businessin fiscal 2009."
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Brooks added: "We are carefully evaluating the Company's strategicalternatives in light of this development. We also remain focused oncontinuing to provide the highest level of service to our TennCare members inaccordance with our TennCare contractual obligations. We will continue to actin the best interests of the Company and its shareholders, and intend toprovide a status update on the Company in our quarterly conference callcurrently scheduled for May 13."
Participation in the call's question-and-answer session will be limited toinstitutional investors and analysts. Individual investors and retail brokersare invited to listen via a live webcast. To listen, please go to theinvestor section of the Company's website at www.uahc.com. The webcast willbe archived on the United American Healthcare website for 90 days from thedate of the call.
To access the live conference call, please dial 1-888-337-8202 and provideconference passcode 5811948. A replay of the call will be available throughTuesday, June 3, 2008. To access the replay, please call 888-203-1112 andprovide conference passcode 5811948.
About United American Healthcare Corporation
United American Healthcare Corporation (UAHC) is a full-service healthcaremanagement company, pioneering the delivery of healthcare services to Medicaidrecipients since 1985. UAHC owns and manages UAHC Health Plan, which is basedin western Tennessee and includes the Memphis market. For more information,please visit the Company's web site at www.uahc.com.
United American Healthcare Corporation Safe Harbor Statement
Forward-looking statements by United American Healthcare Corporation,including those in this announcement, involve known and unknown risks, whichmay cause actual results and corporate developments to differ materially fromthose expected. Factors that could cause results and developments to differmaterially from expectations include, without limitation, the effects of stateand federal regulations, the effects of acquisitions and divestitures, andother risks described from time to time in each of United AmericanHealthcare's SEC reports, including quarterly reports on Form 10-Q, annualreports on Form 10-K, and reports on Form 8-K.
SOURCE United American Healthcare Corporation
