DETROIT, May 5 /PRNewswire-FirstCall/ -- United American Healthcare Corporation (Nasdaq: UAHC), which owns and provides comprehensive management services to a full-service managed care organization in Tennessee, today announced it will release its financial results for the third fiscal quarter ended March 31, 2008 on Tuesday, May 13, 2008, after market close. The Company will host a conference call at 4:30 p.m. Eastern time the same day to discuss the results.
"As we reported on April 22, 2008, our UAHC Health Plan subsidiary has learned that it will no longer have a TennCare contract to serve Medicaid beneficiaries in the Western Grand Region of Tennessee when its current TennCare contract expires," said William C. Brooks, president, chairman and CEO of United American Healthcare. "Without question, the loss of the TennCare contract, which represented 59 percent of our total revenues in the nine months ended March 31, 2008, will have a material impact on our business in fiscal 2009."
Brooks added: "We are carefully evaluating the Company's strategic alternatives in light of this development. We also remain focused on continuing to provide the highest level of service to our TennCare members in accordance with our TennCare contractual obligations. We will continue to act in the best interests of the Company and its shareholders, and intend to provide a status update on the Company in our quarterly conference call currently scheduled for May 13."
Participation in the call's question-and-answer session will be limited to institutional investors and analysts. Individual investors and retail brokers are invited to listen via a live webcast. To listen, please go to the investor section of the Company's website at www.uahc.com. The webcast will be archived on the United American Healthcare website for 90 days from the date of the call.
To access the live conference call, please dial 1-888-337-8202 and provide conference passcode 5811948. A replay of the call will be available through Tuesday, June 3, 2008. To access the replay, please call 888-203-1112 and provide conference passcode 5811948.
About United American Healthcare Corporation
United American Healthcare Corporation (UAHC) is a full-service healthcare management company, pioneering the delivery of healthcare services to Medicaid recipients since 1985. UAHC owns and manages UAHC Health Plan, which is based in 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, which may cause actual results and corporate developments to differ materially from those expected. Factors that could cause results and developments to differ materially from expectations include, without limitation, the effects of state and federal regulations, the effects of acquisitions and divestitures, and other risks described from time to time in each of United American Healthcare's SEC reports, including quarterly reports on Form 10-Q, annual reports on Form 10-K, and reports on Form 8-K.
SOURCE United American Healthcare Corporation