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'Subsidiary to Provide Mental Health Services to Teamsters Local 631; Contract
Expected to Generate $300,000 in Annualized Revenue'
* Three-year contract effective June 1, 2006
* Teamsters Local 631 Security Fund is a multi-employer, Taft-Hartley
Trust that provides benefits to approximately 4,900 employee
participants in Southern Nevada
PEABODY, Mass., May 9 /PRNewswire-FirstCall/ -- Pioneer Behavioral Health, Inc. (OTC Bulletin Board: PIHC) today announced that its Harmony Healthcare subsidiary has been awarded the contract for Member Assistance Program (MAP) and Mental Health Services for the Teamsters Local 631 Security Fund, effective June 1, 2006 through May 31, 2009. The Teamsters Local 631 Security Fund is a multi-employer, Taft-Hartley Trust that provides benefits to approximately 4,900 employee participants in Southern Nevada. The approximate annual value of the contract to Harmony is $300,000.
Harmony Healthcare has become a leader in providing behavioral healthcare services to Taft-Hartley trust funds in Southern Nevada. This contract is the fourth Taft-Hartley Trust awarded to Harmony in the last two years. Harmony provides a variety of services, including Member Assistance Programs (MAP), crisis response services, outpatient counseling, psychiatric evaluations, medication management, chemical dependency groups, utilization review, case management and drug testing programs.
"Harmony continues to expand its market presence in Southern Nevada, and has emerged as a recognized leader in the region for mental and behavioral health services," commented Bruce Shear, CEO of Pioneer Behavioral Health. "The Seven Hills Behavioral Institute in Henderson will serve as our flagship hospital in the region beginning in 2007, further augmenting Harmony's established relationships with 21 casino and resort properties. Combined, PHC of Nevada will provide mental and behavioral healthcare services to more than 300,000 consumers in Southern Nevada. The greater Las Vegas area represents one of the fastest-growing regions in the country, and this growth has strained existing mental health resources and created significant demand for additional high-quality, compassionate mental health services, and Pioneer is committed to meeting this expanding opportunity."
About Pioneer Behavioral Health
Pioneer Behavioral Health operates companies that provide inpatient and outpatient behavioral health care services, clinical research, and Internet- and telephonic-based referral services. The Companies contract with national insurance companies, government payors, and major transportation and gaming companies, among others, to provide such services. For more information, please visit www.phc-inc.com or www.haydenir.com.
Statement under the Private Securities Litigation Reform Act of 1995:
This press release may include "forward-looking statements" that are subject to risks and uncertainties. Forward-looking statements include information about possible or assumed future results of the operations or the performance of the Company and its future plans and objectives. Various future events or factors may cause the actual results to vary materially from those expressed in any forward-looking statements made in this press release. For a discussion of these factors and risks, see the Company's annual report on Form 10-K for the most recently ended fiscal year.
Company Contact: Investor Relations Contact:
PHC, Inc. Hayden Communications, Inc.
Bruce A. Shear Matthew Hayden
978-536-2777 843-272-4653
SOURCE Pioneer Behavioral Health, Inc.
-0- 05/09/2006
/CONTACT: Bruce A. Shear of PHC, Inc., +1-978-536-2777; or Investor
Relations, Matthew Hayden of Hayden Communications, Inc., +1-843-272-4653, for
Pioneer Behavioral Health, Inc./
/Web site: http://www.haydenir.com /
/Web site: http://www.phc-inc.com /
(PIHC)
CO: Pioneer Behavioral Health, Inc.; Harmony Healthcare
ST: Massachusetts, Nevada
IN: HEA MTC OTC
SU:
MH-IL
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2510 05/09/2006 11:38 EDT http://www.prnewswire.com