Providence Service Corporation Hires Chief Strategy Officer to Enhance Company Positioning to Benefit From Government Spending I
December 21 2009 - 3:02PM
PR Newswire (US)
TUCSON, Ariz., Dec. 21 /PRNewswire-FirstCall/ -- The Providence
Service Corporation (NASDAQ:PRSC) today announced that it has hired
Leamon A. Crooms III as its Chief Strategy Officer, effective
February 1, 2010. Mr. Crooms, an expert in strategy development,
comes to the Company with 15 years of experience executing
significant strategic assignments at crucial times in world class
organizations. Leamon Crooms, age 47, provided strategic input and
led new market strategies for Federal Express, Eckerd Health
Services, Bed, Bath and Beyond, General Electric and Hewlett
Packard while with consulting companies Cap Gemini Ernst &
Young and Bearing Point (formerly KPMG). Most recently he was Chief
Advisor of Strategic Growth Advisors, a business advisory firm that
he founded. Mr. Crooms has a BA from the University of California,
Davis and an MBA from the University of Arizona-Eller School of
Business. "Historically Providence has relied exclusively on our
decentralized field offices for our growth initiatives," said
Fletcher McCusker, Chairman and CEO. "With so much rapidly
happening in the industry at a national level, we wanted someone
with an experienced strategic background to help pull all of our
efforts together. To have someone of Leamon's caliber and
credentials join our company is truly a significant achievement."
Mr. Crooms will be responsible for directing the Company's
strategic development effort designed to enhance organic growth,
particularly given the major changes expected in the marketplace
due to the new initiatives in government spending, particularly
Medicaid, job development, Department of Defense mental health
initiatives and the continued expansion of home based care and non
emergency transportation. He will identify new markets and new
opportunities, develop and execute business and marketing plans and
assist the field offices in initiating strategies designed to align
local operations with rapidly developing funding resources. About
Providence The Providence Service Corporation, through its owned
and managed entities, provides home and community based social
services and non-emergency transportation services management to
government sponsored clients under programs such as welfare,
juvenile justice, Medicaid and corrections. Providence does not own
or operate beds, treatment facilities, hospitals or group homes,
preferring to provide services in the client's own home or other
community setting. The Company provides a range of services through
its direct and managed entities to over 74,000 clients through 843
active contracts at September 30, 2009, with an estimated 7.3
million individuals eligible to receive the Company's non-emergency
transportation services. Combined, the Company has a nearly $1
billion book of business including managed entities.
Forward-Looking Statements This press release contains
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995. Words such as "believe,"
"demonstrate," "expect," "estimate," "anticipate," "should" and
"likely" and similar expressions identify forward-looking
statements. In addition, statements that are not historical should
also be considered forward-looking statements. Readers are
cautioned not to place undue reliance on those forward-looking
statements, which speak only as of the date the statement was made.
Such forward-looking statements are based on current expectations
that involve a number of known and unknown risks, uncertainties and
other factors which may cause actual events to be materially
different from those expressed or implied by such forward-looking
statements. These factors include, but are not limited to the
global credit crisis, capital market conditions, and other risks
detailed in Providence's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for the fiscal
year ended December 31, 2008. Providence is under no obligation to
(and expressly disclaims any such obligation to) update any of the
information in this press release if any forward-looking statement
later turns out to be inaccurate whether as a result of new
information, future events or otherwise. DATASOURCE: The Providence
Service Corporation CONTACT: Fletcher McCusker, Chairman and CEO,
or Kate Blute, Director of Investor and Public Relations, both of
The Providence Service Corporation, +1-520-747-6600; or Alison
Ziegler of Cameron Associates, +1-212-554-5469, for The Providence
Service Corporation
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