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| Group to terminate FL DOC contract |
| By Yahoo Finance |
| Published: 08/22/2006 |
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BRENTWOOD, TN - America Service Group Inc. announced today that its primary operating subsidiary, Prison Health Services, Inc. (PHS), has formally delivered written notice to terminate its contract with the Florida Department of Corrections, effective November 20, 2006. As previously announced, the contract has underperformed financially, primarily due to a higher than anticipated volume of off-site hospitalization services required for this patient population. The Company had been in discussions with the Florida Department of Corrections as to potential alternatives that could improve the future financial performance of the contract. The Company's decision to terminate the contract was made only after diligent efforts on the part of both PHS and Florida Department of Corrections representatives to reach agreement on provisions that would allow the contract to continue on mutually beneficial terms...Read more. If link has expired, check the website of the article's original news source. |
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