Healthcare Providers and Services
Company Overview of Conmed Healthcare Management, Inc
Conmed Healthcare Management, Inc. provides correctional healthcare services to county and municipal detention centers in the United States. Its correctional healthcare services include general healthcare, dialysis, pharmacy, acute care, EKG’s, durable medical equipment, physical and occupational therapy, IV therapy, diagnostic imaging/radiology, laboratory, dental, mental health, electronic medical records, electronic medication administration records, utilization management, and utilization review services, as well as arranging and contracting for hospital and surgical services. The company also offers staffing of healthcare professionals to its contracted facilities. In addition, it provi...
7250 Parkway Drive
Hanover, MD 21076
Key Executives for Conmed Healthcare Management, Inc
Founder and Office of the Chairman
Compensation as of Fiscal Year 2013.
Conmed Healthcare Management, Inc Key Developments
Conmed Healthcare Management, Inc. Announces Board and Officer Changes; Amends and Restates its Certificate of Incorporation
Aug 29 12
As of the effective time, in connection with the merger, Conmed Healthcare Management Inc.'s existing directors and principal officers (other than Stephen Goldberg) voluntarily resigned. Pursuant to the merger agreement, Gerard Boyle and Cary McClure, the directors of Hanover Merger Sub Inc., became the directors of the company, in each case until their successors are duly elected or appointed and qualified. In addition, the company's board appointed Gerard Boyle as President, Cary McClure as Secretary, Treasurer and Chief Operating Officer, and Randall Marshall as Senior Vice President of Finance.
Pursuant to the merger agreement, upon consummation of the merger, the certificate of incorporation of the company was amended and restated in its entirety so as to contain the provisions, and only the provisions, contained in the certificate of incorporation of Hanover Merger Sub Inc. in effect immediately prior to the consummation of the merger. Also, upon consummation of the merger, the amended and restated bylaws of Hanover Merger Sub Inc. in effect immediately prior to the consummation of the merger became the amended and restated bylaws of the company, except that such bylaws were amended to reflect that the name of the company is Conmed Healthcare Management Inc.
Conmed Healthcare Management, Inc. Announces Unaudited Consolidated Financial Results for the Second Quarter and Six Months Ended June 30, 2012
Aug 14 12
Conmed Healthcare Management Inc. announced unaudited consolidated financial results for the second quarter and six months ended June 30, 2012. Net revenue for the three months ended June 30, 2012, increased 18.0% to $19.7 million as compared to $16.7 million in the second quarter of 2011. The revenue improvement resulted primarily from the addition of service contracts signed with new jurisdictions since April 1, 2011. Revenues also increased as a result of the expansion of services under existing contracts and price increases related to existing services, partially offset by revenue declines related to business decisions to exit specific less profitable markets. The company reported operating income of $717,382 in the second quarter of 2012, compared to operating income of $26,527 in the second quarter last year. Net income for the quarter was $360,000, or $0.03 per basic and $0.02 per diluted share, compared to a net loss of $139,000 or $0.01 per basic and diluted share in the second quarter of 2011, representing a $499,000 increase in net income. Adjusted EBITDA was $2.0 million against $1.4 million for the same period in the last year. Income before income taxes was $988,194 against $511,416 for the same period in the last year.
For the six months, service contract revenue was $38.6 million against $33.0 million for the same period in the last year. Operating income was $1.3 million against $814,639 for the same period in the last year. Income before income taxes was $735,677 against loss before income taxes of $75,482 for the same period in the last year. Net income was $359,677 against net loss of $139,482 for the same period in the last year. Earnings per diluted share were $0.02 against loss per diluted share of $0.01 for the same period in the last year. The company generated approximately $2.4 million in operating cash flow in the six month period ended June 30, 2012 against $1.3 million for the same period in the last year. Purchase of property and equipment was $418,617 against $221,323 for the same period in the last year. Adjusted EBITDA was $1.1 million against $293,085 for the same period in the last year.
Conmed Healthcare Management, Inc. Announces Executive Appointments
Jul 18 12
On July 16, 2012, Conmed Healthcare Management Inc. Entered into an employment agreement with Stephen B. Goldberg, effective upon the Closing. The company entered into an employment agreement with Larry Doll effective upon the Closing. Under the terms of the Doll Agreement, the company will employ Mr. Doll as the company’s Senior Vice President, Strategic Development, for a three-year period commencing on the Closing Date, with successive one-year renewals thereafter.
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