The Doctor Comes to You

I-trax, Inc. (AMEX: DMX), the parent company of CHD Meridian Healthcare and ProFitness Health Solutions, said today that 2007 was its busiest to date for sales of workplace-based health and fitness centers with more site openings than in any prior 12-month period.

“We experienced double-digit growth in revenue, our operating performance continued to improve and our pipeline is robust with significant multi-site and multi-service opportunities,” said Frank A. Martin, chairman of I-trax.

In 2007, I-trax’s wholly owned subsidiary, CHD Meridian Healthcare, opened a total of 32 new on-site health centers for 28 clients. Ten of those were new clients, while the remaining sites were for existing clients. CHD Meridian ended the year with 242 health centers for 108 clients in 36 states.

“The number of new clients that we added in 2007 is testament that our investment in ground-breaking research is demonstrating the clear value of workplace health services,” Martin said.

Other highlights for I-trax in 2007 included finalizing the acquisition of ProFitness Health Solutions of Shelton, CT. “Since the acquisition was finalized, we have experienced substantial interest from existing clients of both organizations in combining fitness, wellness and health services at the workplace,” continued Martin. “We believe that will trend will gain even more momentum in 2008.”

Going into 2008, CHD Meridian Healthcare has commitments for an additional 26 sites to be opened in the coming months, not including any new business added in fourth quarter 2007. “That includes three clients that have committed to the integrated Primary Care and Pharmacy model,” Martin said. “We should see organic growth in net revenue of approximately 20 percent and an additional 10 percent growth from the acquisition of ProFitness Health Solutions and we will start to see the leverage in our business model to substantially improve our profitability. We believe that in 2008, we will exceed our investors’ expectations for success.”

Source: CNNMoney.com
Original Publication Date: January 22, 2008