News Article | February 28, 2017
Kevin Stevenson to become CEO following Annual Meeting in June 2017; Steve Fredrickson will become executive chairman of the PRA Board of Directors NORFOLK, Va., Feb. 28, 2017 (GLOBE NEWSWIRE) -- PRA Group, Inc. (Nasdaq:PRAA), a global leader in acquiring and collecting nonperforming loans, today announced that Kevin Stevenson will succeed Steve Fredrickson as the chief executive officer of the Company following the 2017 Annual Meeting of Stockholders, which will be held on June 1, 2017. Mr. Stevenson, who co-founded PRA Group and currently serves as president and chief administrative officer, is being appointed as a part of the Board of Directors’ long-term succession plan which was developed when Mr. Fredrickson informed the Board of his desire to eventually step down as CEO. The plan included Mr. Stevenson’s appointment as president and CAO as well as a director of the Board in August 2015. Mr. Fredrickson, who has served as CEO since founding PRA Group with Mr. Stevenson, will transition to a new role as executive chairman of the PRA Group Board of Directors, where he will continue to focus on helping PRA Group’s strategy, vision and business development efforts. This planned succession was designed to position the Company for continued success while building on the foundation and principles the Company has maintained for the past 21 years. “I am proud of what our team has been able to accomplish, building PRA Group into a global leader with a long track record of growth and success,” said Steve Fredrickson, chairman and chief executive officer. “I have worked closely with Kevin for more than two decades since before we founded PRA Group, and I am confident in handing the reins to such a qualified leader who shares my commitment to PRA Group’s vision and values. Together, we believe now is the right time to transition to the next generation of leadership. Kevin is the best person to lead the Company forward into its next phase of growth and has tremendous experience throughout the entire organization from his roles as CFO, CAO and President. I look forward to staying involved with the Company in my new role as executive chairman and continuing to work with Kevin and the rest of the Board to keep driving the business forward.” “On behalf of the entire board, I would like to thank Steve for his leadership, commitment and innumerable contributions to PRA Group,” said David Roberts, lead independent director. “Steve, together with Kevin, has built PRA Group into an industry leader from the ground up. We appreciate Steve’s continued dedication to the Company during this transition process and look forward to benefiting from his experience and knowledge as executive chairman.” Continued Roberts, “The Board began executing a thorough and deliberate succession planning process several years ago when Steve indicated his desire to eventually step down, and we believe that Kevin is the ideal candidate to serve as PRA Group’s next CEO. With the assistance of an outside search firm, we looked at potential candidates for this role, and Kevin’s experience and background stood out above all others. During his time at PRA Group, Kevin has overseen nearly every aspect of the Company, having served in both operational and financial roles. He successfully transitioned from the CFO role to President in 2015 and has been instrumental in driving the Company’s core strategy since the beginning. Kevin has made significant contributions to position the Company for long-term success, and we are confident he will be a strong leader for PRA Group.” “I am honored by the confidence that the PRA Group Board has placed in me through this appointment as the Company’s second CEO,” said Mr. Stevenson. “PRA Group has an enviable position as a global industry leader due to a relentless focus on operational excellence and disciplined growth, and I am committed to building on our successful 21-year track record to ensure we continue to deliver enhanced shareholder returns. On behalf of PRA Group’s 4,000 employees across the world, I would also like to thank Steve for his contributions to the Company. It has been an honor to serve alongside Steve, and I look forward to working closely with him over the next several months to execute a smooth and orderly transition.” About Kevin Stevenson Mr. Stevenson co-founded PRA with Steve Fredrickson in 1996. Over his two decades at PRA Group, Mr. Stevenson has served in numerous operational and financial roles, and has managed a broad range of functions, including Accounting and Finance, Collection Operations, Quality Control, Investor Relations, IT, HR and Property. Mr. Stevenson served as the Company’s first chief financial officer and successfully led the Company through its IPO in 2002, multiple secondary offerings, several syndicated loan transactions, a convertible debt issuance and numerous transactions, including the Company’s transformative acquisition of Aktiv Kapital in 2014. In August 2015, the Board appointed Mr. Stevenson as president and chief administrative officer and named him as a director of the board. Before co-founding PRA, he served as controller and department manager of financial control and operations support at Household Recovery Services (HRSC) from 1994 to 1996. Prior to joining HRSC, Mr. Stevenson held various positions at Household Bank from 1987-1994, culminating in his role as controller of Household Bank's regional processing center in Worthington, Ohio, where he also managed the collections, technology, research and ATM departments. Mr. Stevenson is a Certified Public Accountant and received his bachelor’s degree in Accounting from The Ohio State University. He currently serves on the boards of the Sandler Center Foundation, the Greater Norfolk Corporation, as well as the EQUI-KIDS Therapeutic Riding Program of Virginia Beach, Virginia. About Steve Fredrickson Mr. Fredrickson co-founded PRA with Mr. Stevenson in 1996. He has been CEO since that time, and has been Chairman of the Board of Directors and CEO from PRA Group’s 2002 IPO. Under his leadership, PRA has grown from a start-up to a global leader in nonperforming loan purchasing and servicing with more than 4,000 employees in 14 countries. Mr. Fredrickson has 35 years of experience in financial services including leadership roles at Household Recovery Services’ Portfolio Services Group and Household Commercial Financial Services. Prior to joining Household, Mr. Fredrickson specialized in corporate and real estate workouts at Continental Bank of Chicago. Mr. Fredrickson has an MBA from the University of Illinois and a bachelor’s degree from the University of Denver. In addition, he is very active in the community, serving as a member of the board of directors for United Way of South Hampton Roads and the St. Mary’s Home Foundation. He is also on the executive advisory council of the College of Business and Public Administration at Old Dominion University and is a Trustee of the Eastern Virginia Medical School Foundation. About PRA Group As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. With over 4,000 employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business clients. For more information, please visit www.pragroup.com. About Forward Looking Statements Statements made herein which are not historical in nature, including PRA Group’s or its management's intentions, beliefs, expectations, projections, plans or predictions of the future, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based upon management's current beliefs, estimates, assumptions and expectations of PRA Group’s future operations and financial and economic performance, taking into account currently available information. These statements are not statements of historical fact or guarantees of future performance, and there can be no assurance that anticipated events will transpire or that our expectations will prove to be correct. Forward-looking statements involve risks and uncertainties, some of which are not currently known to PRA Group. Actual events or results may differ materially from those expressed or implied in any such forward-looking statements as a result of various factors, including risk factors and other risks that are described from time to time in PRA Group’s filings with the Securities and Exchange Commission including but not limited to PRA Group’s annual reports on Form 10-K, its quarterly reports on Form 10-Q and its current reports on Form 8-K, which are available through PRA Group's website and contain a detailed discussion of PRA Group's business, including risks and uncertainties that may affect future results. Due to such uncertainties and risks, you are cautioned not to place undue reliance on such forward-looking statements, which speak only as of today. Information in this press release may be superseded by recent information or statements, which may be disclosed in later press releases, subsequent filings with the Securities and Exchange Commission or otherwise. Except as required by law, PRA Group assumes no obligation to publicly update or revise its forward-looking statements contained herein to reflect any change in PRA Group’s expectations with regard thereto or to reflect any change in events, conditions or circumstances on which any such forward-looking statements are based, in whole or in part.
News Article | February 22, 2017
RALEIGH, N.C., Feb. 22, 2017 (GLOBE NEWSWIRE) -- PRA Health Sciences, Inc. (“PRA” or the “Company”) (NASDAQ:PRAH) today reported financial results for the quarter ended December 31, 2016. For the three months ended December 31, 2016, service revenue was $413.6 million, which represents growth of 14.2%, or $51.3 million, compared to the fourth quarter of 2015 at actual foreign exchange rates. On a constant currency basis, service revenue grew $52.9 million, an increase of 14.6% compared to the fourth quarter of 2015. Net new business for the quarter ended December 31, 2016 was $587.3 million, representing a net book-to-bill ratio of 1.42 for the period. This net new business contributed to an ending backlog of $2.9 billion at December 31, 2016. “We are pleased to have delivered another quarter with double-digit revenue, earnings and net new business growth year-over-year,” said Colin Shannon, PRA’s Chief Executive Officer. “We are well-positioned to deliver at least mid-teens growth during the coming year, as evidenced by our record level of new business awards and backlog. We continue to stay focused on our key strategic objectives, our client deliverables and developing our people, and we look forward to delivering strong results in 2017.” Direct costs were $274.4 million during the three months ended December 31, 2016 compared to $234.9 million for the fourth quarter of 2015. Direct costs were 66.3% of service revenue during the fourth quarter of 2016 compared to 64.8% of service revenue during the fourth quarter of 2015. The increase in direct costs as a percentage of service revenue is due to the continued hiring of billable staff to support our current projects and the hiring of additional staff to ensure appropriate staffing levels to support our future growth. Selling, general and administrative expenses were $70.2 million during the three months ended December 31, 2016 compared to $63.6 million for the fourth quarter of 2015. Selling, general and administrative costs were 17.0% of service revenue during the fourth quarter of 2016 compared to 17.6% of service revenue during the fourth quarter of 2015. The decrease in selling, general and administrative expenses as a percentage of revenue is attributable to our ability to continue to effectively manage our sales and administrative functions as the Company continues to grow. For the three months ended December 31, 2016, we incurred transaction-related expenses of $13.0 million. The costs consist of $12.7 million of one-time stock-based compensation expense related to the release of transfer restrictions on vested options and the vesting of certain performance-based stock options in connection with the November secondary offering. In addition, we incurred $0.3 million of third-party fees associated with the secondary offering. During the fourth quarter of 2016, we also incurred a loss on extinguishment of debt of $16.7 million. This loss is associated with our refinancing on our first lien term debt, which included the write-off of $15.8 million of unamortized debt issuance costs and $0.9 million of other costs associated with the transaction. GAAP net income was $14.0 million for the three months ended December 31, 2016, or $0.22 per share on a diluted basis, compared to GAAP net income of $28.5 million for the three months ended December 31, 2015, or $0.45 per share on a diluted basis. Our GAAP net income for the three months ended December 31, 2016 included transaction-related expenses and the loss on extinguishment discussed above. EBITDA was $54.3 million for the three months ended December 31, 2016, representing a decrease of 22.0% compared to the fourth quarter of 2015. Adjusted EBITDA was $73.9 million for the three months ended December 31, 2016, representing growth of 8.8% compared to the fourth quarter of 2015. Adjusted Net Income was $45.9 million for the three months ended December 31, 2016, representing 22.3% growth compared to the fourth quarter of 2015. Adjusted Net Income per diluted share was $0.71 for the three months ended December 31, 2016, representing 20.3% growth compared to the fourth quarter of 2015. A reconciliation of our non-GAAP measures, including EBITDA, Adjusted EBITDA, Adjusted Net Income, Adjusted Net Income per share and our 2017 guidance, to the corresponding GAAP measures is included in this press release. For the twelve months ended December 31, 2016, service revenue was $1,580.0 million, which represents growth of 14.8%, or $204.2 million, compared to the twelve months ended December 31, 2015 at actual foreign exchange rates. On a constant currency basis, service revenue grew $209.5 million, representing growth of 15.2% compared to the twelve months ended December 31, 2015. GAAP income from operations was $162.3 million, GAAP net income was $68.2 million and GAAP net income per diluted share was $1.06 for the twelve months ended December 31, 2016. Adjusted Net Income was $162.3 million for the twelve months ended December 31, 2016, an improvement of 28.6% compared to the same period in 2015. Adjusted Net Income per diluted share was $2.52 for the twelve months ended December 31, 2016, up 26.0% compared to the same period in 2015. For Full Year 2017, the Company expects to achieve service revenues between $1.795 billion and $1.835 billion, representing constant currency growth of 14% to 16%, GAAP net income per diluted share between $2.46 and $2.56 per share, representing growth of 132% to 142%, Adjusted Net Income per diluted share between $3.08 and $3.18 per share, representing growth of 22% to 26%, and annual effective income tax rate estimates at approximately 27%. For Q1 2017, the Company expects to achieve service revenues between $415 million and $425 million, representing constant currency growth of 11% to 14%, GAAP net income per diluted share between $0.41 and $0.46 per share, Adjusted Net Income per diluted share between $0.57 and $0.62 per share, and annual effective income tax rate estimates at approximately 27%. All financial guidance assumes a EURO rate of 1.11 and a GBP rate of 1.35. All other foreign currency exchange rates are as of January 31, 2017. PRA will host a conference call at 9:00 a.m. ET on February 23, 2017, to discuss the contents of this release and other relevant topics. To participate, please dial (877) 930-8062 within the United States or (253) 336-7647 outside the United States approximately 10 minutes before the scheduled start of the call. The conference ID for the call is 66572766. The conference call will also be accessible, live via audio broadcast, on the Investor Relations section of the PRA website at www.prahs.com/investors. A replay of the conference call will be available online at www.prahs.com/investors. In addition, an audio replay of the call will be available for one week following the call and can be accessed by dialing (855) 859-2056 within the United States or (404) 537-3406 outside the United States. The replay ID is 66572766. PRA (NASDAQ:PRAH) is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes approximately 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and over 13,000 employees worldwide. Since 2000, PRA has performed approximately 3,500 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 70 drugs. PRA has therapeutic expertise in areas that are among the largest in pharmaceutical development, including oncology, central nervous system, inflammation and infectious diseases. PRA believes that it provides its clients with one of the most flexible clinical development service offerings, which includes both traditional, project-based Phase I through Phase IV services, as well as embedded and functional outsourcing services. The Company has invested in medical informatics and clinical technologies designed to enhance efficiencies, improve study predictability and provide better transparency to clients throughout their clinical development processes. To learn more about PRA, please visit www.prahs.com. Internet Posting of Information: The Company routinely posts information that may be important to investors in the ‘Investor Relations’ section of the Company’s website at www.prahs.com. The Company encourages investors and potential investors to consult the Company’s website regularly for important information about the Company. This press release contains forward-looking statements that reflect, among other things, the Company’s current expectations and anticipated results of operations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements, market trends or industry results to differ materially from those expressed or implied by such forward-looking statements. For this purpose, any statements contained herein that are not statements of historical fact may constitute forward-looking statements. Without limiting the foregoing, words such as “anticipates,” “believes,” “estimates,” “expects,” “guidance,” “intends,” “may,” “plans,” “projects,” “should,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. Actual results may differ materially from the Company’s expectations due to a number of factors, including that most of the Company’s contracts may be terminated on short notice and that the Company may be unable to maintain large customer contracts or to enter into new contracts; the historical indications of the relationship of backlog to revenues may not be indicative of their future relationship; the market for the Company’s services may not grow as the Company expects; the Company may under price contracts or overrun its cost estimates, and if the Company is unable to achieve operating efficiencies or grow revenues faster than expenses, operating margins will be adversely affected; the Company may be unable to maintain information systems or effectively update them; customer or therapeutic concentration could harm the Company’s business; the Company’s business is subject to risks associated with international operations, including economic, political and other risks; the Company is also subject to a number of additional risks associated with its business outside the United States, including foreign currency exchange fluctuations and restrictive regulations, as well as the risks and uncertainties associated with the United Kingdom’s expected withdrawal from the European Union; government regulators or customers may limit the scope of prescription or withdraw products from the market, and government regulators may impose new regulations affecting the Company’s business; the Company may be unable to successfully develop and market new services or enter new markets; the Company’s failure to perform services in accordance with contractual requirements, regulatory standards and ethical considerations may subject it to significant costs or liability, damage its reputation and cause it to lose existing business or not receive new business; the Company’s services are related to treatment of human patients, and it could face liability if a patient is harmed; the Company has substantial indebtedness and may incur additional indebtedness in the future, which could adversely affect the Company’s financial condition; and other factors that are set forth in the Company’s filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K filed with the SEC on February 25, 2016. The Company undertakes no obligation to update any forward-looking statement after the date of this release, whether as a result of new information, future developments or otherwise, except as may be required by applicable law. Use of Non-GAAP Financial Measures This press release includes EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted Net Income per share, each of which are financial measures not prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). Management believes that these measures provide useful supplemental information to management and investors regarding our operating results as they exclude certain items whose fluctuation from period- to period do not necessarily correspond to changes in the operating results of our business. As a result, management and our board of directors regularly use EBITDA and Adjusted EBITDA as a tool in evaluating our operating and financial performance and in establishing discretionary annual bonuses. Adjusted EBITDA is also the basis for covenant compliance EBITDA, which is used in certain covenants in the credit agreement governing our senior secured credit facilities and the indenture governing the senior notes. In addition, management believes that EBITDA, Adjusted EBITDA and Adjusted Net Income (including diluted adjusted net income per share) facilitate comparisons of our operating results with those of other companies by backing out of GAAP net income items relating to variations in capital structures (affecting interest expense), taxation, and the age and book depreciation of facilities and equipment (affecting relative depreciation expense), which may vary for different companies for reasons unrelated to operating performance. We believe that EBITDA, Adjusted EBITDA and Adjusted Net Income (including diluted adjusted net income per share) are frequently used by securities analysts, investors, and other interested parties in the evaluation of issuers, many of which also present EBITDA, Adjusted EBITDA and Adjusted Net Income (including diluted adjusted net income per share) when reporting their results in an effort to facilitate an understanding of their operating results. These non-GAAP financial measures have limitations as analytical tools, and you should not consider these measures in isolation, or as a substitute for analysis of our results as reported under GAAP. Additionally, because not all companies use identical calculations, these presentations of EBITDA, Adjusted EBITDA and Adjusted Net Income (including diluted adjusted net income per share) may not be comparable to similarly titled measures of other companies. EBITDA represents net income before interest, taxes, depreciation and amortization. Adjusted EBITDA and Adjusted Net Income (including diluted adjusted net income per share) represent EBITDA and net income (including diluted net income per share), respectively, adjusted to exclude stock-based compensation expense, loss (gain) on disposal of fixed assets, loss on modification or extinguishment of debt, foreign currency losses and gains, other (expense) income, equity in (gains) losses of unconsolidated joint ventures, transaction-related cost, acquisition-related costs, severance costs and restructuring charges, prior year foreign research and development credits, lease termination costs, non-cash rent adjustments and other charges. Adjusted Net Income is also adjusted to exclude amortization of intangible assets, amortization of terminated interest rate swaps, and amortization of deferred financing costs. EBITDA, Adjusted EBITDA and Adjusted Net Income are not measurements of our financial performance under GAAP and should not be considered as alternatives to net income or other performance measures derived in accordance with GAAP or as alternatives to cash flow from operating activities as measures of our liquidity. EBITDA, Adjusted EBITDA and Adjusted Net Income have limitations as analytical tools, and you should not consider such measures either in isolation or as substitutes for analyzing our results as reported under GAAP. Some of these limitations are: Because of these limitations, EBITDA and Adjusted EBITDA should not be considered as discretionary cash available to us to reinvest in the growth of our business or as a measure of cash that will be available to us to meet our obligations. Constant currency comparisons are based on translating local currency amounts in the current year period at actual foreign exchange rates for the prior year. The Company routinely evaluates its financial performance on a constant currency basis in order to facilitate period- to- period comparisons without regard to the impact of changing foreign currency exchange rates. (a) Stock-based compensation expense represents the amount of recurring non-cash expense related to the Company’s equity compensation programs, excluding transaction-related stock-based compensation discussed in footnote (g). (b) Loss on disposal of fixed assets represents the costs incurred in connection with the sale or disposition of fixed assets, primarily IT equipment and furniture and fixtures. We exclude these losses from Adjusted EBITDA and Adjusted Net Income because they result from investing decisions rather than from decisions made related to our ongoing operations. (c) Loss on extinguishment of debt relates to costs incurred in connection with changes to our long-term debt. We exclude these losses from Adjusted EBITDA and Adjusted Net Income because they result from financing decisions rather than from decisions made related to our ongoing operations. (d) Foreign currency (gains) losses, net primarily relates to gains or losses that arise in connection with the revaluation of short-term inter-company balances between our domestic and international subsidiaries. In addition, this amount includes gains or losses from foreign currency transactions, such as those resulting from the settlement of third-party accounts receivable and payables denominated in a currency other than the local currency of the entity making the payment. We exclude these gains and losses from Adjusted EBITDA and Adjusted Net Income because they result from financing decisions rather than from decisions made related to our ongoing operations and because fluctuations from period- to- period do not necessarily correspond to changes in our operating results. (e) Other non-operating (income) expense, net represents income and expense that are non-operating and whose fluctuations from period- to -period do not necessarily correspond to changes in our operating results. (f) The foreign research and development credits are the result of a comprehensive analysis we have been performing across the organization to determine whether expenditures incurred qualify as research and development as defined by the respective jurisdiction. The amounts recorded in this line item represent amounts recorded in the current period that related to a prior period. (g) Transaction-related costs primarily relate to costs incurred in connection with the March, May and November 2016 secondary offerings and receivables financing agreement. These costs include $32.0 million of non-cash stock-based compensation expense related to the vesting and release of the transfer restrictions of certain performance-based stock options and $10.1 million of stock-based compensation expense associated with the release of the transfer restrictions on a portion of service-based vested options in connection with the announcement of our March, May and November 2016 secondary offerings. In addition, we incurred $2.7 million of third-party fees associated with the secondary offerings and the closing of our accounts receivable financing agreement. (h) Acquisition-related costs primarily relate to costs incurred in connection with purchase of the assets of Value Health Solutions, Inc., the acquisition of Nextrials, Inc., and the integration cost for the Takeda joint venture, as well as costs related to other potential acquisitions to enhance our strategic objectives. (i) Lease termination expenses represent charges incurred in connection with the termination of leases at locations that are no longer being used by the Company. (j) Severance and restructuring charges represent amounts incurred in connection with the elimination of redundant positions within the organization, including positions eliminated in connection with the KKR Transaction and the acquisitions of ClinStar, RPS and CRI Lifetree. (k) We have escalating leases that require the amortization of rent expense on a straight-line basis over the life of the lease. The non-cash rent adjustment represents the difference between rent expense recorded in the consolidated statement of operations and the amount of cash actually paid. (l) Represents charges incurred that are not considered part of our core operating results. (m) Represents the tax effect of the total adjustments at our estimated effective tax rate.
News Article | February 20, 2017
On March 4, 2017, Phoenix, Arizona will be the location of Healthway Education Systems' informative medical cannabis seminar, which will provide those who attend with a certificate of accreditation. During November 2016, voters had their say on Proposition 205, which aimed to legalize cannabis for recreational use within Arizona’s borders. The state’s citizens decided against it, but the battle between ‘yes’ and ‘no’ was far closer than people expected, given that Arizona used to be a very conservative state. Perhaps it is due to California’s iconic acceptance of recreational marijuana. Perhaps it is due to a younger generation becoming more politically involved. Whatever the reason behind it, one thing is for certain: Arizona is becoming more liberal in terms of its political views. Despite Proposition 205 failing to pass, medical cannabis has been legal in the state of Arizona since 1996, courtesy of Proposition 200. Today, the widespread acceptance of medical cannabis throughout the United States has caused medical professionals to take a second glance and seriously consider it as a treatment option. Some medical professionals are reluctant to incorporate medical cannabis into their practice, as they are uninformed about dosages to recommend, what ailments can be effectively treated, and what state regulations they are required to adhere to. Fortunately, there are many who are preemptively seeking to educate themselves. Healthway Education Systems offers in-depth, comprehensive education in medical cannabis to individuals who attend its informative seminars. Caregivers and those who operate dispensaries are also able to benefit from education in medical cannabis, as it will offer them the knowledge necessary to utilize medical cannabis as safely and effectively as possible. The course, which will be located at The Parsons Center for Health and Wellness 1101 N Central Ave Phoenix, AZ 85004, begins at 8:30 AM and lasts until 4 PM. Attendees should arrive by 8:00 AM in order to register. This activity is jointly provided by Global Education Group and Healthway Education Systems, and has been approved to provide participants with 4 AMA PRA Category 1 Credits, which can be used to satisfy the annual license renewal requirements that medical professionals have. The seminar will feature medical professional Dr. Gregory Smith, MD. Smith is widely acclaimed throughout the medical cannabis industry for the publication of one of the field’s first medical textbooks that has been peer-reviewed, called “Medical Cannabis, Basic Science & Clinical Applications.” Dr. Smith’s expansive 30-year career, half of which was spent working in California, has provided him with extensive insight on the medical cannabis industry. Dr. Gregory Smith’s knowledge of medical cannabis and its properties will serve as a fantastic primary resource for those who attend Healthway Education’s event in Phoenix. In order to safely recommend medical cannabis to patients, professionals must first attain the necessary information before it can be suggested as a treatment option. Be sure to take advantage of this unique opportunity that offers participants the chance to interact with an established expert in the medical cannabis space. In order to register for Healthway Education’s exclusive, comprehensive seminar, call 1- 888-994-8495 or visit healthwayeducationregistration.com For events or press inquiries please contact media relations liaison, Dana Blickensderfer at email@example.com or call 813-775-7107. About Healthway Education Systems Healthway Education Systems is the Premier industry leader in Accredited Medical Cannabis Education, Nationally and Internationally. Healthway Education Systems specializes in Certified Training and Accredited Education for healthcare providers, administrators, patients, and cannabis industry professionals. Healthway Education Systems bridges the gap between State medical marijuana programs, medical education and responsible patient care. For more information, please visit: http://healthwayeducation.com/
News Article | February 15, 2017
The Conference Forum has announced the launch of the 2nd annual Clinical Trial Collaborations (CTC) conference in Boston on April 3-4, 2017. Led by Co-Chair Katherine Vandebelt, Global Head of Clinical Innovation at Eli Lilly, the CTC conference is the only strategic-level event in the US entirely focused on collaborations needed for 21st century drug development. Valerie Bowling, Executive Director of the CTC event, said, “The future of collaborations in drug development will require partners we never thought of before and new models for outstanding project delivery.” The CTC conference offers a variety of sessions that illustrate new collaboration techniques to drive improved clinical trial outcomes and bring clinical trial professionals closer to patients. Ken Getz, Director of Sponsored Research Programs at Tufts CSDD, will kick off the event with a presentation titled, “How the Clinical Collaborations Landscape Is Changing and Its Impact on R&D Operations.” The CTC conference also will feature three first-time keynote presentations: Takeda on their Transformational Clinical Development and Marketed Product Partnership with PRA Health Sciences with Dr Andy Plump, Director, Chief Medical and Scientific Officer, Takeda Models for Exquisite Project Delivery with Internal and External Partners with Dr Andy Lee, Senior Vice President, Head of Global Clinical Trial Operations, Merck In addition, the CTC conference will feature: The CTC conference offers presentations that deliver insightful clinical trial ideas and challenges for R&D operations, contract resource organizations (CROs) and site executives. It serves as an ideal event for senior-level clinical operation executives from large, medium and small pharmas, CROs, sites and patient advocacy organizations. The CTC event is proud to have CenterWatch as its exclusive lead media partner. CenterWatch is the leading source of clinical trial information for both clinical research professionals and patients. Learn more about CenterWatch. To find more about the CTC conference, click here. About The Conference Forum The Conference Forum is a drug development industry research firm and presents specialized events for professionals in the life science and healthcare industries. The company currently offer conferences for R&D leaders, clinical development professionals, biotech executives, VCs, drug delivery specialists, patient advocates and FDA executives. The Conference Forum’s mission is to create the best content, exchange ideas and provide quality networking to help move therapeutics to patients faster. Learn more about The Conference Forum.
News Article | March 1, 2017
The American Case Management Association (ACMA) is pleased to announce the release of its 2017 update to Compass, the popular online learning system designed to provide standardized training for case management staff and physician advisors. Suitable for standardizing both new-hire on-boarding and annual competency-validation, Compass teaches and tests comprehensive, foundational knowledge in case management and physician advisory practices. Content is divided into interactive video modules that average 30 minutes in length. Module content is monitored and updated by an expert panel advisory board of case management and physician advisor thought leaders from a variety of healthcare provider settings nationwide. Modules feature video recordings of professional presenters and include more interactive case studies, simulations, and other points of interactivity, allowing trainees to test their application of knowledge with real-world scenarios before fully -validating their knowledge with competency quizzes for each module. The program offers 13 hours of continuing education for nurses, social workers and those with their Accredited Case Manager (ACMTM) certification. It also includes 15.25 AMA PRA Category 1 CreditsTM for physicians jointly provided by the Postgraduate Institute for Medicine and ACMA. The 2017 curricula will contain fully reviewed and revised training content reflecting changes to industry standards and federal regulations, including: Subscribers can also expect the addition of an introductory pediatric case manager course with a focus on the family-centered care model and application of general case management principles to the child population. Compass was made available to over 20,000 case managers and nearly 300 physician advisors nationwide in 2016. It has been praised by Dr. James Jones, system-wide Director of Care Management at Cone Health for automating, “Some very tedious processes around regulatory requirements, CEUs, and Orientation processes and…[bringing the] Department into the 21st Century.” To learn more about this comprehensive training system or to schedule a live demo, contact Aaron Van Son at productsales(at)acmaweb(dot)org or 501-907-2262. You can also find out more by visiting http://www.acmaweb.org/compass. About ACMA: Founded in 1999, the American Case Management Association (ACMA) is a national, non-profit, professional membership association, which strives to provide resources, solutions and support for Case Management and Transitions of Care professionals. ACMA is comprised of more than 6,300 members nationwide, including nurses, social workers, physicians and other professionals affiliated with case management. Through a variety of educational conferences and networking events at both the state and national level, ACMA provides its members with numerous opportunities to develop their skills, grow in their profession and learn from the experiences and practices of fellow members. For more information, visit http://www.acmaweb.org.
News Article | February 27, 2017
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--MEDNAX, Inc., the national health solutions partner specializing in neonatology, anesthesiology, maternal-fetal medicine, other pediatric services, radiology, and management services, is pleased to announce MEDNAX’s Center for Research, Education and Quality (CREQ) has received its third consecutive Accreditation with Commendation from the Accreditation Council for Continuing Medical Education (ACCME) — the highest distinction awarded by the organization. MEDNAX has earned Accreditation with Commendation in the last two, 6-year cycles for 2004 and 2010. ACCME accreditation assures the medical community and the public that continuing medical education (CME) programs provide physicians with relevant, effective, practice-based CME that supports health care quality improvement. The rigorous, multi-level accreditation process includes a thorough internal review of each organization’s CME programs. Accreditation standards ensure that CME is designed to be independent, free of commercial bias, and based on valid content. “This accomplishment validates MEDNAX’s commitment to provide continuing medical education that positively impacts quality of care on a national level,” said Jorge Del Toro, M.D., Chief Medical Officer, Women’s and Children’s Services for MEDNAX. “To enhance our programs further, MEDNAX offers physicians the ability to practice in environments where they can improve outcomes by engaging in other education and quality initiatives.” MEDNAX offered nearly 20,000 CME credits and nearly 8,000 continuing nursing education (CNE) credits across its core specialties to more than 700 physicians and nearly 500 advanced practitioners. From 2010 to 2015, MEDNAX offered CME credits (AMA PRA Category 1 Credits™) to more than 53,000 physicians, as well as 50,000 individuals in other clinical disciplines. MEDNAX, Inc. is a national health solutions partner comprised of the nation's leading providers of physician services. Physicians and advanced practitioners practicing as part of MEDNAX are reshaping the delivery of care within their specialties and subspecialties, using evidence-based tools, continuous quality initiatives, clinical research and telemedicine to enhance patient outcomes and provide high-quality, cost-effective care. The company was founded in 1979, and today, through its affiliated professional corporations, MEDNAX provides services through a network of more than 3,675 physicians in all 50 states and Puerto Rico. In addition to its national physician network, MEDNAX provides services to health care facilities and physicians in over 40 states through two complementary businesses, consisting of a management services organization and a consulting services company. Additional information is available at www.mednax.com.
News Article | February 20, 2017
The 7th annual Great Debates & Updates in Hematologic Malignancies, an interactive, two-day debate-driven conference will highlight the most critical recent developments in hematologic malignancies, providing practical insights to community and academic oncologists. The conference will be held on April 7-8, 2017 at the New York Marriott Downtown in New York City, and more than 200 clinicians attend annually. This conference “addresses and summarizes the hottest topics in the field,” said John P. Leonard, MD, conference co-chair and Vice Chairman for Clinical Research of the Weill Cornell Department of Medicine. “Additionally, this meeting will highlight the key perspectives that clinicians and clinical research physicians working in hematologic malignancies need to consider in their daily activities.” With more than 100 clinical trials investigating hematologic malignancies currently underway community and academic oncologists will benefit greatly from the presentations covering advances in the field led by the more than 20 key opinion leaders from the world’s leading institutions who will serve as conference faculty. Both the debates and the selected presentations will give critical insight into how new advances and data can be incorporated into current practice. All talks integrate substantial audience interaction with faculty, allowing attendees to really engage with experts. “The field of hematology and hematological malignancies is rapidly evolving,” said David P. Steensma, MD, conference co-chair and Associate Professor of Medicine at Harvard Medical School. He adds, “This program includes a range of up-to-date, clinically-relevant topics in leukemia, lymphoma, myeloma, and non-neoplastic hematology and will cover all the relevant major topics discussed at the most recent ASH meeting in December. We have recruited faculty who are experienced clinicians and content experts in order to make the program as engaging and useful as possible.” Entering into its seventh year, Great Debates & Updates in Hematologic Malignancies is chaired by John P. Leonard, MD (Weill Cornell Medicine), Robert Z. Orlowski, MD, PhD (MD Anderson Cancer Center) and David P. Steensma, MD (Dana-Farber Cancer Institute.) Imedex will certify this Congress for up to 12.25 AMA PRA Category 1 Credits™. Successful completion of this CME activity will enable attendees to earn MOC points towards the American Board of Internal Medicine’s (ABIM) Maintenance of Certification (MOC) program. Conference registration is currently open and registration discounts are available when registering in advance. Visit http://www.GreatDebatesinHematologicMalignancies.com for additional information, including a full agenda listing with faculty presenters. About Imedex® Imedex is the industry leader in developing and delivering independent, accredited healthcare education. The Company’s programs specializing in hematology, oncology, and gastroenterology are provided through live events around the world as well as through effective online educational opportunities for on-the-go healthcare providers. Imedex’s high-quality scientific programming translates the latest research into clinically relevant information. Our activities facilitate the needs of time-constrained healthcare professionals who are inundated by information through exceptional organization and outstanding educational value — all with a proven and sustained impact on patient care. Imedex provides over 50,000 E-learning experiences annually and its live conferences have welcomed more than 100,000 attendees since 2001. The Company has a global footprint and operates in the United States, Europe, and Asia. At Imedex, we believe education is the best medicine®. For more information on Imedex and upcoming conferences, visit us online at http://www.imedex.com, on our E-learning Center at http://elc.imedex.com, or via email at registration(at)imedex(dot).com. Great Debates & Updates in GI Malignancies March 24-25, 2017 | New York, New York Wyndham New Yorker Hotel http://www.greatdebatesingimalignancies.com
News Article | February 22, 2017
BIRMINGHAM, Ala., Feb. 22, 2017 /PRNewswire/ -- ProAssurance Corporation (NYSE: PRA) reports the following results for the quarter and year ended December 31, 2016: Consolidated Income Statement Highlights ($ in thousands, except per share data)...
News Article | February 17, 2017
Yesterday I caught up with Tom Blomfield, co-founder and CEO of “challenger” bank Monzo. The startup is building a digital-only bank, or “smart bank,” as Blomfield calls it, and last August was granted a U.K. banking licence “with restrictions” by the U.K. regulators FCA and PRA, as it prepares to launch a full current account later this year. As it exists today, Monzo’s more than 100,000 users get access to a pre-paid MasterCard and accompanying iOS and Android app. It offers the ability to do things like track your spending in real time, view geolocation-marked transactions on a map, view spending by category and get a graphical timeline of your overall expenditure. In our call, we talked about why Blomfield and his 80-plus team are building a new bank, whether or not we are in a fintech banking app bubble and what he thinks the impact will be of upcoming PSD2 EU regulation intended to force incumbent banks to open up. Candidly, he also confirmed that Monzo has already turned down an acquisition offer from a major bank, and explained why he thinks it would have been a mistake to sell. You can listen to a lightly edited version of the interview below.
News Article | February 22, 2017
NORFOLK, Va., Feb. 22, 2017 (GLOBE NEWSWIRE) -- As previously announced on Jan. 26 in conjunction with the press release regarding the sale of the Company’s Government Services business, PRA Group, Inc. (Nasdaq:PRAA), a global leader in acquiring nonperforming loans, will report its fourth quarter and full year 2016 results after market close on Tuesday, Feb. 28, 2017, followed by a webcast and conference call at 5 p.m. ET. To listen to PRA Group’s webcast, visit http://ir.PRAgroup.com/events.cfm. To listen by phone on Feb. 28, call 888-695-7639 in the U.S. or 970-315-0482 outside the U.S. The conference ID is 58396415. To listen to a replay of the call until Mar. 7, 2017, call 855-859-2056 in the U.S. or 404-537-3406 outside the U.S. and use conference ID 58396415. About PRA Group As a global leader in acquiring and collecting nonperforming loans, PRA Group (Nasdaq:PRAA) returns capital to banks and other creditors to help expand financial services for consumers in the Americas and Europe. With almost 4,000 employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt and provide a broad range of additional revenue and recovery services to business clients. For more information, please visit www.pragroup.com.