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Secured Independence, Inc. Announces First Contract For Wellness and Disease Management Services In Long-Term Care Insurance Industry

Posted on: Monday, 17 March 2008, 12:00 CDT

Secured Independence, Inc. (SI), today announced it entered into the first contract for its Secured WellnessSM LTCI program with Penn Treaty Network America Insurance Company, a subsidiary of Penn Treaty American Corporation (NYSE: PTA). Secured WellnessSM LTCI is the first and only comprehensive wellness and disease management program for the long-term care insurance (LTCI) market, which is specifically designed to help LTCI policyholders identify their risks of chronic illness or disability and manage those risks proactively, thereby enhancing their independence and well-being while delaying or avoiding loss of independence and the need to utilize LTCI benefits.

"We are excited about working with Penn Treaty, who has been a leader in bringing wellness services to the long-term care insurance industry," said Geoff Walton, president and CEO of Secured Independence. "Penn Treaty shares our goal of assisting LTCI policyholders in obtaining knowledge, tools and support to remain healthy and independent. The application of best practices, including recent treatment and service advances, for Alzheimer's disease, falls, frailty and other conditions that contribute to LTCI claims may significantly reduce community and facility services for LTCI policyholders, but only if proactive screenings are performed so these conditions can be addressed in the earliest stages. We anticipate that the "Partnership in Successful Aging" created by our Secured WellnessSM LTCI program may reduce claim costs while increasing participant satisfaction."

"The Secured WellnessSM LTCI program is an important part of the Wellness Privileges Program we have instituted for our policyholders," said William Hunt, President and Chief Executive Officer of Penn Treaty. "Penn Treaty believes that long-term care insurers should help their policyholders to maximize their health and independence. We look forward to working with Secured Independence to help achieve this important goal."

Secured Independence has partnered with Matria Healthcare, Inc. (NASDAQ: MATR) a leading provider of comprehensive health enhancement programs to health plans, employers and government agencies. Matria currently owns 19% of Secured Independence, with the option to buy up to 100%. "Matria's strategic alliance with Secured Independence allows us to bring our advanced technologies and programs to the senior marketplace. In combination, these have been proven to reduce health care costs and improve the lives of our clients," said Parker H. Petit, Chairman and Chief Executive Officer of Matria Healthcare. "We believe that a tremendous opportunity exists to help seniors address their unmet needs and live a healthier life. I believe SI and Matria can make a significant impact to ultimately reduce the burden of disability in this population."

Secured Independence has also retained some of the world's best-known and published researchers with expertise in Alzheimer's disease, cardiovascular risk, fall risk, frailty and the risk of repeated hospital admissions. These researchers have worked with Secured Independence to design targeted programs to help seniors identify, manage and reduce their risks of these conditions. Secured Independence is in advanced negotiations with other long-term care insurers to implement its Secured WellnessSM LTCI program.

About Secured Independence

Secured Independence, Inc., with over 100 years of combined experience in delivery of education, advice and specialized care for the senior market, has developed products that, for the first time, bring proven wellness and disease management technologies to senior markets, including the long-term care insurance industry. For more information about Secured Independence, visit www.siwellness.com.

About Penn Treaty American Corporation

Penn Treaty American Corporation, through its wholly owned direct and indirect subsidiaries, Penn Treaty Network America Insurance Company, American Network Insurance Company, American Independent Network Insurance Company of New York, United Insurance Group Agency, Inc., Network Insurance Senior Health Division and Senior Financial Consultants Company, is primarily engaged in the underwriting, marketing and sale of individual and group accident and health insurance products, principally covering long-term nursing home and home health care. Additional information about the company can be viewed at www.penntreaty.com.

About Matria Healthcare

Matria Healthcare is a leading provider of comprehensive health enhancement programs to health plans, employers and government agencies. Matria is dedicated to developing better educated, motivated and self-enabled healthcare consumers and supporting clinicians in managing the care of their patients. The Company manages major chronic diseases and episodic conditions including diabetes, congestive heart failure, coronary artery disease, asthma, chronic obstructive pulmonary disease, high-risk obstetrics, cancer, musculoskeletal and chronic pain, depression, obesity, and other conditions. Matria delivers programs that address wellness, healthy living, productivity improvement and patient advocacy, and provides case management of acute and catastrophic conditions. Headquartered in Marietta, Georgia, Matria operates through nearly 50 offices around the United States. More information about Matria can be found online at www.matria.com.

SAFE HARBOR STATEMENT

This press release contains forward-looking statements. Such statements include but are not limited to the impact the Secured WellnessSM LTCI program on reducing claim costs and increasing participant satisfaction, the impact of Matria's relationship with Secured Independence on the demand within the LTCI industry for Matria's technologies and wellness and disease management programs, the impact of the programs on reducing healthcare costs, improving lives and reducing the burden of disability in the seniors' population. These statements are based on current information and belief, and are not guarantees of future performance. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include decreased interest in or demand within the LTCI industry for Matria's wellness and disease management programs, failure of the Secured WellnessSM LTCI program on reducing claim costs and increasing participant satisfaction, failure of the wellness and disease management programs to reduce healthcare costs, improve lives and reduce the burden of disability on the seniors' population, developments in the healthcare industry, third-party actions over which Matria does not have control, regulatory requirements applicable to Matria's business and the risk factors detailed from time to time in Matria's periodic report and registration statements filed with the Securities and Exchange Commission, including Matria's Annual Report on Form 10-K for the year ended December 31, 2007. By making these forward-looking statements, Matria does not undertake to update them in any manner except as may be required by Matria's disclosure obligations in filings it makes with the Securities and Exchange Commission under the federal securities laws.

Source: Business Wire

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