Defining Hospice Care

Avesis Incorporated pic
Avesis Incorporated
Image: avesis.com

Alan S. Cohn serves as the chief executive officer of Avesis Incorporated, a provider of convenient eye care plans that meet Medicaid/Medicare standards. Outside of work, Alan S. Cohn has volunteered at Levindale Hebrew Geriatric Center and Hospital, which offers hospice care to patients.

Hospice care is centered on providing compassionate care to patients in their final days of life so that they may pass peacefully and comfortably. Caregivers recommend hospice care when the patient no longer responds to drugs and has less than six months to live.

Hospice care can be given at home, in a hospital, at a nursing home, or in a freestanding hospice care facility. Using a team-oriented approach, hospice care combines the efforts of personal physicians, nurses, social workers, clergy, and home health aides to offer pain management and physical, emotional, and spiritual support.

Hospice care professionals also provide the patient’s family members with support and counseling throughout the duration of the patient’s care and after the patient’s passing.

Evaluations at the Center for Memory and Behavioral Disorders

Center for Memory and Behavioral Disorders pic
Center for Memory and Behavioral Disorders
Image: lifebridgehealth.org

Alan S. Cohn joined Phoenix, Arizona-based Avesis Incorporated as chief executive officer in 1992. Alan S. Cohn also engages with a number of nonprofits and industry organizations, and he previously served as a volunteer with the Levindale Hebrew Geriatric Center in Baltimore, Maryland.

The Levindale center provides seniors with a variety of long term-care and outpatient services. One of the organization’s facilities is the LifeBridge Health Center for Memory and Behavioral Disorders. Through a partnership with The Sandra and Malcolm Berman Brain & Spine Institute, the LifeBridge Health Center provides long-term care to patients living with dementia. Evaluations are provided immediately and are generally finalized in less than one day.

These initial evaluations include analysis conducted by a full team of urologists, neuropsychologists, geriatric psychiatrists, and a variety of other health care professionals. Following the evaluation, patients and their families are guided through an explanation of the patient’s condition and provided an outline for the most effective course of treatment. Further information on the nature of dementia and causes of the disease is provided via educational resources, while doctors can also offer information on external support services. For more information on evaluations, visit www.lifebridgehealth.org.

About the Services of AbsoluteCARE

AbsoluteCARE pic
AbsoluteCARE
Image: absolutecare.org

A graduate of the University of Baltimore School of Law, Alan S. Cohn has served as the chief executive officer of Avesis Incorporated since 1992. During his tenure, Alan S. Cohn has achieved revenue increases more than 30 times as well as the successful incubation of the AbsoluteCARE medical center and pharmacy model.

Dedicated to patient‐centered medical care, AbsoluteCARE has locations in Baltimore, Maryland, and Atlanta, Georgia, with each offering cutting‐edge technology and an experienced staff. Both locations have primary care and chronic condition management services for adults and children 16 years of age and older, and the Atlanta‐based location also deals with the full spectrum of infectious diseases from commonplace to rare. With other services ranging from radiology and infusion to mental health, both AbsoluteCARE locations have education resources such as registered dietitians and group programs.

To help patients manage their health, AbsoluteCARE’s dietitians perform general assessments and assist with chronic conditions like diabetes and high cholesterol. The group programs address different health areas, depending on each patient’s needs and health goals. For instance, the meditation corner guides participants through relaxing mediations, and grocery store tours educate participants on the basics of reading product labels and managing money.

Guardian Announces Agreement To Acquire Leading Government Benefit Provider

Avēsis purchase would strengthen Guardian’s government programs business with three million members

The Guardian Life Insurance Company of America® (Guardian), a leader in employee benefits and one of the largest dental insurers in the country, has entered into a definitive agreement to acquire Avēsis Incorporated (Avēsis, OTC:AVSS), a leading government contract vision, dental and hearing provider with 440 employees and based in Owings Mills, MD with an operational center in Phoenix, AZ.

Chris Swanker, currently Guardian’s vice president of group and worksite markets, will assume the role of chief executive officer of Avēsis upon completion of the acquisition. Alan Cohn, Avēsis’ current chief executive officer, will remain with Avēsis as a business development and strategy consultant.

Avēsis is one of the leading administrators for vision, dental and hearing benefits for government and commercial programs with three million members administered under Medicaid, CHIP, and Medicare Advantage programs; and 1.5 million members covered by their group vision programs. Avēsis has partnerships with managed care organizations holding government contracts in 21 states.

“Guardian’s acquisition of Avēsis underscores our commitment to delivering affordable, quality vision, dental and hearing care to Americans where and how they prefer to be served,” said Mr. Swanker. “Avēsis’ proprietary network of independent dentists and optometrists provide significant synergies with Guardian’s extensive benefits portfolio, as well as those of our subsidiaries Premier Access Insurance Company and Access Dental Services.”

The acquisition strengthens Guardian’s government programs business with an experienced management team possessing deep knowledge of the market, a scalable operating and technology platform, existing relationships with leading managed care organizations, and a broad product portfolio.

“We are excited to join Guardian, a leader in employee benefits with an enviable 155-year history of commitment to its clients and employees,” said Mr. Cohn. “Working together, Guardian and Avēsis will strengthen our position as a leading administrator of vision, hearing and dental programs for government and commercial employees throughout the country.”

The closing of the transaction is subject to regulatory approval and satisfaction of other closing conditions.

Important Information for Avēsis Stockholders

Under the terms of the purchase agreement, in connection with the closing of the transaction Avēsis stockholders will receive an amount in cash of $16.00 to $16.30 for each share of Avēsis common stock they hold. They may also receive additional amounts in cash of up to $0.80 for each share of Avēsis common stock they hold upon the release of escrow funds over the next eighteen months following closing of the transaction and may also receive an additional amount in cash up to $5.00 for each share of Avēsis common stock they hold if certain revenue thresholds are met following closing of the transaction. In a separate spin-off transaction, Avēsis stockholders will also receive the stock of AbsoluteCARE, Inc. on a pro rata basis as AbsoluteCARE will be spun off immediately prior to the acquisition of Avēsis. The spin-off and the acquisition are expected to close in the first quarter of 2016.

Avēsis will mail an Information Statement to stockholders within the next 10 days summarizing the terms and conditions contained in the purchase agreement and including other important information regarding the spin-off of AbsoluteCARE and the acquisition by Guardian.This press release does not constitute a solicitation of any vote or approval. Stockholders are urged to read the Information Statement and other documents when they become available because they will contain important information about the proposed transactions.

The purchase agreement includes a “go-shop” period, during which Avēsis will actively solicit alternative proposals for the next 30 days continuing through January 20, 2016. For an additional 15 days following that period, the Avēsis Board of Directors will be permitted to continue discussions and enter into or recommend a transaction with any person or group that submitted a qualifying proposal during the 30 day period. The termination fee would be $7.8 million.

The Board of Directors of Avēsis unanimously approved the purchase agreement. The holders of a majority of the Avēsis common stock outstanding are expected to approve the acquisition by written consent, promptly after execution of the purchase agreement.

About Guardian

The Guardian Life Insurance Company of America® (Guardian) is one of the nation’s largest mutual life insurers, with $6.8 billion in capital and $1.3 billion in operating income (before taxes and dividends to policyholders) in 2014. Founded in 1860, the company has paid dividends to policyholders every year since 1868. Its offerings range from life insurance, disability income insurance, annuities, and investments for individuals to workplace benefits, such as dental, vision, and 401(k) plans for businesses. The company has approximately 6,000 employees and a network of over 3,000 financial representatives in more than 70 agencies nationwide. For more information about Guardian, please visit www.guardianlife.com.

About Avēsis

Founded in 1978, Avēsis has been providing essential ancillary benefit solutions for over 35 years. The Company offers vision, dental and hearing benefit programs to reduce sponsor and participant costs by delivering services through provider networks, to address the needs of clients and their covered members. The Company has corporate offices in Phoenix, Arizona and Owings Mills, Maryland.

Forward-looking Statements

Any statements in this press release about prospective performance and plans for Avēsis, the expected timing of the completion of the proposed acquisition and spin-off and the ability to complete the proposed acquisition, and other statements containing the words “estimates,” “believes,” “anticipates,” “plans,” “expects,” “will,” and similar expressions, other than historical facts, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Factors or risks that could cause our actual results to differ materially from the results we anticipate include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the purchase agreement; (2) the inability to complete the proposed acquisition due to the failure to satisfy regulatory or other conditions to completion of the proposed acquisition; (3) risks related to disruption of management’s attention from the Avēsis ongoing business operations due to the transaction; and (4) the effect of the announcement of the proposed acquisition on Avēsis’ relationships with its customers, operating results and business generally.

Actual results may differ materially from those indicated by such forward-looking statements. In addition, the forward-looking statements included in this press release represent our views as of the date hereof. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.

View source version on businesswire.com:http://www.businesswire.com/news/home/20151221005998/en/

 

NAVCP Creates Administrative Simplification Committee

An insurance executive, Alan S. Cohn dedicates his career to Avesis in Phoenix, Arizona, where he leads as CEO. Alan S. Cohn ensures his company offers quality services by maintaining membership with the National Association of Vision Care Plans.

In May of 2015, the National Association of Vision Care Plans (NAVCP) shared a press release about its newly formed Administrative Simplification Committee. Addressing current requirements stipulating eye care professionals must receive credentials from each vision care plan they work with, the committee will create a universal credentialing system that streamlines the process so professionals can dedicate more time to patient care.

Additionally, the team aims to reduce resources and expenses needed to enforce the system as well as give eye care professionals more flexibility to work with any provider they choose. Representatives from Avesis, Superior Vision, Davis Vision, National Vision, UnitedHealthcare Vision, General Vision Services, and VSP Vision Care, among others, make up the committee.

About the Committees of the National Association of Vision Care Plans

As chief executive officer of Avesis, Alan S. Cohn oversees the managed health care company’s vision, dental, and hearing programs. Alan S. Cohn is also a member of such industry-related organizations as the National Association of Vision Care Plans (NAVCP).

Founded in 2002, NAVCP is dedicated to furthering and standardizing the communication, credentials, legislation, regulations, and technology of the managed vision care industry. Both allied and primary members of NAVCP receive up-to-date industry and legislative information, as well as access to the organization’s annual conference.

To best serve the organization and its members, NAVCP focuses on three different industry committees. The Medical Directors Committee provides consumers and eye care professionals with educational materials on the latest NAVCP policies and industry innovations. The Technology Committee works to advance the industry’s electronic transaction standards and simplify its administrative requirements. Finally, the Public Policy Committee deals with state and federal legislative bodies to propose initiatives for the vision industry.

NADP to Hold CONVERGE 2015 in Palm Desert, California

An experienced health care executive, Alan S. Cohn has worked in the industry for over 30 years and now serves as president and CEO of Avesis. In addition to his work at Avesis, Alan S. Cohn maintains memberships in organizations such as the National Association of Dental Plans (NADP), a nonprofit trade group that supports the dental benefits industry through various programs and activities.

Each year, NADP’s annual CONVERGE conference attracts NADP members and leaders from across the dental benefits industry for several days of learning and networking activities. Registration is now open for CONVERGE 2015, which will take place September 28-October 1, 2015, at the JW Marriott Desert Springs Resort and Spa in Palm Desert, California.

CONVERGE 2015 will feature a variety of educational sessions and presentations from notable speakers, including Michael Rogers, an award-winning investigative journalist with experience in business and technology. Outside of the educational activities, conference attendees will have the opportunity to explore an exhibit hall and take part in a NADP golf tournament and fun run. For more information, visit http://www.nadpconverge.org.