CURATIVE HEALTH SERVICES INC

CURATIVE HEALTH SERVICES INC

Previous company name
CURATIVE TECHNOLOGIES INC
Name change date
3/28/1993
Company Overview
Curative Health Services, Inc. is engaged in delivering care and clinical outcomes for patients experiencing serious medical conditions. The company was formerly known as Curative Technologies Inc. and was renamed as Curative Health Services, Inc. in March of 1993. The registered headquarters of the company is located in Nashua, New Hampshire.
Curative Health Services is a leading provider of Specialty Infusion and Wound Care Management services in the United States. The company operates in two business segments: Specialty Infusion, which provides a cost-effective alternative to hospitalization, delivering pharmaceutical products and comprehensive infusion services to pediatric and adult patients, and focuses on several therapies such as hemophilia clotting factor, anti-infective therapy, intravenous immune globulins and total parental nutrition; and Wound Care Management, which provides wound care services specializing in chronic wound care management such as revascularitization, infection control, protection devices, skin grafting, wound debridement, patient education and referrals.
In March of 2006, Curative Health Services filed voluntary petitions in the United States Bankruptcy Court for the southern district of New York.
Business Summary
Curative Health Services, Inc. delivers care and clinical outcomes for patients experiencing serious acute or chronic medical conditions. The Company’s Specialty Infusion business unit provides intravenous and injectable biopharmaceutical and compounded pharmaceutical products and infusion services to patients with chronic and critical disease states. The Wound Care Management business unit is a provider of wound care services specializing in chronic wound care management. It manages, on behalf of hospital clients, a nationwide network of Wound Care Center programs that offer a range of services for treatment of chronic wounds. On June 11, 2006, the Company filed for Bankruptcy under Chapter 11 in the United States Bankruptcy Court. On March 27, 2006, the Company and each of its direct and indirect subsidiaries filed voluntary petitions in the United States Bankruptcy Court for the southern district of New York.
Description and history
Curative Health Services, Inc., incorporated in 1984, delivers care and clinical outcomes for patients experiencing serious acute or chronic medical conditions. The Company’s Specialty Infusion business unit provides intravenous and injectable biopharmaceutical and compounded pharmaceutical products and infusion services to patients with chronic and critical disease states. The Wound Care Management business unit is a provider of wound care services specializing in chronic wound care management. It manages, on behalf of hospital clients, a nationwide network of Wound Care Center programs that offer a range of services for treatment of chronic wounds.

On June 11, 2006, the Company filed for Bankruptcy under Chapter 11 in the United States Bankruptcy Court. On March 27, 2006, the Company and each of its direct and indirect subsidiaries filed voluntary petitions in the United States Bankruptcy Court for the southern district of New York. On December 2, 2005, the Company sold certain personal property, licenses, permits, contracts, leases and patient files related to its specialty injectable and oral medications business, including Synagis to ProCare Pharmacy Inc. and ProCare Pharmacy Direct, Inc. (collectively, ProCare).

Specialty Infusion

The Specialty Infusion business unit provides injectable or infusible biopharmaceutical and compounded pharmaceutical products to patients with chronic health conditions, for which there is no known cure and to patients with critical disease states that require specialized expertise in high-touch injectable and infusion therapies. High touch therapies require clinical management, special product handling and specialized nursing administration. The Specialty Infusion business unit focuses on several therapies, including hemophilia clotting factor, anti-infective therapy, intravenous immune globulins (IVIG) and total parenteral nutrition (TPN). These products are used by patients with chronic or severe conditions, such as hemophilia, respiratory syncytial virus (RSV), immune system disorders, chronic or severe infections, nutritionally compromised and other severe conditions requiring nutritional support, cancer, rheumatoid arthritis, hepatitis C and multiple sclerosis.

All patient care is delivered through a national footprint of community-based branches. Each local branch has an experienced multidisciplinary team of pharmacists, nurses, reimbursement specialists and patient service representatives who manage all aspects of a patient’s infusion and related support needs. The Company purchases biopharmaceutical and other pharmaceutical products from suppliers and contracts with insurance companies and other payers to provide its services, which include coordination of patient care, 24-hour nursing and pharmacy availability, patient education and reimbursement billing and collection services. As of December 31, 2005, the Company had approximately 485 payer contracts and provided products or services in approximately 45 states.

Wound Care Management

The Wound Management Program consists of diagnostic and therapeutic treatment procedures that are designed to meet each patient’s specific wound care needs. The Company’s treatment procedures are designed to achieve results for wound healing based on significant experience in the field. In most cases, patients arriving at a Wound Care Center program have been treated with traditional wound healing techniques, but continue to suffer from chronic wounds. Upon the commencement of treatment under the Wound Management Program, medical personnel conduct a systematic diagnostic assessment of the patient. Specialized treatment plans are then established for the patient, based on the underlying cause of the wound and the status of the patient. After the assessment phase, the course of treatment in the Wound Management Program may include revascularization, infection control, wound debridement, skin grafting, nutrition, protection devices, patient education, referrals and effective management of care through patient/provider communications.

To measure the effectiveness of the Wound Management Program, the Company has developed a functional assessment scoring system to measure the healing of a wound. Under this system, a chronic wound is assessed when it is less than 100% epithelialized (that is, the wound is covered by a membranous cellular tissue that covers and protects a wound as it heals) and requires a dressing; it is completely covered by epithelium (a membranous cellular tissue that covers and protects a wound as it heals) but still requires intervention and dressing; maturing skin is present, but the wound requires a protective dressing, and mature skin requires preventive care only. The Company maintains a database of patient results that it has collected, containing over 534,000 patient records, as of December 31, 2005, which indicate an overall healing rate of approximately 89% for patients. As of December 31, 2005, the Wound Care Center network consisted of 109 outpatient clinics (103 operating and 6 contracted) located on or near campuses of acute care hospitals in approximately 30 states.

Formerly known as Curative Technologies Inc. and was renamed as Curative Health Services, Inc. In March of 1993

Business Line
Engaged in delivering care and clinical outcomes for patients experiencing serious medical conditions
Subsidiary

Advisor
ERNST & YOUNG LLP
IPO date
6/1991
US SIC Code
8093
Company Address
61, Spit Brook Road

City province or state postal code
03060, NASHUA, NH
Phone: +1 603 888 1500
Fax:
Country address: UNITED STATES OF AMERICA
Website url: www.curative.com