Forterus Plans Strategic Expansion in 2010
November 09 2009 - 7:30AM
PR Newswire (US)
MURRIETA, Calif., Nov. 9 /PRNewswire-FirstCall/ -- Forterus Inc.
(Pink Sheets: FTER) is planning a strategic expansion in 2010 by
leasing new facilities in Ventura, Los Angeles and San Diego
counties. The company, which currently provides drug and alcohol
treatment services through its 65-bed A Better Tomorrow Treatment
Center subsidiary in Murrieta, is seeking a conditional use permit
for a 22-bed facility in Ventura County. Forterus is also
negotiating to lease additional facilities in Los Angeles and San
Diego counties. All three new facilities are expected to open in
2010. "Insurance companies only refer clients to approved drug and
alcohol treatment providers within a certain distance of their
homes, so the easiest way for us to grow the insurance referral
portion of our business is to open additional facilities in
different Southern California markets," said Forterus CEO Paul
Howarth. Forterus's A Better Tomorrow Treatment Center subsidiary
has been accredited by the Commission on Accreditation of
Rehabilitation Facilities (CARF), which, in addition to placing it
among the top 5 percent of drug and alcohol treatment providers in
California, opens the door to insurance coverage for its treatment
programs. Forterus will seek CARF accreditation for its Ventura,
Los Angeles and San Diego facilities as soon as it obtains the
appropriate licenses for these new facilities. "Our plan is to
become the dominant insurance provider for drug and alcohol
treatment programs in Southern California," Howarth said. However,
Forterus may scale back the number of treatment beds it provides in
Murrieta as it opens additional facilities in other Southern
California locations. "In a perfect world, I would love to have 100
beds," Howarth said. "But if the economy dictates that we can only
maintain high occupancy levels at 75 beds, that's the route we'll
take. Much will depend on the economy and the demand for our
services in different geographic markets. Our focus is strategic
growth, and we are positioning Forterus so that when the economy
opens up, we will be in a great position to take advantage of it."
In addition to receiving insurance company referrals, Forterus also
has significant numbers of cash-pay clients as well as clients who
take advantage of the company's financing programs for drug and
alcohol treatment services. Forterus is one of only a handful of
providers in the country that offer financing for drug and alcohol
treatment programs. "About 5 to 10 percent of our clients take
advantage of our financing programs each month," Howarth said,
adding, "Next year, we are on place to finance well over $1 million
worth of drug and alcohol treatment services." For more information
about Forterus and the variety of healthcare services it provides,
including behavioral, intervention services, drug and alcohol
rehabilitation, pain management and physical therapy, visit
http://www.forterushealthcare.com/ and http://www.abttc.com/.
CONTACT: Paul Howarth, CEO (888) 257-8345 DATASOURCE: Forterus Inc.
CONTACT: Paul Howarth, CEO, Forterus, +1-888-257-8345, Web Site:
http://www.forterushealthcare.com/
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