PRESS RELEASE
PERFORMANT FINANCIAL CORPORATION LAUNCHES NEW CORPORATE BRAND
New Corporation Builds Upon Longtime History of Success; Provides Advisory Services and Technology Solutions in Healthcare, Education, Governmental Collections
LIVERMORE, Calif., Nov. 17, 2005 –
Building on a 30-year legacy of industry-leading results and superior
execution, Performant Financial Corporation ("Performant") launched its
new corporate identity today. Performant will be the parent company for
a group of businesses focused on delivering trusted advisory services
and technology solutions to public and private sector customers across
the healthcare, education, and collections industries.
"Today is an incredibly exciting day for each of the 850 employees that
are part of the Performant family," said Lisa Im, President and CEO of
Performant. "Establishing the Performant brand enables our company to
build upon our technology and education expertise and capitalize on emerging
new business opportunities across a broad range of industries. While the
Performant brand extends our reach, the business continues to rest upon
our core values: excellence in everything we do; constant innovation in
products and services; and respect for our employees and clients."
Performant currently consists of four core businesses: DCS (Diversified
Collection Services), Performant Audit & Recovery, VFI (Vista Financial
Inc.) and Performant Hosted Services. Each of these businesses is rooted
in the accounts receivable management industry, where the company has
30 years of industry leadership. Over the past three decades, Performant
has played a crucial role in the development of federal and state legislation
and policies that guide recovery processes across several industries.
The company has also developed innovative technology solutions that streamline
business processes and help customers strengthen their businesses.
DCS (Diversified Collection Services) DCS is the premier
provider of debt repayment services on behalf of state and federal government
agencies, as well as many commercial organizations. The company has unique
expertise in recovering unpaid student loans, delinquent federal and state
taxes, and even outstanding non-tax debt. Building strong client relationships
is a hallmark of DCS, as many of the company's customers have been valued
partners for more than 20 years. DCS currently handles an inventory in
excess of $40 billion and has successfully recovered more than $4 billion
for clients over the past 30 years.
Performant Audit & Recovery
Performant Audit & Recovery specializes in delivering innovative audit
and recovery services for the $80 billion healthcare audit and recovery
industry. Performant Audit & Recovery has built the industry's most
focused team of specialists, with employees having an average of 10 years
of industry experience in healthcare management or policy development.
The Centers for Medicare and Medicaid Services (CMS) has selected Performant
Audit & Recovery as a strategic consultant for developing model claims
analysis technology and recovery practices.
VFI (Vista Financial, Inc.)
VFI specializes in helping individuals gain control over their student
loan debt. The company's Federal Consolidation Loan program enables borrowers
to greatly reduce their monthly loan payments through tailored repayment
plans and interest rate incentives, while their private loan products
help students and their parents meet the escalating costs of college tuition.
VFI is focused on being a partner for its clients, understanding their
concerns and listening to their needs so that they can meet their financial
goals and achieve financial freedom.
Performant Hosted Services
Performant Hosted Services provides on-demand access to the Performant
Debt Recovery System on a subscription basis for guaranty agencies, government
agencies and private lenders. Features of the Performant system include
default prevention, default recovery, inventory management capabilities,
and a state-of-the-art administrative support workflow system. Performant's
system is acknowledged as the most sophisticated high-performance platform
in government account receivables management and delivers the same functionality
currently being utilized in the DCS collection centers.
About Performant Financial Corporation
Headquartered in Livermore, California, Performant Financial Corporation
delivers trusted advisory services through best-in-class technology solutions
and unparalleled execution. The company is built upon three foundational
principles: a commitment to innovation; building long-term, trusted relationships
with partners and customers; and consistent investments in strengthening
the industry's most highly skilled workforce. Performant also has offices
in Lathrop, California; Grants Pass, Oregon; and San Angelo, Texas. More
information is available at www.performantcorp.com.
Media Contact:
Andrew Fairbanks
Performant Financial Corporation
925 960 4778
afairbanks@performantcorp.com