Accretive Health Postpones Fourth Quarter and Full Year 2012 Earnings Release

Tue Feb 26, 2013 5:16pm EST

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CHICAGO--(Business Wire)--
Accretive Health, Inc. (NYSE: AH), a leading provider of revenue cycle and
quality of care services to healthcare providers, today announced that it will
postpone the release of its financial results for the fourth quarter and full
year 2012, as well as its previously announced investor conference call
scheduled for February 27, 2013, because it is evaluating the timing of revenue
recognition for its revenue cycle management agreements. 

The Company is currently evaluating the manner in which it recognizes revenue
for its revenue cycle management agreements. Based on information available to
date, if the Company determines that a change is necessary, the Company may be
required to restate prior-period financial statements. The Company believes,
based on information available to date, that any such restatement would have no
impact on total revenue recognized over the life of a contract or the timing or
magnitude of cash flow from operations. This may defer the timing of revenue
recognition and may lead to an increase in deferred revenue or other liabilities
reported in prior periods. 

The Company expects to delay the filing of its Annual Report on Form 10-K for
the year ended December 31, 2012. 

The Company`s cash and cash equivalents as of December 31, 2012 were
approximately $177 million, after giving effect to the use of $36.8 million for
share repurchases in the fourth quarter of 2012 as part of the repurchase
program announced on September 4, 2012. The Company had no debt outstanding as
of December 31, 2012. 

Financial Guidance

The Company is withdrawing prior financial guidance provided on November 7, 2012
and will announce the revised date for reporting fourth quarter and full year
2012 financial results in a subsequent release. 

About Accretive Health

Accretive Health partners with healthcare providers to help them more
effectively manage their revenue cycles, strengthen their financial stability,
and improve the quality of care they provide while reducing overall healthcare
costs. Our people, processes and sophisticated integrated technology complement
our clients' existing resources to enhance results for patients, physicians and
staff. For more information, please visit www.accretivehealth.com. 

Safe Harbor

This press release contains forward-looking statements, including the Company`s
statements regarding the anticipated consequences of any restatement that may be
required as a result of the ongoing evaluation of the timing of revenue
recognition for the Company`s revenue cycle management agreements. All
forward-looking statements contained in this press release involve risks and
uncertainties. Our actual results and outcomes could differ materially from
those anticipated in these forward-looking statements as a result of various
factors, including the possibility that any restatement that may be required
could have unanticipated consequences and the factors set forth in our Quarterly
Report on Form 10-Q for the quarter ended September 30, 2012, filed with the SEC
on November 8, 2012, under the heading "Risk Factors." The words "strive,"
"objective," "anticipates," "believes," "estimates," "expects," "intends,"
"may," "plans," "projects," "would," and similar expressions are intended to
identify forward-looking statements, although not all forward-looking statements
contain these identifying words. We have based these forward-looking statements
on our current expectations and projections about future events. Although we
believe that the expectations underlying any of our forward-looking statements
are reasonable, these expectations may prove to be incorrect and all of these
statements are subject to risks and uncertainties. Should one or more of these
risks and uncertainties materialize, or should underlying assumptions,
projections, or expectations prove incorrect, actual results, performance,
financial condition, or events may vary materially and adversely from those
anticipated, estimated, or expected. 

All forward-looking statements included in this press release are expressly
qualified in their entirety by these cautionary statements. We wish to caution
readers not to place undue reliance on any forward-looking statement that speaks
only as of the date made and to recognize that forward-looking statements are
predictions of future results, which may not occur as anticipated. Actual
results could differ materially from those anticipated in the forward-looking
statements and from historical results, due to the uncertainties and factors
described above, as well as others that we may consider immaterial or do not
anticipate at this time. Although we believe that the expectations reflected in
our forward-looking statements are reasonable, we do not know whether our
expectations may prove correct. Our expectations reflected in our
forward-looking statements can be affected by inaccurate assumptions we might
make or by known or unknown uncertainties and factors, including those described
above. The risks and uncertainties described above are not exclusive, and
further information concerning us and our business, including factors that
potentially could materially affect our financial results or condition or
relationships with customers and potential customers, may emerge from time to
time. We assume no, and we specifically disclaim any, obligation to update,
amend, or clarify forward-looking statements to reflect actual results or
changes in factors or assumptions affecting such forward-looking statements. We
advise you, however, to consult any further disclosures we make on related
subjects in our periodic reports that we file with or furnish to the U.S.
Securities and Exchange Commission.

Accretive Health, Inc.
Investor Relations:
Atif Rahim
Telephone: 312.324.5476
email: investorrelations@accretivehealth.com
or
Media:
Peter Cunningham
Telephone: 312.636.8619
email: mediarelations@accretivehealth.com

Copyright Business Wire 2013

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