Key Developments For PRG-Schultz International, Inc.
PRG-Schultz International, Inc. (PRGX.O) (Consolidated Issue listed on NASDAQ Global Market)
PRG-Schultz International, Inc. Forms Strategic Alliance To Expand Profit Recovery Capabilities
PRG-Schultz International, Inc. announced that it has entered into a strategic alliance with KBA Lease Services LLC to expand the recovery audit capabilities PRG-Schultz can offer to clients. The lease audit practice of KBA Lease Services is focused on recovering rent overcharges and reducing short and long-term occupancy costs.
Ryan Forms Strategic Alliance With PRG-Schultz International, Inc. To Create Tax And Recovery Audit Solution
Ryan and PRG-Schultz International, Inc. announced a strategic alliance to provide a comprehensive profit enhancement service that addresses the cost containment concerns and earnings pressure facing companies as a result of the current economic environment. This strategic alliance will aid companies in overcoming the difficult challenges of profit growth in global economy by combining the strength of Ryan's comprehensive suite of state, local, federal, and international tax services with PRG-Schultz's specialization in recovery audit services.
PRG-Schultz International, Inc. Announces Acquisition Of First Audit Partners LLP
PRG-Schultz International, Inc. announced that its UK subsidiary has acquired the business and assets of First Audit Partners LLP, a privately held European provider of recovery audit services based in Cambridge, England. The business and assets of FAP are expected to be fully integrated into PRG-Schultz's European operations. Terms of the transaction were not disclosed.
PRG-Schultz International, Inc. Announces Resignation of Chief Financial Officer
PRG-Schultz International, Inc. announced that Peter Limeri, its Chief Financial Officer and Treasurer, will be resigning from the Company, effective May 31, 2009, to pursue another opportunity. Mr. Limeri will remain with the Company through the end of May to assist in the transition of his duties to his successor. The Board of Directors has determined that Robert B. Lee, the Company's Controller, will succeed Mr. Limeri by appointment to the additional roles of Chief Financial Officer and Treasurer.
PRG-Schultz International, Inc. Announces Subcontracts With Three Medicare Recovery Audit Contractors
PRG-Schultz International, Inc. announced that the Company has withdrawn its Government Accountability Office protest of the Medicare Recovery Audit Contractor (RAC) contract awards by the Centers for Medicare and Medicaid Services (CMS). The Company also announced today that it has entered into subcontracts with three of the four Medicare RAC contract awardees. The subcontracts, with CGI Technologies and Solutions Inc., Diversified Collection Services, Inc., and HealthDataInsights, Inc., provide the Company with the opportunity to participate in CMS`s national Medicare RAC program by auditing certain Medicare Part A and Part B claims in three of the program's four geographic regions. Based on the most current publicly available data from CMS, management believes that the pool of claims that the Company will be auditing under the subcontracts, collectively, represents approximately 10% of the total pool of Medicare claims expected to be audited under the nationwide Medicare RAC program.
