More than 96 percent of the shareholders of Maryland-based prison health care provider Conmed have tendered their shares to Correct Care Solutions, paving the way for the local company to complete its acquisition later this week. The $59 million transaction will create a company that provides care to 100,000 inmates in 25 states.
Conmed Healthcare Management, the Maryland-based prison health services provider being acquired by Correct Care Solutions, says it earned $360,000 in the second quarter, reversing a year-ago loss of about $140,000. Revenues at the company rose 18 percent to almost $20 million, a new quarterly record. The increase was due to both new contracts and the expansion of services at existing client sites.