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XSI American Caresource Holdings

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Share Name Share Symbol Market Type
American Caresource Holdings AMEX:XSI AMEX Ordinary Share
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.00 -

American CareSource Holdings Appoints Sami S. Abbasi to the Board of Directors

08/09/2008 12:05pm

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American Caresource Holdings (AMEX:XSI)
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American CareSource Holdings, Inc. (AMEX: XSI) today announced the appointment of Sami S. Abbasi to the Company's Board of Directors, increasing the Board to seven members.

Commenting on today's news, David S. Boone, Chief Executive Officer of American CareSource, stated, "We are delighted to welcome Sami to the Company's Board. As American CareSource continues to expand its range of ancillary care services as well as its client base and national footprint, Sami's deep experience, culled from over 20 years in the healthcare services industry, will be invaluable to our efforts. In particular, we look forward to leveraging Sami's proven leadership, managerial and financial expertise, as well as his broad contacts in the industry."

Since January 2007, Mr. Abbasi has served as Chairman and Chief Executive Officer of National Surgical Care, Inc., the owner and operator of a network of 24 surgery centers in partnership with physicians and healthcare systems across the U.S. Prior to that, Mr. Abbasi spent 10 years in various positions at Radiologix, Inc., a publicly held national provider of diagnostic imaging services, where he most recently held the title of President and Chief Executive Officer. Before that, Mr. Abbasi served as Senior Vice President, Chief Financial Officer and Chief Operating Officer of AdminQuest, Inc., a venture-backed start-up that provided web-enabled and full-service outsourcing solutions to the insurance and benefits industry. Prior experience also includes positions as Vice President, Health Care Group at Roberston, Stephens & Company, where he was responsible for investment banking and transaction execution for companies in the healthcare services industry, and numerous positions in banking and finance at Citigroup Inc.

Mr. Abbasi earned his Bachelor of Arts degree from The University of Pennsylvania and his Masters of Business Administration from The University of Rochester. He also serves as Director and Chairman of the Audit Committee for Behringer Harvard Multifamily REIT I, Inc.

About Ancillary Healthcare Services

American CareSource provides ancillary healthcare services through its network that offers cost effective alternatives to physician and hospital-based services. This market is estimated at $574 billion, and has grown to 30% of total national health expenditures. These providers offer services in over 30 categories, including laboratories, dialysis centers, free-standing diagnostic imaging centers, non-hospital surgery centers, as well as durable medical equipment such as orthotics and prosthetics, and others.

About American CareSource Holdings, Inc.

American CareSource Holdings, the first national, publicly traded ancillary care network services company, offers a comprehensive national network of approximately 2,500 ancillary service providers at over 25,000 sites. The Company's ancillary network and management provides a complete outsourced solution for a wide variety of healthcare payors and plan sponsors including self-insured employers, indemnity insurers, PPOs, HMOs, third party administrators and both federal and local governments. For additional information, please visit www.anci-care.com.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995:

Any statements that are not historical facts contained in this release, including with respect to future engagements by clients, revenue growth, earnings, and guidance are forward-looking statements. It is possible that the assumptions made by American CareSource Holdings, Inc. for purposes of such statements may prove to be inaccurate or may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve further risks and uncertainties, including but not limited to those relating to demand for our services, pricing, market acceptance, our ability to integrate with our clients, our ability to attract and maintain providers, our ability to manage growth, the effect of economic conditions, and the affect of competitive services, risks in product development, the ability to complete transactions, and other risks identified in this release, and the Securities and Exchange Commission filings of American CareSource Holdings, Inc.

David S. Boone Chief Executive Officer American CareSource Holdings, Inc. Tel: 972-308-6830

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