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State Of Victoria Workcover Authority Awards Cambridge Integrated Services A Four-Year Contract To Administer Workers Compensation Claims
Melbourne, Victoria – December 22, 2005: Cambridge Integrated Services Victoria Pty Limited (Cambridge Australia) (*) today announced that the State of Victoria WorkCover Authority has renewed its agreement for four years to process workers compensation claims, effective until June 30, 2010. The contract’s estimated value is $88 million (AUD), and gives Cambridge 15% percent market share of the Victoria WorkCover’s workers compensation portfolio. Originally appointed and selected in 2002, Cambridge Victoria’s primary focus since July 2002 has been to ensure a successful delivery and implementation of a workers compensation and claims management system to the Victoria WorkCover Authority. In just over three years Cambridge has achieved significant reductions in their key continuance rate measures and projected claim costs while managing approximately 30,000 policies for the Victoria WorkCover Authority. “This four year contract with the Victoria WorkCover Authority continues to demonstrate the success of our strategy of being able to service and deliver complex high end knowledge based outsourcing engagements,” stated Chris Sinclair, Executive Chairman and CEO, Scandent Solutions. Paul Serong, CEO of Cambridge Integrated Services Australia stated, “We appreciate this significant opportunity to replicate our past success, continue providing the highest level of support to the Victoria WorkCover Authority and to produce better outcomes for Victorian employers and injured workers.” To accommodate this major growth and expansion, Cambridge recently announced the dedication of a new facility in Melbourne, Australia. The state-of-the-art facility spread across 3,000 square meters will support 200 employees. In addition to this Victoria WorkCover Authority contract, Cambridge was recently awarded a three-year contract valued at $50.3 million (AUD) by the New South Wales (NSW) WorkCover Authority to process their workers compensation claims. Effective on January 1, 2006, the contract will give Cambridge an eight percent market share of the NSW WorkCover’s workers compensation portfolio. To learn more about Cambridge in Australia visit www.cambridgeaustralia.com. About Cambridge Cambridge’s BPO division has deep expertise in process consulting; transaction processing including mortgage application and renewal; medical billing; finance and accounting back office support; insurance claims administration and processing; inbound and outbound contact centers to support all of these activities; and other transaction processes that require knowledge-based decision making. Cambridge’s IT division offers business consulting, application implementation, software engineering, maintenance and support services. Cambridge has over 3500 employees across key global markets, including the U.S., UK, India, Germany, France, Singapore, Japan, Malaysia and Australia. For more info on Cambridge, visit www.cambridgesolutionsltd.com. About Scandent Solutions Corporation Ltd On September 6, 2005, the Board of Directors of Scandent Solutions decided to merge the company with Cambridge Services Holdings LLC. The merger is subject to the requisite regulatory and shareholder approvals. The resultant entity will be renamed as Cambridge Solutions Limited. For more info about Scandent, visit www.scandentsolutions.com. (*) On September 6, 2005, the Board of Directors of Scandent Solutions decided to merge the company with Cambridge Services Holdings LLC. Pursuant to this merger Cambridge Australia will become subsidiary of Scandent Solutions with effect from April 1, 2005. The merger process is underway and is subject to the requisite regulatory and shareholder approvals. The new entity will be called Cambridge Solutions Limited. Safe harbor Media Contacts: Cambridge Integrated Services - Australia Cambridge Integrated Services – U.S. Scandent Solutions Corp Ltd. Scandent Solutions Corp. Ltd. |
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