UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported):  April 7, 2020

 

Catasys, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

 

001-31932

 

88-0464853

(State or other jurisdiction
of incorporation)

 

(Commission File Number)

 

(IRS Employer
Identification No.)

 

 

2120 Colorado Ave., Suite 230

Santa Monica, California

 

90404

(Address of principal executive offices)

 

(Zip Code)

     

Registrant’s telephone number, including area code   (310) 444-4300

 

(Former name or former address, if changed since last report.)

 

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.0001 par value

CATS

The NASDAQ Capital Market

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company  ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

Item 8.01.     Other Events.

 

On April 7, 2020, Catasys, Inc. (the “Company”) issued a press release announcing the expansion of its OnTrak solution with a leading national health plan into Indiana, Wisconsin, Kentucky and Arkansas. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 9.01.     Financial Statements and Exhibits.

 

(d)     Exhibits.

 

No.

 Description

99.1

Press Release, dated April 7, 2020.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

CATASYS, INC.

  

 

 

 

Date:  April 7, 2020

 

By:

/s/ Brandon LaVerne

 

 

 

Brandon LaVerne

 

 

 

Chief Financial Officer

 

Exhibit 99.1

 

News Release

 

For Immediate Release

 

Catasys Expands OnTrak-A Solution with Leading National Health Plan into Indiana, Wisconsin, Kentucky and Arkansas

 

Santa Monica, CA – April 7, 2020 – Catasys, Inc. (NASDAQ: CATS) (“Catasys” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized outpatient healthcare treatment company, today announced the expansion of its OnTrak-A solution with a leading national health plan into Indiana, Wisconsin, Kentucky and Arkansas. This expansion ensures that eligible commercial and Medicare Advantage members of the health plan in these four states will have access to critical behavioral healthcare to help them better manage chronic disease. With the expansions into Indiana and Arkansas, OnTrakTM is now available in 30 states, as well as the nation’s capital. Additional OnTrak-A expansions are expected in the remainder of 2020.

 

Mr. Terren Peizer, Chairman and CEO of Catasys, stated, “We look forward to serving the members of this national plan in these additional four states, and treating those who struggle with the burden of managing heightened anxiety in addition to their behavioral conditions and chronic disease. Only a few months into 2020, this particular health plan partner has expanded OnTrakTM into seven additional states and Washington, D.C., validating the ROI of our programs and the positive outcomes we deliver for members. Given today’s environment, we anticipate that expansions will continue to increase our outreach pool of eligible lives, and enrollments should improve as more and more states mandate that citizens ‘shelter in place’ during the COVID-19 pandemic.”

 

Mr. Peizer continued, “In this environment, we believe our value proposition is significantly augmented given our unique ability to serve this member population. Catasys OnTrakTM programs are entirely telephonic, staffed by a nationwide virtual network of employee Member Engagement Specialists, Care Coaches and Community Care Coordinators combined with a credentialed, virtualized telehealth network of behavioral health and medical providers. We are working closely with our health plan partners to address Social Determinants of Health such as food shortages and loneliness, especially in rural America. With hospitals already in a dire state, the work our Care Team is doing today to prevent future hospitalizations is more important than ever.”

 

OnTrak is a critical component of the Catasys PRETM (Predict-Recommend-Engage) platform that predicts people whose chronic disease will improve with behavior change, recommends care pathways that are effective and that people will follow, and engages people who aren’t getting the care they need. OnTrak is an integrated solution that incorporates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaching and in-market Community Care Coordinators who address the social and environmental determinants of health. OnTrak improves member health and delivers validated cost savings of more than 50% for enrolled members.

 

 

 

Catasys, Inc.  Page 2
April 7, 2020  

                                                                                                                                                                            

 

About Catasys, Inc.

Catasys, Inc. is a leading AI and telehealth enabled, virtualized outpatient healthcare treatment company, whose mission is to help improve the health and save the lives of as many people as possible. Its Catasys PRETM (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who aren’t getting the care they need. By combining predictive analytics with human engagement, Catasys delivers improved member health and validated outcomes and savings to healthcare payers.

 

Catasys’ integrated, technology-enabled OnTrak solution, a critical component of the Catasys PRE platform, is designed to treat members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure, which result in high medical costs.

 

Catasys has a unique ability to engage these members, who do not otherwise seek behavioral healthcare, leveraging proprietary enrollment capabilities built on deep insights into the drivers of care avoidance.

 

OnTrak integrates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaching and in-market Community Care Coordinators who address the social and environmental determinants of health, including loneliness. The program improves member health and delivers validated cost savings to healthcare payers of more than 50 percent for enrolled members. OnTrak is available to members of leading national and regional health plans in 30 states and in Washington, D.C.

 

Learn more at www.catasys.com.

 

 

 

Catasys, Inc.  Page 3
April 7, 2020  

      

 

Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from stated expectations. These risk factors include, among others, changes in regulations or issuance of new regulations or interpretations, limited operating history, our inability to execute our business plan, increase our revenue and achieve profitability, lower than anticipated eligible members under our contracts, our inability to recognize revenue, lack of outcomes and statistically significant formal research studies, difficulty enrolling new members and maintaining existing members in our programs, the risk that treatment programs might not be effective, difficulty in developing, exploiting and protecting proprietary technologies, intense competition and substantial regulation in the health care industry, the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern, our ability to raise additional capital when needed and our liquidity. You are urged to consider statements that include the words "may," "will," "would," "could," "should," "believes," "estimates," "projects," "potential," "expects," "plan," "anticipates," "intends," "continues," "forecast," "designed," "goal," or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties we face, please refer to our most recent Securities and Exchange Commission filings which are available on its website at http://www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

  

Contact

Catasys, Inc.
Ariel Davis

Phone: 310-444-4346

Email:   ariel@catasys.com