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| ARAMARK Expands 20-Year Partnership with The Mount Sinai Hospital
PHILADELPHIA--(BUSINESS WIRE)--Sept. 4, 2003--ARAMARK (NYSE:RMK), a world leader in managed services, today announced that it is expanding its long-term relationship with The Mount Sinai Hospital in New York, one of the country's leading teaching hospitals, with new contracts for food and facility services. The value of the contracts is estimated at $15 million in annual sales with an initial term of five years. The new agreements expand ARAMARK's partnership with The Mount Sinai Hospital, which started in 1982 when ARAMARK began providing housekeeping services to the hospital. Under the new contracts, ARAMARK will now provide patient food and nutrition services, retail food services, housekeeping services and patient transportation for the 1,171-bed Mount Sinai campus. In addition, ARAMARK will now operate an off-site laundry facility and provide laundry and linen distribution to Mount Sinai, as well as other hospitals in the metropolitan New York area. Serious business, investment and technology intelligence for a serious advantage - BizVantage! "We are pleased to expand our long-standing partnership with one of the world's leading hospitals," said Joseph Neubauer, chairman and CEO of ARAMARK. "By providing a broader range of food, facility and specialized support service solutions, we can help enhance the patient environment and enable Mount Sinai to focus on its mission to be an innovative leader in education, research and patient care." ARAMARK will implement several new programs designed to enhance patient satisfaction, including a new "Customer Call Center," intended to improve the patient experience and enhance the hospital's response to customers' support service needs. ARAMARK will also introduce its "World Class Patient Service"(R) program, an innovative food and nutrition program designed to increase patient satisfaction. The proprietary program leverages ARAMARK's extensive consumer and retail food service experience and applies it to the unique needs of hospital patients. Based on extensive focus groups comprised of discharged patients, the program will introduce new menu items based on 300 recipes - including a range of "comfort foods" and options that best fit the patients' regional, ethnic and cultural preferences. Founded in 1852, The Mount Sinai Hospital is one of the country's oldest, largest and most-respected tertiary-care teaching hospitals, with a medical staff of nearly 1,800 physicians providing the most advanced and compassionate inpatient and outpatient clinical care. ARAMARK provides innovative, non-clinical support services to more than 1,200 hospitals, long-term care facilities and regional healthcare systems in North America. ARAMARK offers healthcare organizations a complete range of managed service solutions, including patient food and nutrition services, retail food services, clinical equipment management, housekeeping services, laundry and linen distribution, facility operations management, energy management, supply chain management and patient transportation. About ARAMARK ARAMARK is a world leader in providing managed services --including food, facility and other support services and uniform and career apparel. ARAMARK has leadership positions serving the business, education, healthcare, government and sports and recreation sectors. In FORTUNE Magazine's 2003 survey of the "Most Admired Companies in America," ARAMARK ranks No. 1 in the outsourcing services category and is No. 10 among all companies included in the survey by overall score as evaluated by peers within the industry. Headquartered in Philadelphia, ARAMARK has approximately 200,000 employees serving clients in 18 countries. Forward-Looking Statements The Private Securities Litigation Reform Act of 1995 provides a safe harbor from civil litigation for forward-looking statements that reflect our current views as to future events and financial performance with respect to our operations. These statements can be identified by the fact that they do not relate strictly to historical or current facts. They use words such as "aim," "anticipate," "estimate," "expect," "will be," "will continue," "will likely result," "project," "intend," "plan," "believe" and other words and terms of similar meaning in conjunction with a discussion of future operating or financial performance. Forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and other factors (many of which are beyond our control) that could cause actual results to differ materially from the future results expressed or implied by such forward-looking statements. The forward-looking statements regarding such matters are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances. Factors that might cause such a difference include: unfavorable economic conditions, including ramifications of any future terrorist attacks; increased operating costs; shortages of qualified personnel; currency risks and other risks associated with international markets; risks associated with acquisitions, including acquisition integration costs; our ability to integrate and derive the expected benefits from our recent acquisitions, including our acquisition of ServiceMaster Management Services; competition; decline in attendance at client facilities; unpredictability of sales and expenses due to contract terms and terminations; high leverage; claims relating to the provision of food services; costs of compliance with governmental regulations; liability associated with non-compliance with governmental regulations, including regulations pertaining to food services and the environment; and seasonality. For further information regarding risks and uncertainties associated with ARAMARK's business, please refer to the "Management's Discussion and Analysis of Results of Operations and Financial Condition" and "Risk Factors" sections of ARAMARK's SEC filings, including, but not limited to, our annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting ARAMARK's investor relations department at www.aramark.com. Forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included herein or that may be made elsewhere from time to time by, or on behalf of, us.
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