Advanced Health Announces Plan to Buy Back Up to 3.5 Million Shares of Its Common Stock.TARRYTOWN, N.Y.--(BUSINESS WIRE)--Sept. 1, 1998--Advanced Health (Nasdaq: ADVH) Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Jon Edelson, MD, announced today that the Board of Directors approved a plan to repurchase up to 3.5 million shares, or 35% approximately, of the Company's outstanding common stock. The plan provides that the shares may be repurchased at the discretion of the Company's senior management over a period of up to six months. In making the announcement, Dr. Edelson stated, "We wholeheartedly whole·heart·ed adj. Marked by unconditional commitment, unstinting devotion, or unreserved enthusiasm: wholehearted approval. whole believe that Advanced Health's stock is undervalued Undervalued A stock or other security that is trading below its true value. Notes: The difficulty is knowing what the "true" value actually is. Analysts will usually recommend an undervalued stock with a strong buy rating. at current price ranges. We believe our stock price does not reflect: -- Our Company's strategic positioning as an outsourcing services and information technology provider to a compelling market opportunity of large physician groups, hospitals and other health care entities; and -- Our Company's strong cash position and diminimous level of debt. "As we have indicated," Dr. Edelson continued, "we intend to judiciously use our capital to both support organic growth and make acquisitions, when appropriate. In the Board's and my judgment, given our stock's present trading price Trading price The price at which a security is currently selling. , there is no more appropriate investment at this time than an investment in our own business." Advanced Health is a leading health care services company that vertically integrates outsourcing services with clinical information systems. Through its Advanced Health Management subsidiary, the Company provides outsourcing services to independent and hospital-affiliated physician practices and networks. Through its Advanced Health Technologies subsidiary, the Company provides clinical information solutions to health care organizations. These information systems provide physicians and integrated delivery systems integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health with patient-specific clinical and health plan information at the point of care to improve the quality and reduce the costs of health care. This press release contains forward-looking information. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties, including failure to meet operating objectives or to execute the Company's operating plan. Additional risks and uncertainties are described in the Company's public filings with the Securities and Exchange Commission.
CONTACT: Advanced Health, Tarrytown
Arthur Dague
(914) 524-4783
e-mail: adague@advhealth.com
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