Graham Field Announces the Relocation of Its Corporate Headquarters to Atlanta, Georgia.Business & Health Editors BAY SHORE, N.Y.--(BW HealthWire)--Jan. 15, 2001 Graham Field Health Products, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : GFIHQ) a manufacturer and supplier of healthcare products, announced today that it has filed a motion with the Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. to proceed with a plan to continue the rationalization of its facilities, and begin the process of relocating its corporate headquarters and distribution facility from the 81 Spence Street, Bay Shore facility. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Graham Field Chief Executive Officer, David Hilton, "this move is intended to realize substantial cost savings through a planned push to achieve greater efficiencies throughout the organization, with our goal being improved service for our customers." Graham Field has prepared its facility in Atlanta, GA to absorb the Bay Shore corporate functions for a smooth and orderly transition. The company expects the relocation to Atlanta to be completed by mid- April 2001. Graham Field Health Products, Inc. is currently headquartered in Bay Shore, New York Bay Shore is a hamlet (and census-designated place), located in the town of Islip, County of Suffolk, New York. The population was 23,852 at the 2000 census. Bay Shore has a major railroad station of the Long Island Rail Road, serving both commuters and vacationers as a and manufactures, markets, and distributes durable medical equipment Durable medical equipment is a term of art used to describe certain Medicare benefits, that is, whether Medicare may pay for the item. The item is defined by Title XVIII the Social Security Act: The company has made 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. in this release, including that the relocation will be smooth and orderly for customers, that the transfer of support functions will not create transition difficulties, and that the company will realize substantial cost savings. Actual events or results may differ materially as a result of risks and uncertainties facing the company including customer and transition difficulties, and possible effects on expenses, sales, and operations. The company disclaims any obligation to update any such factors or to announce publicly the result of any revision to any of the forward-looking statements contained in this release, or to make corrections to reflect future events or developments. |
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