Med Diversified, Inc. Officers Completing Open-Market Stock Purchases.
ANDOVER, Mass.--(BW HealthWire)--Feb. 26, 2002
Frank Magliochetti, CEO of Med Diversified, Inc. (AMEX: MED - news), Edwin Reilly, the Company's Secretary, George Kuselias, the Company's CFO and Michael Rusnak, the Company's COO announced today that they are completing the purchase of an aggregate of 1,200,000 shares of the Company's common stock through open-market transactions.
Frank Magliochetti stated, "We are confident in the long-term value of Med Diversified. We believe the stock purchases made at current market prices represent an excellent investment opportunity."
Mike Rusnak, former CEO of Option Care (Nasdaq: OPTN - news), added, "In comparing Med Diversified's current market value to other specialty pharmacy/home health providers, we believe that the Company is positioning itself to become a leader in the alternate site market place. Our management team is committed to achieving this goal and securing our place in the future of home health services."
About Med Diversified
Med Diversified operates companies in various segments within the health care industry including pharmacy, home infusion, multi-media, management, clinical respiratory services, home medical equipment, home health services and other functions. For more information, see http://www.meddiversified.com.
Safe Harbor for Forward-Looking Statements
Statements in this news release that relate to management's expectations, intentions or beliefs concerning future plans, expectations, events and performance are "forward looking" within the meaning of the federal securities laws. These forward-looking statements include assumptions, beliefs and opinions relating to the Company's business and growth strategy, management's interpretation and analysis of its own contractual and legal rights, management's ability to satisfy industry and consumer needs with its technologies, health-care industry trends, and management's ability to successfully develop, implement, market and/or sell its network transaction processing services, software programs, clinical and financial transaction services, and e-commerce systems to its clientele. Management's forward-looking statements further assume that the company will be able to successfully develop and execute on its strategic relationships. Many known and unknown risks, uncertainties and other factors, including general economic conditions and risk factors detailed from time to time in news releases and the company's filings with the Securities and Exchange Commission, may cause these forward-looking statements to be incorrect in whole or in part. The investor should review such public filings to get a comprehensive picture and analysis of all conditions and circumstances. The company expressly disclaims any intent or obligation to update any forward-looking statements. Actual results or events could differ materially from those anticipated in the forward-looking statements due to a variety of factors set out above, including, without limitation, integration of business and management associated with the company's business relationships and acquisitions, acceptance by customers of the company's products, changing technology, competition in the health-care market, government regulation of health care, the company's limited operating history, general economic conditions, availability of capital and other factors.
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|Date:||Feb 26, 2002|
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