Good news from NuMED:
-The consolidation of the Cleveland and Florida offices is complete.
-NuMED officially announced the awarding of the two new managed care contracts.
-The $500,000 Letter of Credit was released, meaning that the money is now available for working capital.
CLEARWATER, Fla. May 12, 1997: NuMED Home Health Care Inc. ("NuMED") (NASDAQ Small Cap:NUMD,NUMDW). Jay Taneja, CEO, announced that the Cleveland financial consolidation to Florida has been completed.
The new Senior Corporate Controller, Wayne Mori is spearheading
the system process reframing.
Wayne Mori, CPA with a Master of Accounting degree has been involved in the health care industry for over 12 years functioning as a CFO for the past five years with a Continuing Care Retirement Community (CCRC)/ALF/LTC facility and internal audit responsibilitiesat a major acute care hospital.
Susan Carmichael stated, "Company-wide computerization, JCAHO survey preparation and awarding of two more managed care contracts are having a positive impact on all NuMED Home Health Care Inc. firms in Pennsylvania, Ohio and Florida." Carmichael also announced the release of the $500,000 Letter of Credit regarding the NuMED Rehabilitation Inc., contract.
NuMED Home Health Care Inc. is headquartered in Clearwater and operates eight wholly owned subsidiaries providing home health care
services and temporary nursing staffing in selected markets in Florida, Ohio and Pennsylvania and contract rehabilitation staffing of physical and occupational therapists and speech/language pathologists in selected markets in Ohio, Pennsylvania, Illinois, Indiana, Kentucky, Maryland and New Jersey.
CONTACT: NuMED Home Health Care Inc., Clearwater
Jugal K. Taneja, Chief Executive Officer
or
Susan J. Carmichael, President, COO
813/524-3227 |
