SurgiCare, Inc. Terminates Relationship With Fifth Avenue Communications
HOUSTON, Nov. 17 /PRNewswire/ -- SurgiCare, Inc., (OTC Bulletin Board: SXCR) a Houston-based ambulatory surgical center holding company (ASC), announced today that it has terminated its public relations and investor relations contract with Fifth Avenue Communications Inc. effective immediately.
SurgiCare learned today that Fifth Avenue Communication and its founder, Edward B. Williamson III have are defendants in a civil action instituted by the Securities and Exchange Commission, alleging securities fraud. SurgiCare, which had recently engaged Fifth Avenue Communications for public relations and investor relation's services, decided immediately upon learning of the alleged fraud to cease all dealings, both formal and indirect with the troubled agency.
"We were very surprised to hear of the SEC's allegations against Fifth Avenue Communications, Inc.," says Charles Cohen, COO of SurgiCare Inc. "While this alleged fraud in no way involves SurgiCare, we felt that the immediate termination of the PR contract is in the best interest of SurgiCare and its shareholders."
About SurgiCare, Inc.
SurgiCare, Inc., offers licensed, freestanding Ambulatory Surgery Centers for use by physicians and its physician partners and their patients. Freestanding refers to the fact that the facilities are physically and organizationally independent from a hospital. Ambulatory Surgery means surgical procedures, which do not require overnight hospitalization after the surgery. The ASC's are run under the guidance of a committee of physician partners. The Company goal is to grow through mergers, acquisitions, and turnkey management contracts in conjunction with physician-involved supervision and potential equity participation within a public company model.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expression. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of SurgiCare, Inc., (the Company) to differ materially from those expressed or implied by such forward-looking statements. (Such factors include, among others, the risk factors contained in the Company's Annual Reports and other filings with the Securities and Exchange Commission.) In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. The Company will remain dependent upon future financing for its growth and development, and for it to successfully implement its business plan. No statement contained herein should be construed as indicating that such financing is or will be available, and if available, will be on terms favorable to the Company. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.
SOURCE SurgiCare, Inc.
CO: SurgiCare, Inc.; Fifth Avenue Communications Inc.
ST: Texas
IN: HEA MTC ADV
SU:
11/17/2000 20:26 EST prnewswire.com |
