Wednesday July 29, 7:40 am Eastern Time
Company Press Release
National Healthcare Officers and Board Members Announce Intention to Purchase Stock on Open Market For Their Private Brokerage Accounts
WINNIPEG, Manitoba--(BW HealthWire)--July 29, 1998--National Healthcare Manufacturing Corp. (Nasdaq:NHMCF - news)
Wednesday reported that its President and Chief Executive Officer Mac J. Shahsavar and other officers of the company have announced their
intention to purchase for their private brokerage accounts up to one million shares of National Healthcare Manufacturing on the open market
within the next 12 months.
The Shahsavar family already owns 31.3 percent of National Healthcare prior to any further purchase of shares.
Shahsavar commented, ''As we have moved the focus of our share trading from Canada to the United States, the market has created a
buying opportunity for those of us who believe strongly in the company's future, and believe that the shares are undervalued.
''We are strongly focused on improving both our top and bottom line in fiscal 1999,'' Shahsavar continued. ''We expect to begin to see
results from our long-term approach towards sales and marketing and our strategic investment in vertical integration, which includes our Hub
& Spoke logistics distribution business.''
National Healthcare is committed to reducing healthcare costs by providing efficient and cost effective alternatives to conventional products
and services to healthcare providers through the use of the world's first and only automated robotic production facility capable of assembling
and packaging kits and trays for medical and surgical procedures. Through its wholly-owned subsidiaries, National Healthcare manufactures
and distributes personal care, anti-microbial and cellulose based paper products to healthcare and homecare institutions throughout North
America and Europe. National Healthcare Logistics (a subsidiary) is revolutionizing conventional medical distribution with its state-of-the-art
Hub & Spoke logistics system.
The statements in this release that relate to future plans, events or performance are forward-looking statements that involve risks and
uncertainties, including risks associated with uncertainties pertaining to customer orders, development of markets for the company's products
and services and other risks as identified in the company's SEC filings. Actual results, events and performance may differ materially. The
company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the
date hereof or to reflect the occurrence of unanticipated events.
Contact:
Allen & Caron Inc.
Damon Wright (investors)
Denise Harrison (media)
714/957-8440
or
National Healthcare Manufacturing Corp.
Alex Tsakumis, 800/883-8841 |
