Tuesday September 1, 8:38 am Eastern Time
Company Press Release
Advanced Health Announces Plan to
Buy Back Up to 3.5 Million Shares of
Its Common Stock
TARRYTOWN, N.Y.--(BUSINESS WIRE)--Sept. 1, 1998--Advanced Health (Nasdaq: ADVH
- news) Chairman and CEO Jon Edelson, MD, announced today that the Board of Directors
approved a plan to repurchase up to 3.5 million shares, or 35% approximately, of the Company's
outstanding common stock. The plan provides that the shares may be repurchased at the discretion
of the Company's senior management over a period of up to six months. In making the
announcement, Dr. Edelson stated, ''We wholeheartedly believe that Advanced Health's stock is
undervalued at current price ranges. We believe our stock price does not reflect:
-- Our Company's strategic positioning as an outsourcing services and
information technology provider to a compelling market opportunity
of large physician groups, hospitals and other health care
entities; and
-- Our Company's strong cash position and diminimous level of debt.
''As we have indicated,'' Dr. Edelson continued, ''we intend to judiciously use our capital to both
support organic growth and make acquisitions, when appropriate. In the Board's and my judgment,
given our stock's present trading price, there is no more appropriate investment at this time than an
investment in our own business.''
Advanced Health is a leading health care services company that vertically integrates outsourcing
services with clinical information systems. Through its Advanced Health Management subsidiary, the
Company provides outsourcing services to independent and hospital-affiliated physician practices
and networks. Through its Advanced Health Technologies subsidiary, the Company provides clinical
information solutions to health care organizations. These information systems provide physicians and
integrated delivery systems with patient-specific clinical and health plan information at the point of
care to improve the quality and reduce the costs of health care.
This press release contains forward-looking information. The forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be significantly impacted by certain risks and uncertainties,
including failure to meet operating objectives or to execute the Company's operating plan. Additional
risks and uncertainties are described in the Company's public filings with the Securities and Exchange
Commission.
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