IGHS news. Pretty much means that shorts will be forced to cover. If the rumored 2.5 million short position is true, then the next few weeks will get very interesting.
Integrated Healthcare Systems, Inc. to Merge and
Exchange Shares with H-Quotient, Inc.
RESTON, Va.--(BW HealthWire)--May 14, 1999--Integrated Healthcare Systems, Inc. (OTC Bulletin Board: IGHS -
news), announced today that the Board of Directors at a meeting on May 12, 1999 approved a plan of reorganization whereby
the Company will merge its operations into a wholly owned subsidiary being incorporated in the State of Virginia with the name
of H-Quotient, Inc. After the merger, the Company's healthcare information business will continue to operate and expand under
H-Quotient, Inc. All the outstanding shares of Integrated Healthcare Systems, Inc. will be exchanged for new shares of
H-Quotient, Inc. common stock having the same par value of $.0001.
At the completion of the merger, H-Quotient, Inc. will have the same number of shares and warrants outstanding as does
Integrated Healthcare Systems, Inc. The exchange period will terminate on June 14, 1999 at 5:00 p.m. EST. at which time
Integrated Healthcare Systems, Inc. will cease to trade under the symbol of IGHS. H-Quotient, Inc. will commence trading
when 90% of the outstanding shares of Integrated Healthcare Systems, Inc. have been exchanged, subject to the rules and
regulations of the applicable stock exchange.
A conference call has been scheduled for Tuesday May 18, 1999 at 4:30 p.m. to discuss the reorganization. To participate on
the conference call dial 1-800-260-0702 -ask for the Integrated Healthcare call.
Integrated Healthcare Systems, Inc. designs, develops, markets and maintains connectivity systems and integrated quality
improvement and risk management systems for the healthcare industry. Integrated's I-Link connectivity systems are helping
hospitals nationwide link themselves, via the Internet, to central data warehouses in order to collect and share accurate, timely
and meaningful healthcare data. Hospitals then can develop effective healthcare process improvement strategies through the use
of Integrated's Dataqual® System, featuring Quality Improvement, Risk Management, Staff Credentialing Utilization
Management and Infection Control systems. For more information visit the Integrated web site at
www.integratedhealthcare.com. Integrated Healthcare Systems, Inc. is a publicly owned company traded on the OTC Bulletin
Board under the symbol IGHS.
This announcement may contain, in addition to historical information, certain forward-looking statements that involve risks and
uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could
differ materially from the assumptions currently anticipated.
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