Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : SABRATEK CORP (SBTK) -- Ignore unavailable to you. Want to Upgrade?

To: Pluvia who wrote (191)	6/21/1999 2:51:00 PM
From: mod	Read Replies (1) \| Respond to of 487

Pluvia, Hope you and your Milberg Weiss buddies have another $50 million to pay. Defamation cost them $50 million before, this time looks like you'll have to chip in too. Good luck, you are going to need it. mod Sabratek Responds to Accusations PR Newswire - June 21, 1999 14:42 SKOKIE, Ill., June 21 /PRNewswire/ -- Sabratek Corporation (Nasdaq: SBTK) announced today that it has been made aware of certain spurious accusations regarding Sabratek's business conduct, apparently arising from the claims asserted in the amended complaint that was recently filed against the Company and certain officers and directors. In response, Sabratek Corporation's Chairman and CEO, K. Shan Padda said: "We must keep in mind that the amended complaint contains nothing but allegations, which we believe, are wholly without merit. Our audited financial statements were prepared in accordance with generally accepted accounting principles and were audited by an international accounting firm. We stand by those financial statements." Mr. Padda also said that: "In addition, Sabratek intends to pursue the sources of false accusations about the Company's accounting practices and, as appropriate, will commence appropriate legal action and/or seek injunctive relief and other compensatory damages." To that end, Sabratek has retained the New York law firm of Kramer, Levin, Naftalis & Frankel LLP as well as the investigative firm of Kroll Associates, and it has directed those firms to pursue false and defamatory public reports about the company. The Sabratek Division develops, produces and markets technologically advanced, easy-to-use, smart, interactive medical devices that work seamlessly together to allow health care providers to lower health care costs, expand access, and maintain quality across the continuum of care. The ROCAP Division manufactures ready-to-use saline flush syringes that reduce error and waste while saving time and money for enhanced safety, compliance and patient care. GDS develops and manufactures advanced point-of-care blood diagnostics for multiple tests with a single device capable of fast, simple, accurate and economical results anywhere on the continuum of care. MOON Communications is the health care industry's first Internet-based, vertically integrated communications portal, which will enable real-time monitoring and reporting of a patient's clinical information from any site, including the patient's home. HEALTHMAGIC is a developer of innovative healthcare information management tools, which feature intranet/internet technology. These tools enable health care providers to realize significant operational and clinical management efficiencies as well as providing patients and their families the ability to monitor and manage their own health. The CMS subsidiary offers managed care and provider services to health care payors -- including utilization review, provider credentialing and network development -- that enable delivery systems to be managed more efficiency and with higher quality. The LifeWatch division utilizes smart devices to monitor patients transtelephonically in alternate site settings. LifeWatch offers these services to healthcare providers and is the market leader in arrhythmia monitoring. This press release contains forward-looking statements. The actual results might differ materially from those projected in the forward-looking statements. Additional information concerning factors that could cause actual results to materially differ from those in the forward looking statements is contained in the Company's periodic reports filed under the Securities Exchange Act of 1934, as amended (copies of which are available upon request from the Company's Investor Relations Department). SOURCE Sabratek Corporation /CONTACT: John Reilly, Chief Financial Officer of Sabratek Corporation, 847-720-2400, Ellen Paz Citigate Dewe Rogerson, Inc., 212-688-6840, for Sabratek Corporation/ (SBTK)