HOUSTON, July 9, 2001 (PRIMEZONE) -- SurgiCare, Inc. (OTCBB:SXCR), a Houston-based Ambulatory Surgical Center (ASC) provider, announced today that it's common stock will begin trading on the American Stock Exchange this week under the symbol (AMEX:SRG).
"We received formal notification from the AMEX last Thursday that our application for listing had been approved. On Friday we were informed by the exchange that we could begin trading on the AMEX as early as this Wednesday, July 11," says Charles Cohen, Chief Operating Officer SurgiCare, Inc. "The AMEX is a first-class operation, everyone we have met and worked with throughout our listing process has treated us with the utmost respect and has performed with the highest degree of professionalism, we are thrilled to be associated with such an excellent organization."
"This is an extraordinary milestone for SurgiCare and a real testament to our superior business model," says Dr. David Blumfield, CEO of SurgiCare Inc. "Gaining approval for listing on AMEX should help us gain a significant amount of newfound exposure throughout the investment community, especially with larger individual investors, brokers, mutual funds and institutions. Now large investors and institutions should begin realizing that we have dramatically increased our revenues and profits every quarter and should be considered a real high growth company."
"SurgiCare has been a profitable company since its first center, Bellaire SurgiCare, opened in 1995," said Cohen. "As a profitable company that historically has posted consistent growth quarter after quarter, year after year, we feel that we are in good company here on the AMEX."
About AMEX
As the nation's second largest floor-based exchange, the American Stock Exchange has a significant presence in common stocks, index shares and equity derivative securities. On the AMEX, trading is conducted through an advanced centralized Specialist system combining the speed of computer-delivered orders with the liquidity of customer driven markets. Today, AMEX is on the leading edge of exchanges worldwide in developing successful new investment products and innovative services for companies and investors. AMEX members represent a comprehensive cross-section of the nation's leading brokerage houses, including 807 regular members who transact business in equities and options, and 57 options principal members who execute transactions in options only.
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 that do not require overnight hospitalization after the surgery. The ASCs are run under the guidance of a committee of physician partners. SurgiCare's 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. For more information on SurgiCare, please visit the company's web site at www.surgicareinc.com.
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 expressions. 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. 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.