HOUSTON, Dec. 4, 2001 (PRIMEZONE) -- SurgiCare announced today that Taglich Brothers reiterated its Speculative Buy on SurgiCare (AMEX:SRG), a Houston-based Ambulatory Surgical Center (ASC) provider today and increased its 12-month price target to $8.40.
According to the Taglich Brothers report, SurgiCare has demonstrated that it is well positioned to continue expanding over the next few years while growing both revenues and earnings. The Company's recent partnership agreement with Cirrus Health Services has already given rise to the Company's fourth center, Bayside SurgiCare Ambulatory Surgery Center, in Houston. SurgiCare and Cirrus have also begun construction on the Park Cities SurgiCare Ambulatory Surgery Center in Dallas, scheduled to be completed in the summer of 2002. In addition, the two company's plan to co-develop and manage a specialty hospital focused on specific surgical procedures and associated support services, located in North Houston.
Further information on the report is available by contacting Vincent Palmieri or Francisco Clough of Taglich Brothers, Inc., at (800) 456-1220.
About Taglich Brothers, Inc.
Taglich Brothers, Inc. is full-service broker dealer focused exclusively on microcap companies. The Company defines the microcap segment of the equity market as companies with less than $250 million in market capitalization. Taglich Brothers, Inc. currently offers institutional brokerage services, investment banking and comprehensive research coverage to the investment community.
Additional information is available upon request on Taglich Brothers' corporate Website at http://www.taglichbrothers.com.
About SurgiCare, Inc.
SurgiCare, Inc. offers licensed, free-standing Ambulatory Surgery Centers, and specialty hospitals for use by physicians and its physician partners and their patients. Free-standing refers to the fact that the facilities are physically and organizationally independent from a hospital. Ambulatory Surgery means surgical procedures, which do not require overnight hospitalization after the surgery. The ASC's 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 Website 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 expression. 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. The Company pays Taglich Brothers a monthly fee under a consulting agreement for banking services.