NEW YORK, April 11, 2006 (PRIMEZONE) -- Aveta Inc., one of the largest companies focusing on Medicare Advantage and a leader in addressing the healthcare needs of the chronically ill, announced today that it has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) relating to the private placement offering of common stock pursuant exemption from the registration requirements of the Securities Act. The sale of 28.8 million common shares was completed on December 29, 2005. Friedman, Billings, Ramsey & Co., Inc. acted as placement agent for the offering. Once declared effective by the SEC, the registration will cover resales by selling stockholders. The company's Form S-1 registration statement is available on the SEC website at www.sec.gov.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Aveta Inc.
Aveta is one of the largest companies focusing on Medicare Advantage and a leader in addressing the unique healthcare needs of the chronically ill. Caring for over 130,000 Medicare beneficiaries, Aveta is the 5th largest for-profit Medicare Advantage enterprise, and operates more Chronic SNPs than any other company. Aveta has a successful track record of managing care for seniors achieved through its core competency of community medical management. Aveta is headquartered in Fort Lee, New Jersey and currently has operating subsidiaries in Southern California, Puerto Rico, and Illinois.