Forterus Inc. Announces Stock Buyback( HUNTINGTON BEACH Calif. Nov. 12 /...),Health
HUNTINGTON BEACH, Calif., Nov. 12 /PRNewswire-FirstCall/ -- Forterus Inc. (OTC Bulletin Board: FTER) today announced that its board of directors has approved buying back up to $20,000 in stock in open market transactions.
"Our senior management has concluded that Forterus' stock is severely undervalued, and does not reflect the financial success of the company, including its exceptionally strong profits from the past two months," said Paul Howarth, CEO of Forterus.
"We therefore believe that a small portion of our working capital should be used to complete this proposed redemption program, since the market has not reflected our financial achievements."
Forterus acquired Murrieta, Calif.-based A Better Tomorrow Treatment Center, Inc. in August, one of the largest and fastest growing drug and alcohol rehabilitation centers in Southern California.
A Better Tomorrow is accredited by the Commission on Accreditation of Rehabilitation Facilities (CARF), placing it in the top 5 percent of drug and alcohol treatment centers in California.
Forterus Inc. and its subsidiaries engage in diverse business activities, including behavioral healthcare, intervention services, drug and alcohol rehabilitation, pain management, physical therapy, finance as well as thoroughbred breeding and racing. For more information about Forterus and A Better Tomorrow, please visit their respective websites at http://www.forterus.com and http://www.abttc.com.
Application of the Safe Harbor of the Private Securities Litigation
Reform Act of 1995: This press release contains, and Forterus may from time
to time make, written or oral 'forward-looking statements' within the
meaning of the U.S. federal securities laws, which are made pursuant to the
safe harbor provisions of the Private Securities Litigation Reform Act of
1995. All forward-looking statements r
'/>"/>
| SOURCE Forterus Inc. Copyright©2008 PR Newswire. All rights reserved |
Related medicine news :
1. Forterus Inc. Inks Agreement to Provide National Sales and Marketing Support for a North Carolina-Based Addiction Treatment Center
2. HHS Announces $75 Million in Supplemental Funding to States for Pandemic Flu Preparedness
3. CRC Health Group Announces Acquisition of Bayside Marin Recovery Center, San Rafael
4. UHW Announces: Antelope Valley Hospital Caregivers and Board Vote to Ratify First Union Contract With SEIU UHW-West
5. HEI, Inc. Announces Sale of RFID Division Assets
6. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Zyloprim(R)
7. Mettler-Toledo International Inc. Announces Webcast of Presentation at Thomas Weisel Partners 2007 Healthcare Conference
8. Z Trim Announces Revocation of Gregory Halpern Severence Agreement
9. Brooke Franchise Corporation Announces Selected July Results
10. Manor Care, Inc. Announces Record Date for Special Stockholder Meeting
11. Caraco Pharmaceutical Laboratories, Ltd. Announces FDA Approval to Market Generic Version of Adipex-P(R)
| Copyright © 2003-2009 Bio-Medicine. All rights reserved. ABOUT | CONTACT US | DISCLAIMER | PRIVACY POLICY | TERMS AND CONDITIONS |  |