Navigation Links
Gentiva(R) Health Services Receives Nasdaq Notification Regarding Independent Director Requirement
Date:5/18/2009

ATLANTA, May 18 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of comprehensive home health services, reported today that on May 14, 2009 it received official notification from Nasdaq that it is no longer in compliance with the exchange's independent director requirements as set forth in Listing Rule 5605.

Under Nasdaq Listing Rule 5605(b)(1), Gentiva has a cure period in order to regain compliance as follows:

  • until the earlier of the Company's next annual shareholders' meeting or May 14, 2010; or
  • if the next annual shareholders' meeting is held before November 10, 2009, then the Company must evidence compliance no later than November 10, 2009.

In its March 27, 2009 Form 8-K, Gentiva reported that five independent members of the Company's Board of Directors did not stand for re-election at the Company's annual meeting of shareholders held on May 14, 2009. Gentiva's Board currently consists of six members, of which three directors are independent as defined by Nasdaq listing standards. Consequently, a majority of the Board will not be independent until Gentiva adds another independent director. Gentiva notified Nasdaq of its non-compliance by letter immediately following its annual meeting.

As stated in its annual Proxy Statement filed with the SEC on April 17, 2009, Gentiva anticipates that it will expand the size of the Board of Directors to nine members and is seeking additional qualified candidates who are independent and who would be added to the Board by a vote of directors, in accordance with authority provided to the Board in the Company's by-laws. Gentiva intends to meet the requirement of having a majority of independent directors as soon as practicable, and in any event prior to the expiration of the cure period permitted under Nasdaq listing standards.

About Gentiva Health Services, Inc.

Gentiva Health Services, Inc. is a leading provider of comprehensive home health services, delivering innovative, high quality care to patients across the United States. Gentiva is a single source for skilled nursing; physical, occupational, speech and neurorehabilitation services; hospice services; social work; nutrition; disease management education; help with daily living activities; respiratory therapy and home medical equipment; infusion therapy services; and other therapies and services. For more information, visit Gentiva's web site, http://www.gentiva.com, and its investor relations section at http://investors.gentiva.com. GTIV-G

Forward-Looking Statement

Certain statements contained in this news release, including, without limitation, statements containing the words "believes," "anticipates," "intends," "expects," "assumes," "trends" and similar expressions, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon the Company's current plans, expectations and projections about future events. However, such statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These factors include, among others, the following: economic and business conditions, including the ability to access capital markets; demographic changes; changes in, or failure to comply with, existing governmental regulations; legislative proposals for healthcare reform; changes in Medicare and Medicaid reimbursement levels; effects of competition in the markets in which the Company operates; liability and other claims asserted against the Company; ability to attract and retain qualified personnel; availability and terms of capital; loss of significant contracts or reduction in revenues associated with major payer sources; ability of customers to pay for services; business disruption due to natural disasters or terrorist acts; ability to successfully integrate the operations of acquisitions the Company may make and achieve expected synergies and operational efficiencies within expected time-frames; effect on liquidity of the Company's debt service requirements; and changes in estimates and judgments associated with critical accounting policies and estimates. For a detailed discussion of certain of these and other factors that could cause actual results to differ from those contained in this news release, please refer to the Company's various filings with the Securities and Exchange Commission (SEC), including the "Risk Factors" section contained in the Company's annual report on Form 10-K for the year ended December 28, 2008.

    Financial and Investor Contact:
          John R. Potapchuk
          631-501-7035
          john.potapchuk@gentiva.com
    or    Brandon Ballew
          770-221-6700
          brandon.ballew@gentiva.com

    Media Contact:
          Jennifer Gery-Egan
          Brainerd Communicators
          212-986-6667
          gery@braincomm.com


'/>"/>
SOURCE Gentiva Health Services, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Gentiva(R) Health Services to Present at Deutsche Bank 34th Annual Health Care Conference
2. Gentiva(R) Health Services Schedules First Quarter Earnings Call and Web Cast for Thursday, April 30, 2009
3. Gentiva(R) Health Services to Present at Upcoming Investor Conferences
4. Gentiva(R) Health Services Sells Selected Pediatric Home Health Care Branches
5. Gentiva(R) Health Services Schedules Fourth Quarter and Fiscal 2008 Earnings Call and Web Cast for Wednesday, February 18, 2009
6. Gentiva(R) Health Services to Present January 13 at J.P. Morgan Healthcare Conference in San Francisco
7. Gentiva(R) Health Services to Present at November Investment Conferences Hosted by Oppenheimer, Credit Suisse and Stephens
8. Gentiva(R) Health Services Schedules Second Quarter Earnings Call and Web Cast for Thursday, July 31, 2008
9. Gentiva(R) Health Services to Present June 24 at Jefferies 2nd Annual Healthcare Conference in New York
10. Gentiva(R) Health Services Acquires Leading Colorado Home Health Provider
11. Gentiva(R) Health Services to Present May 21 at 2008 Citi Investment Research Global Health Care Conference in New York
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/31/2016)... ... , ... Spectrum Aquatics has launched a brand new ADA pool lift, the ... the user in mind. , “Over the last two years our key customers and ... lbs lift is a necessary requirement for certain facilities with specific needs,” said Nabil ...
(Date:5/31/2016)... Clearwater, FL (PRWEB) , ... May 31, 2016 , ... ... for its innovative herbal energy pouches, on World No Tobacco Day . ... in select retail locations later on this summer. , The new flavor is ...
(Date:5/31/2016)... IL (PRWEB) , ... May 31, 2016 , ... ... multichannel marketing services firm and statement solutions provider, for the tenth ... in the May 2016 issue of Advertising Age, and SourceLink ranked eighteenth in ...
(Date:5/30/2016)... ... 30, 2016 , ... As the CDC relaxes its stance on traditional No-Nit ... keep their households lice free. , According to a May 26 article from ... kids in the classroom despite the fact that they may be harboring an infestation. ...
(Date:5/30/2016)... ... May 30, 2016 , ... Another ER facility operated by First Choice ... Legacy Drive, Plano, TX and is open 24 hours daily. , First Choice Emergency ... medical open house. The Jasper High School band entertained attendees and accepted First Choice ...
Breaking Medicine News(10 mins):
(Date:5/30/2016)... Eye expert s ... eye examination before leaving hospital ... Moorfields Eye Hospital Dubai, the first overseas branch of the ... identified premature babies as a special concern in the region when ... retinopathy of prematurity (ROP). ROP is a potentially blinding condition that ...
(Date:5/27/2016)... , May 27, 2016 ... innovative biopharmaceutical company focused on late-stage drug development, ... Dexcel Pharma of pivotal batches required for ... Drug Administration (FDA). This follows Kitov,s announcement ... III trial successfully met its primary efficacy endpoint. ...
(Date:5/26/2016)... , May 26, 2016 ... Associated With Both Cost Savings and Overall ... plc (LSE: BTG), an international specialist healthcare company, ... at the 21st Annual Meeting of ISPOR (International ... treatment of hepatocellular carcinoma (HCC) using yttrium-90 glass ...
Breaking Medicine Technology: