Navigation Links
IHHI Settles Litigation With OC-PIN
Date:4/2/2009

SANTA ANA, Calif., April 2 /PRNewswire-FirstCall/ -- Integrated Healthcare Holdings, Inc. announced today that it has agreed to settle a number of pending lawsuits with Orange County Physicians Investment Network, LLC, which is owned primarily by local physicians and is one of IHHI's largest shareholders, and certain related parties of OC-PIN.

The litigation grew out of a lawsuit filed by IHHI in May, 2007 against two of its former directors and one current director alleging various breaches of fiduciary duties owed to the company. The dispute escalated over the past two years when the directors cross-complained against IHHI and OC-PIN filed a number of lawsuits seeking to oust the company's former Chief Executive Officer and to assert various shareholder rights. None of the parties admitted any wrongdoing in connection with the settlement.

Maurice J. DeWald, IHHI's Chairman of the Board, said "I could not be more pleased that IHHI is turning the page on this unfortunate chapter in our company's short history. The Board of Directors, management, and our dedicated employees are now looking forward to concentrating all of our efforts on providing quality health care to our patients."

IHHI's recently appointed President and Chief Executive Officer, Kenneth K. Westbrook, was also happy and relieved that the parties were able to settle their differences out of court. "When I started here just over three months ago, I quickly realized that settling this litigation was key to unlocking the vast potential of our four hospitals that are so critical to the delivery of health care in Orange County," Westbrook said. "It is a new day for IHHI. I am ecstatic that all parties have found a way to put this behind them and focus on working together to provide the best possible service to our patients and the community."

About Integrated Healthcare Holdings, Inc.

Integrated Healthcare Holdings, Inc. owns and operates the following four acute care hospitals in Orange County, California: Western Medical Center in Santa Ana; Western Medical Center in Anaheim; Coastal Communities Hospital in Santa Ana; and Chapman Medical Center in Orange. For more information about IHHI, please refer to our website at www.ihhioc.com.

Safe Harbor for Forward-Looking Statements

Some of the statements in this release may constitute forward-looking statements. Such statements are based on our current expectations and could be affected by numerous factors and are subject to various risks and uncertainties discussed in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended March 31, 2008, our quarterly reports on Form 10-Q and our periodic reports on Form 8-K. Do not rely on any forward-looking statement, as we cannot predict or control many of the factors that ultimately may affect our ability to achieve the results estimated. We undertake no obligation to update any forward-looking statement, whether as a result of changes in underlying factors, new information, future events, or otherwise.


'/>"/>
SOURCE Integrated Healthcare Holdings, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Mylan Settles Its First-to-File Opportunity on Levetiracetam with UCB
2. Sunrise Settles Litigation Regarding Its 2007 Annual Meeting
3. Dr. William McGuire Settles with the SEC and the UnitedHealth Group Special Litigation Committee on Stock Options Matter
4. Novo Nordisk Settles With Pfizer On Patent Infringement Suit
5. Park Dental Doctor Group Settles Litigation With Service Provider
6. Dey, L.P. Settles State of Alabama Pricing Litigation
7. Breckenridge Pharmaceutical Settles Paragraph IV Litigation and Receives FDA Approval for its Oxcarbazepine ANDA
8. Walgreens Pays $35 Million, Settles Pharmacist-Whistleblower Qui Tam Drug Switching Allegations
9. US FDA Admits Risks of Mercury Dental Fillings, Settles Lawsuit
10. Bush Administration Settles Nationwide Class Action in Medicare Prescription Drug Case
11. Amerigroup Settles Federal and State Medicaid Fraud Claims for $225 Million
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... On Friday, June 10, Van Mitchell, Secretary of the Maryland Department of Health and ... their exemplary accomplishments in worksite health promotion. , The Wellness at Work Awards took ... the BWI Marriott in Linthicum Heights. iHire was one of 42 businesses to receive ...
(Date:6/24/2016)... ... 2016 , ... June 19, 2016 is World Sickle Cell Observance Day. In ... benefits of holistic treatments, Serenity Recovery Center of Marne, Michigan, has issued ... Sickle Cell Disease (SCD) is a disorder of the red blood cells, which can ...
(Date:6/24/2016)... ... June 24, 2016 , ... ... for accelerated orthodontic treatment. Dr. Cheng has extensive experience with all areas of ... AcceleDent, and accelerated osteogenic orthodontics. , Micro-osteoperforation is a revolutionary adjunct to ...
(Date:6/24/2016)... ... June 24, 2016 , ... EB Medicine presented its first-ever ... Medicine conference in Ponte Vedra Beach, FL. The awards honor the outstanding work ... Practice and Pediatric Emergency Medicine Practice. , “With this award, we recognize ...
(Date:6/24/2016)... ... June 24, 2016 , ... National recruitment firm Slone ... executive with extensive sequencing and genomics experience, as Vice President of North American Capital ... will be responsible for leading the sales team in the commercialization of the HTG ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... June 26, 2016 Story ... operating models within the health care industry is causing ... efficiency , Deloitte offers a suite of solutions ... issues impacting efficient cost optimization: labor resource analysis, revenue ... services facilitate better outcomes and better economics ...
(Date:6/24/2016)... June 24, 2016 ... announced the addition of the " Global Markets ... This report focuses ... an updated review, including its applications in various applications. ... market, which includes three main industries: pharmaceutical and biotechnology, ...
(Date:6/24/2016)... Research and Markets has announced the addition of the ... to their offering. ... World Market for Companion Diagnostics covers the world market for ... report includes the following: , World IVD ... (N. America, EU, ROW), 2015-2020 , World IVD Companion ...
Breaking Medicine Technology: