INDIANAPOLIS, Nov. 16 /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") (OTC Bulletin Board: SMAN), an Indianapolis-based company, provides through Universal Healthcare Company, LLC ("Universal" or "UHCC") pharmaceuticals to the long-term care and infusion therapy sector of the healthcare industry, today announced the signing of a definitive stock purchase agreement to sell its specialty pharmacy, Precision Healthcare of Nashville, Tennessee, and a parcel of undeveloped real estate to the Schmidt Family Trust of Henderson, Nevada.
Chairman, President and Chief Executive Officer, Ronald D. Hunter, stated "The transaction allows Standard Management to further enhance its balance sheet by eliminating approximately $3 million in debt and liabilities."
Mr. Hunter continued, "The Company through UHCC is focusing on larger institutional pharmacies that are more of a pure play in the long term care market with skilled nursing facilities and assisted living facilities."
This press release contains "forward-looking statements" within the
meaning of section 27 A of the Securities Act of 1933. The use of the words
"believe," "expect," "anticipate," "intend," "may," "estimate," "could,"
"plans," and other similar expressions, or the negations thereof, generally
identify forward-looking statements. Forward-looking statements in this
press release include, without limitation, the ability of the Company to
address the factors sighted by our independent auditors as a basis for
their qualified audit opinion, the performance and growth of our business,
potential future acquisitions, and their impact on the Company's
performance. These forward- looking statements are subject to known and
unknown risks, uncertainties and other factors, which could cause actu
|SOURCE Standard Management Corporation|
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