United American Healthcare Corporation Announces Stock Repurcha...( DETROIT Dec. 2 /- United American Hea...),Health

DETROIT, Dec. 2 /PRNewswire-FirstCall/ -- United American Healthcare Corporation (Nasdaq: UAHC), which owns and provides comprehensive healthcare management services to a managed care organization in Tennessee, today announced that its Board of Directors has approved a share repurchase program, authorizing the Company to repurchase up to $1.0 million of its outstanding common stock.

The program allows for the Company's common shares to be purchased in the open market at prevailing prices from time to time at the discretion of management and in accordance with applicable federal securities laws. Share repurchases under this program may be made through a variety of methods, which may include open market purchases, block trades or otherwise, or by any combination of such methods. The timing of repurchases and the exact number of shares of common stock to be purchased will depend upon market conditions and other factors. The repurchase program does not obligate the Company to repurchase any specific number of shares and may be modified or discontinued at any time. The program will be funded using the Company's existing cash balances as well as cash generated from operations. The Company currently has 8.8 million shares of common stock outstanding.

"We are pleased to underscore our commitment to enhancing shareholder value with this share repurchase authorization," said William C. Brooks, president and CEO of United American Healthcare. "Our management team and Board remain actively engaged in reviewing a variety of long-term strategic alternatives for the Company. In considering these options, we are currently guided by three objectives: a significant revenue contribution, positive EBITDA and long-term growth opportunities. During this review, as we have previously reported, all options are being considered, includ
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