INDIANAPOLIS, Nov. 16 Standard ManagementCorporation ("Standard Management" or the "Company")(OTC Bulletin Board: SMAN), an Indianapolis-based company, provides throughUniversal Healthcare Company, LLC ("Universal" or "UHCC") pharmaceuticals tothe long-term care and infusion therapy sector of the healthcare industry,today announced the signing of a definitive stock purchase agreement to sellits specialty pharmacy, Precision Healthcare of Nashville, Tennessee, and aparcel of undeveloped real estate to the Schmidt Family Trust of Henderson,Nevada.
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Chairman, President and Chief Executive Officer, Ronald D. Hunter, stated"The transaction allows Standard Management to further enhance its balancesheet by eliminating approximately $3 million in debt and liabilities."
Mr. Hunter continued, "The Company through UHCC is focusing on largerinstitutional pharmacies that are more of a pure play in the long term caremarket with skilled nursing facilities and assisted living facilities."
This press release contains "forward-looking statements" within themeaning 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, generallyidentify forward-looking statements. Forward-looking statements in this pressrelease include, without limitation, the ability of the Company to address thefactors sighted by our independent auditors as a basis for their qualifiedaudit opinion, the performance and growth of our business, potential futureacquisitions, and their impact on the Company's performance. These forward-looking statements are subject to known and unknown risks, uncertainties andother factors, which could cause actual results to be materially differentfrom those contemplated by the forward-looking statements. Such factorsinclude, but are not limited to the ability of our management team tosuccessfully operate a health services business with limited experience inthat industry; our ability to expand our health services business bothorganically and through acquisitions, including our ability to identifysuitable acquisition candidates, acquire them at favorable prices andsuccessfully integrate them into our business; general economic conditions andother factors, including prevailing interest rate levels and stock marketperformance, which may affect our ability to obtain the proposed capital andadditional capital when needed and on favorable terms; customer response tonew products, distribution channels and marketing initiatives; and increasingcompetition in the sale of our products.
We caution you that, while forward-looking statements reflect our goodfaith beliefs, these statements are not guarantees of future performance. Inaddition, we disclaim any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events orotherwise, except as required by law.
Standard Management is a holding company headquartered in Indianapolis,IN. Information about the Company can be obtained by calling the InvestorRelations Department at 317.574.6210 or via the Internet at www.SMAN.com.
SOURCE Standard Management Corporation