Patient Portal Technologies Declares Dividend Distribution of Suncoast Nutriceuticals Shares


PALM BEACH GARDENS, Fla., Oct. 9, 2007 (PRIME NEWSWIRE) -- Patient Portal Technologies, Inc. (OTCBB:PPRG) announced today that its Board of Directors has approved the distribution to its shareholders of the 3,500,000 Shares of Common Stock of Suncoast Nutriceuticals, Inc. which it received in 2005 as a result of the divestiture of its former Caribbean Pacific Natural Products subsidiary. The share dividend will be made on a pro-rata basis to the Company's shareholders of record as of the close of business on October 31, 2007, with the distribution of the Suncoast Nutriceutical shares to take place at a later date upon the approval of an effective registration with the U.S. Securities and Exchange Commission.

"We have been notified by Suncoast Nutriceuticals of their intention to file for an initial public offering for their company, and we decided that this would be an appropriate time to exercise our registration rights and to distribute this non-core asset to our shareholders through a share dividend," said Kevin Kelly, President of Patient Portal Technologies. "When the registration is approved, our shareholders will automatically receive as a dividend their pro-rated shares of Suncoast Common Stock which will be freely-tradable in whatever public market Suncoast shares may be traded," Mr. Kelly added.

Patient Portal Technologies, Inc. is a leading provider of technology solutions and process improvements for healthcare institutions and providers. The company's products and services utilize a state-of-the-art proprietary software platform that optimizes patient flow, reduces administrative costs, provides patient education, and maximizes reimbursement services to providers.

Company information is available at http://www.patientportal.com.



            

Contact Data