HOUSTON, July 6, 2001 (PRIMEZONE) -- SurgiCare, Inc. (OTCBB:SXCR), a Houston-based Ambulatory Surgical Center (ASC) provider, announced today that its common stock has been approved for trading on the American Stock Exchange. SurgiCare will begin trading on the AMEX next week under the symbol (AMEX:SRG). The exact date that trading will begin will be announced next week.
While in the process of its application and acceptance to the AMEX, SurgiCare let its Nasdaq application go dormant and expire. The company filed with the Nasdaq Small Cap last January, though while in the process, targeted and successfully joined the AMEX. SurgiCare has grown rapidly since going public in late 1999, working hard to locate and acquire profitable ambulatory surgical centers and building solid strategic partnerships. This has allowed SurgiCare to maintain a solid level of shareholder interest and support, even while other OTC BB companies have felt the pinch of the bear market.
About AMEX
As the nation's second largest floor-based exchange, the American Stock Exchange has a significant presence in common stocks, index shares and equity derivative securities. On the AMEX, trading is conducted through an advanced centralized Specialist system combining the speed of computer-delivered orders with the liquidity of customer-driven markets. Today, AMEX is on the leading-edge of exchanges worldwide in developing successful new investment products and innovative services for companies and investors. AMEX members represent a comprehensive cross-section of the nation's leading brokerage houses, including 807 regular members who transact business in equities and options, and 57 options principal members who execute transactions in options only.
About SurgiCare, Inc.
SurgiCare, Inc. offers licensed, freestanding Ambulatory Surgery Centers for use by physicians and its physician partners and their patients. Freestanding refers to the fact that the facilities are physically and organizationally independent from a hospital. Ambulatory Surgery means surgical procedures that do not require overnight hospitalization after the surgery. The ASCs are run under the guidance of a committee of physician partners. SurgiCare's goal is to grow through mergers, acquisitions, and turnkey management contracts in conjunction with physician-involved supervision and potential equity participation within a public company model. For more information on SurgiCare, please visit the company's Website at www.surgicareinc.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of SurgiCare, Inc. (the Company) to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others, the risk factors contained in the Company's Annual Reports and other filings with the Securities and Exchange Commission. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.