Prospect Medical Holdings to Commence Trading on the Nasdaq Global Market
22 September 2009 - 12:22AM
Business Wire
Prospect Medical Holdings, Inc. (NYSE Amex: PZZ)
(“Prospect”), which provides quality, coordinated healthcare and
physician services in southern California, today announced that,
effective September 30, 2009, shares of its common stock are
scheduled to move from trading on the NYSE Amex to trading on the
Nasdaq Global Market. The stock will continue to trade under the
symbol “PZZ.”
Prospect’s acceptance to the Nasdaq Global Market is another
important corporate milestone, and a reflection of its continuous
progress as a public company. Prospect is continuing to strengthen
its core operations and improve its capital structure as it creates
a platform for future organic and acquisition-driven growth.
Prospect reported fiscal 2009 third quarter (ended June 30th)
financial results that included a 41% increase in revenues to
$114.3 million, a 65% rise in operating income to $6.7 million, a
25% improvement in Adjusted EBITDA to $12.8 million, and trailing
twelve month adjusted EBITDA of $50.4 million.
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ABOUT PROSPECT MEDICAL
HOLDINGS
Prospect operates five community-based hospitals in the greater
Los Angeles area and manages the medical care of over 183,200
individuals enrolled in HMO plans in Southern California through a
network of approximately 13,900 specialist and primary care
physicians.
This press release contains forward-looking statements.
Additional written or oral forward-looking statements may be made
by Prospect from time to time, in filings with the Securities and
Exchange Commission, or otherwise. Statements contained herein that
are not historical facts are forward-looking statements. Investors
are cautioned that forward-looking statements, including the
statements regarding anticipated or expected results, involve risks
and uncertainties which may affect Prospect’s business and
prospects, including those outlined in Prospect’s Form 10-K filed
on December 29, 2008 and other SEC filings. Any forward-looking
statements contained in this press release represent our estimates
only as of the date hereof, or as of such earlier dates as are
indicated, and should not be relied upon as representing our
estimates as of any subsequent date. While we may elect to update
forward-looking statements at some point in the future, we
specifically disclaim any obligation to do so, even if our
estimates change.
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