Aug 25, 2008 -- ER Urgent Care Holdings, Inc. (PINKSHEETS: ERUC | Quote | Chart | News | PowerRating) is pleased to announce that the Company's Board of Directors has approved a plan to offer Shareholders the opportunity to exchange their Common Stock for shares of a new series of Preferred Stock. This plan calls for each one thousand shares of the Company's Common Stock tendered to be exchanged for one share of the Company's newly created Preferred Stock, having a stated value of $1.00 per share. The Company expects that the exchange will be based upon the value of Common Stock shares of $0.001 per share. The shareholders would also receive warrants to purchase additional shares of the Company's Common Stock at $.01 per share. A shareholder must tender at least one million shares of Common Stock to qualify and take part in this exchange offer. The deadline for accepting the exchange offer and delivery of physical certificates to the Company's transfer agent is by the close of business on September 30, 2008. No conversion of the Series B Preferred Stock to Common Stock can occur until after a holding period of three months from the date of the new certificate. Thereafter, shareholders may convert the Preferred Stock into Common Stock. ER Urgent Care also intends to retire all shares of Common Stock that are turned into the Company, which would dramatically reduce the size of both the number of outstanding common shares of stock and the float. "The Board's opinion is that our current share price is not representative of its true value, and that following the exchange these shares should be trading at higher levels. Our Company is going through several significant transitions including the recent agreement with Cinergy Health, a large, nationwide health plan company, headquartered in Florida. We agree that a share exchange program is in the best interests of ERUC and its shareholders," stated Mark Solomon, President of ER Urgent Care Holdings, Inc.
Aug 25, 2008 -- InforMedix Holdings, Inc. (OTCBB: IFMX), and HC Innovations, Inc., the holding company for Enhanced Care Initiatives (ECI), are pleased to announce that they have signed a Letter of Agreement whereby as many as 500 of ECI's complex patients will be monitored by InforMedix's Med-eXpert System. Med-eXpert provides critical intelligence on the medication adherence and health status of chronically ill outpatients, by capturing this information from patients using Med-ePhone and Med-eMonitor patient appliances, and providing instant alerts if patients miss medication or their health is declining. Enhanced Care Initiatives provides relationship driven complex care management services for medically unstable, complex patients through a program of 24/7 clinical support and intensive interventions that are based upon care plans guided by a proprietary electronic health record (EHR) system. ECI will use InforMedix's information systems to receive real-time, actionable information that is customized to optimize health and reduce costs. ECI plans to use the medication monitoring systems in a focused manner, as an additional tool in the complex care management program as we prevent costly hospitalizations, nursing home admissions, and other high-cost events; while improving the health status of its complex patients. Bruce A. Kehr, M.D., CEO of InforMedix, noted, "We are really pleased to be working with ECI, a pioneering and nationally renowned chronic care management company that specializes in truly integrating the patient with the physician and health care team, as well as the patients' caregivers. ECI has built its reputation for superb outcomes management in part on timely, accurate and comprehensive data, and we believe that our Med-eXpert System will significantly expand ECI's capabilities in this regard."
Aug 25, 2008 - OptumHealth, the health and wellness business of UnitedHealth Group (NYSE: UNH), announced today that it is providing a free help line to people in Florida coping with the emotional consequences of Tropical Storm Fay. Staffed by experienced master's-level behavioral health specialists, the free help line offers assistance to callers seeking help in dealing with stress, anxiety and the grieving process. Callers may also receive referrals to a database of community resources to help them with specific concerns, such as financial and legal issues. Previously, OptumHealth's help line assisted individuals free of charge following the floods in New Mexico and the Midwest, Hurricane Dolly in Texas, past hurricanes in Florida and the Gulf Coast, wildfires in Southern California, and the collapse of the Interstate 35W bridge in Minneapolis. Such help line services are routinely available to members of UnitedHealthcare courtesy of OptumHealth. OptumHealth serves customers of its sister companies - such as UnitedHealthcare - as well as customers of non-UnitedHealth Group businesses.
Aug 25, 2008 -- Emeritus Corporation (AMEX: ESC), a national provider of assisted living and related services to senior citizens, announced today that it has entered into an agreement to lease 11 communities from affiliates of HCP, Inc. The communities are comprised of 1,462 units and are located in California, Connecticut, Massachusetts, Maryland, New Jersey, and Virginia. The term of the lease is ten years with an option to purchase the properties beginning at the end of the fifth year and continuing through the end of the lease term. The closing of this lease transaction is subject to due diligence and other customary conditions to closing. The Company expects the transaction to close by the end of the fourth quarter of 2008.
Market Wrap for August 25th, 2008
The stock market started the week on a sharply lower note in the lightest trading volume of the year. Overall it was a slow news day, although there were several negative headlines out of the financial sector. Trading volume was very light with only 865 million shares exchanging hands on the NYSE, so it is not clear how much conviction was behind this session's move. Still, buyers showed little interest, considering that 95% of stocks within the S&P 500 posted a loss. All ten economic sectors declined at least 1%. Although weakness was widespread, the financial sector (-3.1%) took the brunt of the selling pressure. Only three of the financial sector's 89 components posted a gain. Freddie Mac's (FRE 3.32, +0.51) $2 billion debt offering received increased interest from investors, sending shares of the struggling government-sponsored enterprise sharply higher. Fannie Mae (FNM 5.31, +0.31) rose in conjunction with Freddie. Bond insurer MBIA (MBI 10.83, +0.63) rose on no specific news item. Other sectors that posted large losses include consumer discretionary (-2.4%), materials (-2.3%) and telecom (-2.2%). The defensive-oriented utilities sector (-1.1%) outperformed on a relative basis, benefiting from a rally in the long end of the Treasury yield curve, with the 10-year note climbing 23 ticks and the 30-year bond gaining 38 ticks. The energy sector (-1.5%) also outperformed on a relative basis, after crude oil prices posted a modest gain of 0.5% to $115.12 per barrel in volatile trade. Existing home sales are down 13.2% year-over-year, and have an inventory supply of 11.2 months, compared to the 2007 average inventory supply of 8.9 months. The inventory of single family homes, however, improved to a 10.6 months supply from 11.0, which indicates that falling prices are helping to stimulate demand. The median sales price fell 1.3% month-over-month to $212,400, and is down 7.1% compared to last year.
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InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market. Please consult your broker before purchasing or selling any securities mentioned herein. InvestSource has agreed to be compensated 8,900,000 unrestricted shares of ERUC for services rendered. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).
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