Statement from Northstar Healthcare
TORONTO and HOUSTON, May 5 /CNW/ - Northstar Healthcare Inc. (TSX:NHC) today responded to a news release issued earlier today on behalf of Donald L. Kramer, M.D. In the news release Dr. Kramer announced that he intends to make an offer to acquire all of the issued and outstanding common shares of Northstar.
As of this date, Dr. Kramer has not made a formal offer for Northstar. Should one be received from him or from any other party, the company's board will, consistent with its fiduciary duties and in consultation with its financial and legal advisors, review and consider it and respond in the appropriate manner.
Northstar stated that it would not be appropriate to comment at this time on the statements expressed by Dr. Kramer in his news release with respect to the company's operations or the arbitration process.
About Northstar Healthcare Inc.
Northstar owns and/or manages ambulatory surgery centres in the United States, focusing initially on Houston and other metropolitan areas in Texas. The Company currently holds interests in two ambulatory surgery centres in Houston - a 70% partnership interest in The Palladium for Surgery - Houston and a 60% partnership interest in Medical Ambulatory Surgical Suites.
Northstar was founded and sponsored by Donald Kramer, M.D. and Stewart A. Feldman. Mr. Feldman also served as the co-principal and Chairman and Chief Executive Officer of Healthcare Ventures, Ltd., which sponsored Northstar, with Dr. Kramer serving as its President.
This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Northstar Healthcare Inc. (the "Company") and the environment in which it operates. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. These statements are based on the Company's expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company's regulatory filings available on the Company's web site at www.Northstar-Healthcare.com or at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
%SEDAR: 00025141EFor further information: Philip Koven, Tel: (416) 447-4740 Ext. 235, E-mail: firstname.lastname@example.org