Allied Healthcare $10 Million Stock Repurchase

 

TIDMAHI 
 
RNS Number : 0868M 
Allied Healthcare International Inc 
18 May 2010 
 

Allied Healthcare International Inc. Announces $10 Million Stock Repurchase 
Program 
 
NEW YORK, NY--(Marketwire - May 18, 2010) - Allied Healthcare International Inc. 
(AIM: AHI) ("Allied" or the "Company"), a leading provider of flexible 
healthcare staffing services in the United Kingdom, announces today that its 
Board of Directors has approved a stock repurchase program under which the 
Company is authorized to repurchase, from time to time in the open market or 
negotiated transactions, shares of its outstanding common stock in an aggregate 
amount up to $10 million. 
 
Purchases are expected to be funded by existing cash on hand and cash flows from 
operations. Such repurchases will be made in accordance with applicable 
securities laws and other requirements, and will depend on the stock price, 
prevailing market and business conditions and other considerations. Any stock 
repurchased by the Company under this program will be transferred into treasury. 
Allied will, on a weekly basis, provide disclosure in relation to those shares 
that have been taken into treasury. 
 
As of May 14, 2010, the Company had approximately 45.1 million shares of common 
stock outstanding. 
 
Jeffrey Peris, Chairman of Allied, commented, "The stock repurchase program 
marks another step in our Company's focus on creating value for our 
shareholders. While we continue to look for acquisitions, we remain disciplined 
and believe that this stock repurchase provides favorable returns at this time." 
 
ABOUT ALLIED HEALTHCARE INTERNATIONAL INC. 
 
Allied Healthcare International Inc. is a leading provider of flexible 
healthcare staffing services in the United Kingdom. Allied operates a 
community-based network of over 110 branches with the capacity to provide carers 
(known as home health aides in the U.S.), nurses, and specialized medical 
personnel to locations covering approximately 90% of the U.K. population. Allied 
meets the needs of private patients, community care, nursing and care homes, and 
hospitals. For more news and information please visit: www.alliedhealthcare.com. 
 
FORWARD-LOOKING STATEMENTS 
 
Certain statements contained in this news release may be forward-looking 
statements. These forward-looking statements are based on current expectations 
and projections about future events. Actual results could differ materially from 
those discussed in, or implied by, these forward-looking statements. Factors 
that could cause actual results to differ from those implied by the 
forward-looking statements include: general economic and market conditions; 
Allied's ability to continue to recruit and retain flexible healthcare staff; 
Allied's ability to enter into contracts with local government social services 
departments, NHS Trusts, hospitals, other healthcare facility clients and 
private clients on terms attractive to Allied; the general level of demand for 
healthcare and social care; dependence on the proper functioning of Allied's 
information systems; the effect of existing or future government regulation of 
the healthcare and social care industry, and Allied's ability to comply with 
these regulations; the impact of medical malpractice and other claims asserted 
against Allied; the effect of regulatory change that may apply to Allied and 
that may increase costs and reduce revenues and profitability; Allied's ability 
to use net operating loss carry forwards to offset net income; the effect that 
fluctuations in foreign currency exchange rates may have on our 
dollar-denominated results of operations; and the impairment of goodwill, of 
which Allied has a substantial amount on the balance sheet, may have the effect 
of decreasing earnings or increasing losses. Other factors that could cause 
actual results to differ from those implied by the forward-looking statements in 
this press release include those described in Allied's most recently filed SEC 
documents, such as its most recent annual report on Form 10-K, all quarterly 
reports on Form 10-Q and any current reports on Form 8-K filed since the date of 
the last Form 10-K. Allied undertakes no obligation to publicly update or revise 
any forward-looking statements, whether as a result of new information, future 
events, or otherwise. 
 
Contact: 
 
 Allied Healthcare International Inc. 
 Sandy Young 
 Chief 
Executive Officer 
 Paul Weston 
 Chief Financial Officer 
 [phone] 
0600 
 Or 
 Piper Jaffray Ltd. (Nominated Adviser) 
 Matthew 
Flower 
 Rupert Winckler 
 [phone] 
 Or 
 ICR, LLC 
 Sherry 
Bertner 
 Managing Director 
 [phone] 
[e-mail] 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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