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Ridgecrest Healthcare Portfolio Company Goes Public on London Stock Exchange Oct 25, 2006 9:00:00 AM EL SEGUNDO, CA -- (MARKET WIRE) -- 10/25/06 -- Ridgecrest Healthcare Ventures, a division of Ridgecrest Healthcare Group, Inc. (PINKSHEETS: RGHG), announces the completion of a reverse merger and listing of ValiRx plc, one of the portfolio companies of Ridgecrest Healthcare Ventures, on the Alternative Investment Market of the London Stock Exchange.
As part of this transaction, Ridgecrest Healthcare Ventures received 33,750,000 common shares and 9,000,000 deferred consideration shares valued at approximately $800,000 based on current trading.
Ridgecrest Healthcare Ventures specializes in bringing entrepreneurial and corporate finance expertise to its clients to realize their plans for new business development, expansion and financing. Clients have included hospitals, medical groups, specialty outpatient service providers and related entities.
Phil Dalton, CEO of Ridgecrest Healthcare Group, stated, "This is the first in a series of value added transactions we expect to complete within Ridgecrest Healthcare Ventures. We congratulate the management team of ValiRx on its listing. We believe that ValiRx, a high growth healthcare company, is now well positioned as a publicly traded entity on the London Stock Exchange, giving it access to the growth capital it will require to grow and prosper."
Ridgecrest Healthcare Group, Inc. is a healthcare management services company that works with large healthcare providers, healthcare companies, government and related companies and organizations. Ridgecrest further seeks to acquire and operate healthcare management companies and leverage its relationships and strategic and financial expertise to enhance and grow these enterprises.
For more information on Ridgecrest Healthcare Group, Inc., please visit our website at: www.rchealthcare.com
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release. The Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the Company's expectations.
Contact: Derek Buchanan Ridgecrest Healthcare Group, Inc. 310-531-8230 E-mail: info*rchealthcare.com
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