Health Grades, Inc. (NASDAQ:HGRD), the leading independent healthcare
quality ratings company, announced today that on March 19, 2008, its
Board of Directors approved an increase to the Company’s
existing stock repurchase program of up to 500,000 additional shares
bringing the total authorization to 3,500,000 shares. Since the initial
3,000,000 share repurchase authorization was approved by the Board of
Directors on June 22, 2006 and through March 21, 2008, the Company
repurchased 2,965,050 shares of common stock for an aggregate purchase
price of $15,118,296, which includes commissions and fees of $120,135.
The repurchases will be made at management’s
discretion from time to time in the open market or in privately
negotiated transactions in compliance with applicable securities laws
and other legal requirements subject to certain restrictions on volume,
pricing and timing. The repurchase plan does not obligate the Company to
acquire any particular amount of common stock and the plan may be
suspended or discontinued at any time without notice.
About Health Grades, Inc.
HealthGrades (NASDAQ:HGRD) is the leading healthcare ratings company,
providing ratings and profiles of hospitals, nursing homes and
physicians to consumers, corporations, health plans and hospitals.
Consumers and some of the nation’s largest
employers, health plans and hospitals rely on HealthGrades’
independent ratings to make healthcare decisions based on the quality of
care. More information on the company can be found at http://www.healthgrades.com.
Statements contained in this press release that are not historical facts
may be forward-looking statements as that item is defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking statements
involve risks and uncertainties that could result in actual results
differing materially from expected results and represent the Company’s
expectations and beliefs concerning future events based on information
available to the Company. Information regarding factors that may impact
future performance are described in the Company’s
filings with the Securities and Exchange Commission, especially the
section entitled “Risk Factors”
in its 2007 Annual Report on Form 10-K. The Company does not undertake
to update its forward-looking statements.
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