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Unity Management Group Inc. Announces Stock Repurchase Program

^{Published on 2010-07-13 06:10:51 - Market Wire}
 

MIAMI, FL--(Marketwire - July 13, 2010) - Unity Management Group Inc. (PINKSHEETS: [ UYMG ]), a Health Resource Company specializing in Physician and Hospital Practice Management, Medical Discount Plans, Business Services, Billing Software and Technologies.

Unity Management Group Inc. today announced that its Board of Directors has authorized a purchase of up to 2,000,000 shares of its issued and outstanding common stock as part of a stock buyback program.

"We believe that the current share price does not accurately reflect UYMG's growth prospects and therefore this stock buyback represent an excellent investment opportunity for both the Company and our shareholders," said Michael Oliver, VP and Chairman. "We believe this initiative will result in the most effective use of our capital. In addition, the strength of our balance sheet enables us to simultaneously execute this program while still retaining significant flexibility to achieve our long-term growth strategies and build greater value for our shareholders," concluded Mr. Oliver.

The timing and exact number of shares purchased will be at the Company's discretion and will depend on market conditions. All repurchases, which are expected to be funded from the Company's current cash and future cash flow, may occur in open market, negotiated or block transactions. The Company will not repurchase any shares from its management team or other insiders. This stock buyback program does not obligate the Company to acquire any specific number of shares and may be suspended or discontinued at any time.

We feel that this is one more important step in the longevity and the growth of the company. For more information please go to our website which can be found at [ www.unitymanagementgroup.com ]

Share structure:
100,000,000 million authorized
87,035,620 million issued and outstanding
43,439,460 million float

Unity Management Group, a health resource company, will continue to provide innovative physician practice management services that offer high value and significant return on investment for physicians practices and hospitals through its three subsidiary companies: United Healthcare Solutions Inc. Unity Technologies Inc., and United Business Services Inc.

The first subsidiary, Unity Business Services, is a full service management company offering solutions in practice management, billing, staffing, contracting, licensing, credentialing, and accounting. Unity Business Services also offers assistance in HIPAA compliance, marketing, and unique solutions for practice start-ups and new practices.

Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physician's offices and hospitals.

United Healthcare Solutions, a national company based in Nevada, is a healthcare company will be providing medical, vision and dental discount plans, as well as PPO and HMO networks.

The combination of these three subsidies provides unprecedented access to skilled leadership, managed care expertise, information systems, and economies of scale. Alex Berkovich, President of United Management Group, stated, "Through this merger, we are in a unique position to address the rapidly changing needs of the medical community. Business expertise is critical to the success of today's physician offices and hospitals and we expect unpatrolled growth in the near future."

Unity Management Group Locations:

Contributing Sources

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Market Wire