SOURCE: Ridgecrest Healthcare Group, Inc.

December 14, 2007 08:00 ET

Ridgecrest Healthcare Announces Buy-Back of Shares From Major Shareholder

EL SEGUNDO, CA--(Marketwire - December 14, 2007) - Ridgecrest Healthcare Group, Inc. (PINKSHEETS: RGHG), the healthcare consulting and management company, announced today that it has bought back the entire 44% share holding of Healthcare Enterprise Group PLC in the company (comprised of 3,448,118 common shares and 6,283,138 preference shares) in exchange for its holdings in two companies: ValiRx PLC and Cancer Therapeutics, Inc.

It is the intent of the Company to explore options for recapitalization and to provide incentives to those within the company to help the company grow into the future.

Phil Dalton, CEO of Ridgecrest Healthcare Group, commented, "This event marks an important milestone in the history of the company in that it provides an opportunity to create a new platform for the growth in shareholder value through recapitalization and the provision of incentives to key management."

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:

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.

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