SOURCE: Healthnostics, Inc.

November 17, 2010 08:57 ET

Healthnostics Announces Repurchase Results

NEW YORK, NY--(Marketwire - November 17, 2010) - Healthnostics, Inc. (PINKSHEETS: HNSS) announced the results of its Repurchase Plan that sought "blocks of Healthnostics stock of at least 500,000 or more free-trading shares." By the November 12, 2010, deadline only five stockholders had submitted requests to sell shares and at prices ranging from 70 to 600 percent higher than the market price. They were informed that the Company has a fiduciary responsibility to its stockholders that precludes it from enriching a few at the expense of the many.

The fact that so few investors were willing to part with their shares and only at levels greatly in excess of the market price was a vote of confidence and a confirmation of our stockholders' faith in the direction and future of the Company.

As a result, management redirected its resources internally and announced plans to build three new "speed, space, and specialization" machines based upon its One-Machine-One-Product concept, a decision that will triple the Company's production capabilities.

About Healthnostics

Healthnostics, Inc. is a medical product manufacturer, system manufacturer and product distribution company. Healthnostics' subsidiary, Worldwide Wipes Co., is a manufacturer and distributor of medical and general swabs.

For further information please visit Healthnostics, and Worldwide Wipes Co.

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This press release may contain certain statements that are not descriptions of historical information, but are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Exchange Act of 1934. These forward-looking statements refer to matters that involve risks and uncertainties. Such statements reflect management's current views and are based on certain assumptions. Actual results could differ materially from the assumptions currently anticipated.

Contact Information

  • Contact:
    Healthnostics, Inc.
    Investor Relations
    P. 301-956-3342
    Email Contact