SOURCE: University General Health System, Inc.

University General Health System, Inc.

May 09, 2011 15:57 ET

University General Health System, Inc. Files SEC Financial Data for Predecessor Business

HOUSTON, TX--(Marketwire - May 9, 2011) - University General Health System, Inc. (PINKSHEETS: UGHS) today announced the filing of Forms 10Q, 10K, and 8K-A with the Securities and Exchange Commission ("SEC") covering its predecessor business known as "SeaBridge Freight Corp." As previously reported, University General Health System divested its interests in SeaBridge Freight Corp. on March 28, 2011. These filings will allow University General Health System to become current with all mandatory filings with the SEC.

"At the time of our business combination and reorganization with SeaBridge Freight Corp., we were aware that it was in the process of finalizing its audit and other financial reporting requirements," stated Michael Griffin, Chief Financial Officer of University General Health System, Inc. "We welcome the completion of these filings today and are very pleased with the current status of our reporting. We do not want our shareholders to be confused by the release of this information, as it relates to our predecessor business and not the current business of University General Health System. We expect to file our Form 10Q and Form 8K-A shortly with the SEC, which will provide an indication of our financial status as a public company."

University General Health System, Inc.

University General Health System ("University General") is a diversified, integrated, multi-specialty health care provider that delivers concierge physician- and patient-oriented services by providing timely, innovative health solutions that are uniquely competitive, efficient, and adaptive in today's health care delivery environment. The Company currently operates one hospital and one free-standing emergency room in the Houston area, and it plans to complete multiple acquisitions in 2011 and future years in Houston and other markets.

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.

For additional information, please contact:

RJ Falkner & Company, Inc., Investor Relations Counsel at (830) 693-4400 or via email at info@rjfalkner.com

Contact Information

  • For additional information, please contact:
    RJ Falkner & Company, Inc.
    Investor Relations Counsel
    (830) 693-4400
    info@rjfalkner.com