SOURCE: XTend Medical Corp.

November 27, 2007 06:31 ET

XTend Medical (XMDC) Announces Stock Repurchase Program

Company to Repurchase up to 5M Shares

SUN VALLEY, CA--(Marketwire - November 27, 2007) - XTend Medical Corporation (PINKSHEETS: XMDC) announced the company's Board of Directors has authorized a stock repurchase program and the company will repurchase up to 5 million shares of the Company's common stock. Transactions may occur from time to time, either on the open market or privately negotiated. The stock repurchase is subject to market conditions, corporate and regulatory requirements. The program authorizes the company to repurchase shares of the company's common stock until March 31, 2008 in open market or private transactions. The company has no obligation to repurchase shares under the program and the program may be suspended or terminated at any time.

"Consistent with our goal to grow the company and deliver long term shareholder value, we feel this program allows us to be opportunistic in buying shares of our stock when favorable market conditions exist while continuing our strategy of developing several telehealth programs that will be presented, and subsequently implemented, into major health care associations. The shares will be held in the company treasury and used for acquisitions, shareholder dividends, and employee incentive programs. The Board's approval of this program shows a strong belief in XTend Medical and its future. This decision was made based on our consideration of the current share price which our management believes is not indicative of the underlying true value of our company. Based on our projected revenues and the industry average forward P/E ratio of 30, our management believes the share price should be in the $.90 - $1.00 range," stated Mr. Paul D. Lisenby, Chairman and CEO of XTend Medical.

About XTend Medical: XTend Medical Corporation markets and sells healthcare and wellness products to hospitals, managed care companies, nursing homes, physician groups and individual patients. Through their alliances, XTend offers pharmacy services, diabetic supplies, and telemedicine products that increase patient care yet reduce costs associated with servicing those patients.

Safe Harbor

This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction, and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.

Contact Information

  • Contact:
    FutureTechIR for XTend Medical Corporation
    Investor Relations
    (817) 812-2105