Wizzard Files To Spin Off Healthcare Business to Shareholders
New Public Company To Focus On Healthcare Opportunities Resulting from Obamacare
PITTSBURGH--(BUSINESS WIRE)-- Wizzard Software (WZE) today announced that it has filed a registration statement with the SEC to begin the process of spinning off its Healthcare business as a new, separate public company to shareholders. The proposed plan calls for a 1 for 1 special stock dividend for shareholders of record on June 15th, 2012.
We are excited about spinning off our profitable, healthcare subsidiary to our shareholders as we focus on our core media assets with the acquisition of FAB, the continued growth of our online media distribution business and prepare for additional, large acquisitions in the media distribution industry, says Chris Spencer, Wizzard CEO. We believe that with major disruption resulting from Obamacare and other recent healthcare legislation comes unique opportunities for new businesses and new growth. We plan to create a disruptive opportunistic platform to capitalize on the changing legislative and economic conditions and offer better services, at better prices to help more people and do our part to reduce healthcare costs while generating substantial growth and value for our shareholders.
About Wizzard Software
Through its Media business segment, Wizzard Media provides podcast publishers with distribution and monetization services. Our clients include Microsoft, National Geographic, Harvard Business Review, NPR and more than 14,000 others who use Wizzard Media products to measure their podcast audience, deliver popular audio and video entertainment and monetize their content through advertising and App sales. In 2011, the Wizzard Media Network reached over 22 million monthly unique users worldwide through iPods, iPhones, iTunes, Zunes, Androids, BlackBerrys and many other devices and destinations. Wizzard Media is part of a publicly-held, Pittsburgh based company with Software and Healthcare business segments, thousands of shareholders and a world-class team. Visit us on the web at www.wizzardsoftware.com/media, email us at email@example.com.
Legal Notice Regarding Forward-Looking Statements: "Forward-looking Statements" as defined in the Private Securities litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. We disclaim any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services, changes in our business strategies and acts of terror against the United States.
Arthur Douglas & Associates
Art Batson, 407-478-1120
Source: Wizzard SoftwareCopyright Business Wire 2012