Community Health Systems, Inc. (NYSE:CYH)
CYH announced this month that its Board of Directors approved a new open market share repurchase program for up to four million (4,000,000) shares of CYH's Common Stock.
The open market repurchase program will succeed an existing share repurchase program for up to three million (3,000,000) shares of the Company's Common Stock, which program was initiated on December 9, 2009. Under the existing open market repurchase program, 2,950,000 shares have been repurchased at a total cost (including commissions) of $99,550,041.
The new open market repurchase program will terminate on the earlier to occur of the purchase of an aggregate of four million (4,000,000) shares of Common Stock under the new open market stock repurchase program, not to exceed total purchases of $100,000,000, or September 14, 2013. CYH had approximately 94 million shares outstanding as of September 15, 2010.
CYH. provides healthcare services through the operation of hospitals in the United States. CYH offers a range of general and specialized hospital healthcare services, including general acute care services, emergency room services, general and specialty surgery, critical care, internal medicine, obstetrics, and diagnostic services. CYH also owns or partners with physicians, physician practices, imaging centers, and ambulatory surgery centers. In addition, CYH provides management and consulting services to non-affiliated general acute care hospitals. As of December 31, 2009, CYH owned or leased 122 hospitals with an aggregate of 18,140 licensed beds in non-urban and selected urban markets in 29 states. CYH also owned and operated four home care agencies. CYH was founded in 1985 and is headquartered in Franklin, Tennessee.
To learn more about CYH visit: http://www.chs.net
Proteonomix, Inc. (OTCPK:PROT)
PROT, a biotechnology company focused on developing therapeutics based upon human cells and their derivatives, announced further developments with its Joint Venture Company, XGEN Medical LLC ("XGen") towards implementing operations in the United Arab Emirates (U.A.E.).
PROT is the majority shareholder in XGen with the balance held by an anonymous investor group. PROT personnel were on the ground in the U.A.E. over the past weeks to work together with the Investor Group through the start up phase. To date, XGen has established an office in the Monarch Office Tower on the prestigious Sheikh Zayed Road, and a residence for visiting PROT personnel on Jumeira 2.
During initial meetings, it was mutually decided to open a local subsidiary corporation in the Dubai free zone. This wholly owned subsidiary will be the vehicle to conduct business in the GCC countries. XGen has filed the corporate papers and has established banking relations with a local bank both for receipt of the initial investment of $5 million and towards further financing expanded services in the region. The Ramadan holiday has slowed progress slightly on these corporate formalities, but full operation of the subsidiary and bank accounts are expected to complete within 30 days.
It was further announced that XGen has expanded its talks within the region beyond a license for manufacture of and treatment with PROT cellular material. Discussions are now further encompassing both the construction of XGen's own manufacturing and treatment facility within the U.A.E. and on funding phased trials for one or more of PROT's proprietary cellular materials for treatment of disease.
PROT CEO, Michael Cohen commented that "The business environment in the U.A.E. is very receptive to Proteonomix and our medical technologies. There is an intense focus on high quality public medical care as well as cutting edge technology. When combined with the rebounding financial condition within the region, we are very pleased to have this opportunity to conduct business in a growing location for medical advancement."
PROT, a biotechnology company, engages in the development of stem cell therapies primarily for the treatment of diabetes and cardiac therapy, as well as offers cosmeceutical products. The stem cell therapy involves the introduction of healthy new stem cells to repair and replace damaged or lost cells. It offers product for the treatment of anti-aging and damaged skin. PROT develops cosmetic products using its technologies, Secreted Matrix and Matrix NC-138 that is a stem cell derived proteins technology. PROT is also involved in the operation of retail Web site, Proteoderm.com to sell its anti-aging line of skin care products; develops therapeutic modalities for the treatment of cardiovascular disease; and engages in the reproductive tissue banking, including sperm, ova, ovarian tissue, and testicular tissue. In addition, PROT develops intellectual properties for patent applications, including a medium and scaffolding for enhancing the growth of stem cells, a growth platform for stem cells, a cord blood banking cryopreservation bag, and a device to eliminate malformed stem cells via filtration. Further, PROT is developing pre-clinical-stage therapeutic agents and treatments for cancer, diabetes, heart, lung, and kidney diseases, as well as for stem cell bone marrow and organ transplants. PROT was formerly known as National Stem Cell Holding, Inc. and changed its name to Proteonomix, Inc. in August 2008. PROT was founded in 2005 and is based in Mountainside, New Jersey.
To learn more about PROT visit: http://www.proteonomix.com
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