EATONTOWN, N.J., May 15 /PRNewswire-FirstCall/ -- QMed, Inc., (Nasdaq: QMED - News) announced today that despite a lengthy and thorough search to find a strategic alternative or sale of the company with the assistance of its financial advisors, the Company was not successful in its efforts and will discontinue its operations in June 2008 and wind up its business.
Management believes it is not likely that there will be funds for Shareholder distribution.
About QMed, Inc.
QMed has developed evidence-based clinical information management systems for use by health plan customers. The QMed systems incorporate Disease Management services to patients and decision support to physicians. The Company's subsidiaries have specialized in serving high-risk populations of Medicare beneficiaries.
Except for historical information contained herein, matters discussed in this news release are forward-looking statements that involve risks and uncertainties. They include but are not limited to those relating to the timely implementation of programs, the impact of business and operational conditions, competitive product introductions, acceptance and pricing, and those risks detailed in the Company's filings with the Securities and Exchange Commission (SEC). Actual results may differ materially from any forward-looking statements due to these risks and uncertainties.
Contact: William Schmitt - QMed, Inc. - 732-544-5544 x1112
Source: QMed, Inc.