CCS Medical to Pursue Plan of Reorganization; Hearing for Plan Approval Scheduled with the United States Bankruptcy Court
Published: Feb 17, 2010
CLEARWATER, Fla., Feb. 16 /PRNewswire/ -- CCS Medical, Inc. a leading provider of medical supplies, today announced that it will pursue the Plan of Reorganization, dated as of February 9, 2010 (as may be amended, modified, and /or supplemented, the "Plan"). A hearing to consider approval of the Plan has been scheduled for March 11, 2010 with the United States Bankruptcy Court for the District of Delaware (the "Court").
John Miclot, Chief Executive Officer of CCS Medical, said, "Based on the results of the sales and marketing process, we believe that the Plan represents the greatest value for our Company and our creditors. Reaching a determination as to the value of the Company provides increased certainty for our path forward."
Mr. Miclot added, "We continue to experience high demand for our products and services, and we remain focused on serving our customers. We look forward to the Court's approval of the Plan and a timely emergence from our reorganization process, so that we can continue to pursue our strategic objectives. I would like to thank our talented employees for their hard work and dedication throughout this process."
As a leader in the medical supply community, CCS Medical has a commitment to the mission statement of being the leading provider of products and services to the home chronic care marketplace.
This press release contains certain forward looking statements about our financial condition, operations, business strategies, objectives, future business and financing requirements. It also contains other forward looking statements about our expectations, beliefs, future plans, anticipated developments and other matters that are not historical facts concerning our business, operations and financial performance and condition. These statements are based upon management's current expectations and beliefs and are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward looking statements. These risks and uncertainties include market conditions and other factors beyond the Company's control.
CCS Medical, Inc.