MELVILLE, N.Y., Jan. 27 /PRNewswire-FirstCall/ -- Allion Healthcare, Inc. (the “Company”) , a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients, announced today that in connection with the previously announced resignation of James B. Hoover as a director, Allion Healthcare, Inc. (the “Company”) has received a NASDAQ Staff Deficiency letter dated January 19, 2006 from the NASDAQ confirming that the Company is not in compliance with the continued listing requirements for the NASDAQ National Market System set forth in Marketplace Rule 4350(d)(2).
As the Company has previously reported, that rule requires the Company’s Audit Committee to consist of three independent members, and as a result of Mr. Hoover’s resignation, the Company’s Audit Committee consists of two independent members. Consistent with Marketplace Rule 4350(d)(4), and as confirmed by the NASDAQ letter, the Company has until the earlier of its annual shareholders’ meeting or January 18, 2007 to name a third independent director as a member of the Audit Committee so that the Company regains compliance with the requirements of Rule 4350(d)(2).
The Company today reiterated that the Nominating and Governance Committee of the Company’s Board of Directors will seek to identify a qualified replacement to fill the vacancy created by Mr. Hoover’s resignation. “As we have said previously, while we regret Mr. Hoover’s resignation, we are confident that our board will fill the resulting vacancy well within the timetable required by the NASDAQ rules and that this will not in any way disturb the Company’s continued NASDAQ listing,” said Michael P. Moran, Allion’s Chairman and Chief Executive Officer.
The Company will file a Current Report on Form 8-K later today that includes a copy of the Nasdaq’s letter as an exhibit.
About Allion Healthcare, Inc.
Allion Healthcare, Inc. is a national provider of specialty pharmacy and disease management services focused on HIV/AIDS patients. Allion Healthcare sells HIV/AIDS medications, ancillary drugs and nutritional supplies under the trade name MOMS Pharmacy. Allion offers nationwide pharmacy care from its pharmacies in California, New York, Washington, and Florida. Allion Healthcare works closely with physicians, nurses, clinics, AIDS Service Organizations, and with government and private payors, to improve clinical outcomes and reduce treatment costs for patients.
Safe Harbor Statement
Certain statements included in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent our expectations or beliefs and involve certain risks and uncertainties, including those described in our public filings with the United States Securities and Exchange Commission; also including, but not limited to, competitive pressures, changes in customer mix, changes in third party reimbursement rates, changes in government regulations or the interpretation of these regulations, growth opportunities, cost savings, revenue enhancements, synergies and other benefits anticipated from acquisition transactions, difficulties relative to integrating acquired businesses, the accounting and tax treatment of acquisitions, and asserted and unasserted claims, which could cause actual results to differ from those in the forward- looking statements. The forward-looking statements by their nature involve substantial risks and uncertainties, certain of which are beyond our control, and actual results may differ materially depending on a variety of important factors. You are cautioned not to place undue reliance on these forward- looking statements that speak only as of the date herein.
Contact: Allion Healthcare, Inc. Jim Spencer, Chief Financial Officer (631) 870-5126 The Ruth Group Francesca DeMartino, Investor Relations (646) 536-7024 fdemartino@theruthgroup.com
Allion Healthcare, Inc.
CONTACT: Jim Spencer, Chief Financial Officer of Allion Healthcare, Inc.,+1-631-870-5126, or Francesca DeMartino, Investor Relations of The RuthGroup, +1-646-536-7024, or fdemartino@theruthgroup.com
Web site: http://www.allionhealthcare.com/
