New York Health Care, Inc. (OTC Pink Sheets: BBAL) announced today that it has entered into an agreement with Messrs. Jerry Braun and Jacob Rosenberg, the Company's CEO and COO, respectively, whereby, the resignations of Messrs. Braun and Rosenberg as officers and directors of the Company will be effective upon the Company's receipt of $4 million in gross cash proceeds from a proposed private placement of the Company's securities. The Company recently announced that it had executed a definitive agreement for the sale of its home healthcare business to a company controlled by Messrs. Braun and Rosenberg, subject to shareholder and regulatory approvals and the satisfaction of certain other conditions.
