Server: Microsoft-IIS/3.0 Date: Thu, 18 Dec 1997 19:10:13 GMT Content-Type: text/html Accept-Ranges: bytes Last-Modified: Thu, 18 Dec 1997 17:52:06 GMT Content-Length: 5720
US Diagnostic Inc.
FOR IMMEDIATE RELEASE
Dr. Richey and Mr. Hartley succeed Laurans A. Mendelson who announced his resignation as Chairman and a Director of US Diagnostic Inc. due to extensive time constraints required in connection with his responsibilities as Chairman, President, and Chief Executive Officer at HEICO Corporation (AMEX: HEI). Mr. Mendelson stated, "When I initially accepted US Diagnostics Boards request to become Chairman, it was with the understanding that this would be on an interim and temporary basis. I now feel that the necessary changes and remedial actions have been accomplished, including the settlement of the shareholder lawsuits, settlement of the Nasdaq listing review, the establishment of a strong corporate governance, as well as the addition of senior management that will enable the Company to begin its rebuilding process and move forward on a successful path. I am very confident of both Dr. Richeys and Mr. Hartleys abilities to lead and guide US Diagnostic into a new year."
According to Dr. Richey, "I am honored to be named as a new Co-Chairman of the Board of US Diagnostic Inc. We have gone through a very difficult and trying period this year and are now well on the road to recovery with outstanding personnel and infrastructure necessary for us to regain our momentum. I am very excited at the prospect of working with our senior management team and we will endeavor to return to an acquisition program and strong growth pattern. I look forward to working closely with Keith Hartley, as Co-Chairman, and the other Board members to bring US Diagnostic back to profitability."
Mr. Hartley added, "As a Director of US Diagnostic Inc. for over a year, I have been committed to working closely with the Board and senior management to help the Company through the difficult issues we have faced. As we approach 1998, I am excited by the prospects facing us and will continue to work even harder as Co-Chairman to bring about renewed strength and growth at US Diagnostic."
Statements contained in this press release, which are not historical facts, are forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on the Companys expectations and are subject to a number of risks and uncertainties, including but not limited to economic, competitive and other factors affecting the Companys operations, markets, expansion strategies, available financing, government regulations involving the Company, and other factors discussed in the Companys filings with the Securities and Exchange Commission. Specific operating risks may include, in addition to others, those associated with the acquisition of existing imaging centers, management of growth, limitations and delays in reimbursement and government regulation effects. Many of these factors are beyond the Companys control. Actual results could differ materially from the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements in this press release will, in fact, occur.
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