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M2 PRESSWIRE-25 October 2006-bellwetherreport.com: Bellwether Report.com is Looking Under the Microscope at NationsHealth Inc(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:25102006
The Bellwether Report Takes Notice of NationsHealth Inc (Nasdaq:NHRX)
NationsHealth aims to make it easier for Medicare patients to get their prescription drugs and medical supplies. NationsHealth delivers diabetes, ostomy, and other medical supplies to the homes of more than 105,000 patients. In addition, NationsHealth offers diabetes products for Medicare beneficiaries at more than 1,000 Kmart pharmacies. The company has partnered with CIGNA to provide training, enrollment service, distribution, billing, and collections. The collaborative agreement created the CIGNATURE Rx Medicare Part D plan. CEO Glenn Parker and president Lewis Stone together control nearly 65% of the company.
Shares were up 10% after advisement from Nasdaq.
NationsHealth, Inc. announced that on October 13, 2006 it was advised by the Nasdaq Listing Qualifications Department that for at least 10 consecutive trading days, the Company's market value of listed securities was below the minimum $50,000,000 requirement for continued inclusion on The NASDAQ Global Market (formerly The NASDAQ National Market) under Marketplace Rule 4450(b)(1)(A) ("the Rule"). Nasdaq also noted that the Company does not comply with Marketplace Rule 4450(b)(1)(B), which alternatively requires total assets and total revenue of at least $50,000,000 each, for the most recently completed fiscal year or two of the three most recently completed fiscal years.
The Company was provided 30 calendar days, or until November 13, 2006, to regain compliance with the Rule. If at any time before November 13, 2006, the Company's market value of listed securities is $50,000,000 or more for a minimum of 10 consecutive business days, the Nasdaq Staff will re-evaluate if the Company complies with the Rule.