Conmed Healthcare Management, Inc. Receives Approval to List on the NYSE Amex Market

Mon Jul 13, 2009 3:39pm EDT
 
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Common Stock Will Trade Under Ticker, CONM, Beginning On July 15, 2009
HANOVER, Md.--(Business Wire)--
Conmed Healthcare Management, Inc., a leading full service provider of
correctional facility healthcare services to county detention centers, today
announced that the company`s application for listing its common stock on The
NYSE Amex market has been approved. The company`s stock will begin trading under
the stock symbol, CONM, when the NYSE Amex opens on July 15, 2009, and will be
the first listing on the exchange to use a four letter trading symbol.
Management of the company has accepted an invitation to participate in the
ceremonial ringing of the NYSE opening bell to commemorate the event. 

Dr. Richard W. Turner, Chairman of the Board and Chief Executive Officer of
Conmed, commented, "Our listing on the NYSE Amex marks the achievement of
another planned milestone in Conmed`s transformation to a publicly-traded
company. Consistent with our growth strategy, we expect the listing will enhance
Conmed`s visibility with the investment community and our customer base, and
increase the liquidity for our shares of common stock in the capital markets. We
are extremely pleased to be a part of the NYSE Amex and affirm our steadfast
commitment to creating value for our shareholders." 

"We welcome Conmed Healthcare Management to the NYSE Euronext family of listed
companies and to NYSE Amex," said Scott Culter, NYSE Euronext Executive Vice
President and Head of Listings, Americas. "Conmed Healthcare Management and the
company`s shareholders will benefit from superior market quality and technology,
a broad array of issuer and investor services, and global brand association. We
look forward to building a strong and lasting partnership with the Conmed Health
Management team and their shareholders." 

Conmed`s Board of Directors approved the decision to submit an application to
list the company`s common stock on the NYSE Amex. Prior to this move, the
company`s stock was traded on the OTC Bulletin Board under the stock symbol,
CMHM. The Company has selected Brendan E. Cryan & Company, LLC as its market
maker for trading its common stock. 

About NYSE Amex

NYSE Amex, formed by NYSE Euronext`s acquisition of the former American Stock
Exchange last year, is the premiere U.S. equities market for listing and trading
small and mid-cap growth companies. The NYSE Amex platform offers its listed
companies price discovery, liquidity and reduced trading volatility beyond the
capabilities of markets that are solely electronic. NYSE Amex-listed companies
benefit from issuer-selected Designated Market Makers who utilize world-class
NYSE trading and surveillance systems. 

About Conmed

Conmed has provided correctional healthcare services since 1984, beginning in
the State of Maryland, and currently serves county and municipal correctional
facilities in thirty-six counties in seven states, including Arizona, Kansas,
Maryland, Oklahoma, Oregon, Virginia and Washington. Conmed's services have
expanded to include mental health, pharmacy and out-of-facility healthcare
services. 

Forward Looking Statements

This press release may contain, among other things, certain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995, including, without limitation, (i) statements with respect to the
Company's plans, objectives, expectations and intentions; and (ii) other
statements that are not historical facts including statements which may be
identified by words such as "may," "could," "would," "should," "believes,"
"expects," "anticipates," "estimates," "intends," "plans," "projects,"
"potentially" or similar expressions. These statements are based upon the
current beliefs and expectations of the Company's management and are subject to
significant risks and uncertainties. Actual results may differ from those set
forth in the forward-looking statements. These forward-looking statements
involve certain risks and uncertainties that are subject to change based on
various factors (many of which are beyond the Company's control) including,
without limitation, the Company's ability to increase revenue and to continue to
obtain new contracts, contract renewals and extensions.; the ability to obtain
bonds; decreases in occupancy levels or disturbances at detention centers;
malpractice litigation; the ability to utilize third party administrators for
out-of-facility care; compliance with laws and government regulations, including
those relating to healthcare; competition; termination of contracts due to lack
of government appropriations; material adverse changes in economic and industry
conditions in the healthcare market; negative publicity regarding the provision
of correctional healthcare services; dependence on key personnel and the ability
to hire skilled personnel; increases in healthcare costs; insurance; completion
and integration of future acquisitions; public company obligations; and stock
price volatility. More detailed information about the Company and the risk
factors that may affect the realization of forward-looking statements is set
forth in the Company`s filings with the Securities and Exchange Commission,
including the Company`s Annual Report on Form 10-K filed with the SEC for the
fiscal year ended December 31, 2008. Investors and security holders are urged to
read this document free of charge on the SEC's web site at www.sec.gov. The
Company does not undertake to publicly update or revise its forward-looking
statements as a result of new information, future events or otherwise. 





Conmed Healthcare Management, Inc.
Thomas W. Fry, 410-567-5529
Chief Financial Officer
tfry@conmed-inc.com
or
Hayden IR
Peter Seltzberg, 212-946-2849
peter@haydenir.com

Copyright Business Wire 2009

 

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