Graymark Healthcare (NASDAQ: GRMH), a diversified medical holding company, announced today that its application for listing of its common stock on the NASDAQ Capital Market has been approved. The company expects to begin trading on the NASDAQ under the symbol GRMH on September 10, 2008.
We are proud to be moving to the NASDAQ and joining the worldÂ™s largest electronic stock market, stated Stanton Nelson, Chief Executive Officer. This is a significant milestone for our company, which we believe will provide Graymark with more exposure to institutional investors by improving the companyÂ™s visibility within the financial community and enhancing trading liquidity.
The company previously reported that its second quarter 2008 net revenue increased 108 percent compared to the second quarter of 2007, and EBITDA improved 126 percent. The companyÂ™s sleep diagnostic segment, comprised of SDC Holdings and Advanced Medical Enterprises, saw an increase of 52 percent in net revenue compared to last yearÂ™s second quarter. The companyÂ™s ApothecaryRx segment, which owns and operates independent retail pharmacies, increased net revenue by 124 percent for the second quarter of 2008. Graymark and its subsidiaries employ approximately 450 people in seven states.
Mr. Nelson continued, We are proud to have added six sleep labs and 10 pharmacies to our portfolio over the past year and our acquisition pipeline remains robust. We plan to take advantage of strategic growth opportunities and will continue to focus on integrating the acquisitions to capitalize on the synergies that we can create. We look forward to updating the investment community on the companyÂ™s progress during our quarterly earnings conference call, which we plan to host in early November.
Graymark Healthcare, Inc. is a diversified medical holding company that owns and operates diagnostic sleep centers that treat a wide range of sleep disorders; independent pharmacies that serve the needs of local markets; and a medical equipment company that provides both disposable and durable medical equipment. Graymark plans to continue its growth both internally and through strategic acquisitions within the medical industry. For more information please visit the companyÂ™s investor relations portion of the website www.graymarkhealthcare.com.
This press release may contain forward-looking statements which are based on the Company’s current expectations, forecasts and assumptions. Forward-looking statements involve risks and uncertainties which could cause actual outcomes and results to differ materially from the Company’s expectations, forecasts and assumptions. These risks and uncertainties include risks and uncertainties not in the control of the Company, including, without limitation, the current economic climate and other risks and uncertainties, including those enumerated and described in the Company’s filings with the Securities and Exchange Commission, which filings are available on the SEC’s website at www.sec.gov. Unless otherwise required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Graymark Healthcare, Inc.
Stanton Nelson or Joe Harroz, 405-601-5300
Halliburton Investor Relations
Jeff Elliott, Deidra Roy or Chase Zavoina, 972-458-8000