Postgraduate Healthcare Education (PHE)
PHE provides educational services under two of the most respected brands in education, Power-Pak C.E. and US Pharmacist, making PHE the #1 provider of CE for pharmacists.
JHI
Jobson Announces Amendment and Extension of Credit Facility
February 2, 2012
NEW YORK, NY (Thursday, February 2, 2012) — Jobson Medical Information Holdings LLC (JMIH) and its affiliated subsidiaries (collectively, the "Company") announced today that it has reached an agreement with a majority of its lenders to amend and extend its credit facility and strengthen its balance sheet.
Jeff MacDonald, Chief Executive Officer, said: "This credit agreement will provide us with the flexibility needed to continue our growth. JMIH is a very strong and profitable business and will continue to operate at the same high level of quality and reliability to which our customers, vendors and employees have become accustomed."
The Company is implementing the credit amendment through a "pre-packaged" Chapter 11 plan that has already been approved by the requisite number of lenders and was filed in New York earlier today. "We are delighted to have the support of the majority of our lenders and the ability to use this fast-track process to implement our balance sheet improvement," added MacDonald.
The Company expects to complete the process and emerge from the pre-packaged Chapter 11 in approximately 30 to 40 days.
About JMIH
JMIH is a premier healthcare information, communication and education provider, with leading positions in a variety of healthcare segments such as eye care, pharmacy, clinician (physicians, nurse practitioners and physician assistants) and the managed markets (managed care, eldercare, hospitals, government and employer groups). JMIH owns a portfolio of trusted, well-recognized brands that are entrenched leaders in their respective industry segments. Through its diversified, multi-media portfolio of communication services, information databases, journals, live events, and internet based media services, JMIH is uniquely positioned to reach, educate and inform approximately one million healthcare professionals. Media Contact: Derek Winston dwinston@jhihealth.com.
Forward-Looking Statements
This press release includes "forward looking statements" as defined by the Securities and Exchange Commission (the "SEC"). Forward-looking statements include all statements that do not relate solely to historical or current facts. These forward-looking statements are based on the current plans and expectations of our management and are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated. These factors include, but are not limited to: economic conditions affecting the human capital solutions industry; the adverse effect of legislation and other matters affecting the industry; increased competition in the industry; our dependence on certain customers; the risk that we may not be able to retain and attract customers; the availability of and costs associated with potential sources of financing; the loss of key personnel; our inability to attract and retain new qualified personnel; difficulties associated with integrating acquired businesses and customers into our operations; material deviations from expected future workers' compensation claims experience; collectibility of accounts receivable; the carrying values of deferred income tax assets and goodwill, which may be affected by future operating results; the availability of capital or letters of credit necessary to meet state-mandated surety deposit requirements; and government regulation.
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Privacy Policy
To assure full compliance with the regulations and ethical codes promulgated by the agencies and organizations who govern continuing medical education, the continuing education companies under the JHI company umbrella report directly to the JHI parent company (the JHI parent company is the holding company, and the CME companies report to JHI) and are distinct and separate from the other JHI companies that provide commercial or other company-directed activities or services for pharmaceutical companies, medical device manufacturers, nutraceutical or herbal supplement companies.