Statement from NHCStatement from Northstar Healthcare
Toronto, ON and Houston, TX, May 5, 2010 - Northstar Healthcare Inc. (TSX:NHC) today responded to a news release issued earlier today on behalf of Donald L. Kramer, M.D. In the news release Dr. Kramer announced that he intends to make an offer to acquire all of the issued and outstanding common shares of Northstar.
As of this date, Dr. Kramer has not made a formal offer for Northstar. Should one be received from him or from any other party, the company's board will, consistent with its fiduciary duties and in consultation with its financial and legal advisors, review and consider it and respond in the appropriate manner.
Northstar stated that it would not be appropriate to comment at this time on the statements expressed by Dr. Kramer in his news release with respect to the company's operations or the arbitration process.