SOURCE: eHealth, Inc.
November 12, 2008 08:00 ET
eHealth, Inc. Announces Share Repurchase Program
MOUNTAIN VIEW, CA--(Marketwire - November 12, 2008) - eHealth, Inc. (NASDAQ: EHTH), the leading
online source of health insurance for individuals, families and small
businesses, today announced that its Board of Directors has approved a
stock repurchase program authorizing the Company to purchase up to ten
percent of its currently outstanding shares of common stock or $30 million
in total repurchases, whichever is less.
Purchases under the repurchase program may be made in open market or
unsolicited negotiated transactions and are expected to comply with Rule
10b-18 under the Securities Exchange Act of 1934, as amended. The timing of
purchases and the exact number of shares to be purchased will depend upon
market conditions. The repurchase program does not require the Company to
acquire a specific number of shares, and the repurchase program may be
suspended from time to time or discontinued at any time. The cost of the
shares that are repurchased will be funded from available working capital.
Any shares repurchased under the program will be returned to the status of
authorized but unissued shares of common stock.
About eHealth, Inc.
eHealth, Inc. (NASDAQ: EHTH) is the parent company of eHealthInsurance, the
nation's leading online source of health insurance for individuals,
families and small businesses. Through the company's website,
www.ehealthinsurance.com, consumers can get quotes from leading health
insurance carriers, compare plans side-by-side, and apply for and purchase
health insurance. eHealthInsurance offers thousands of health plans
underwritten by more than 180 of the nation's leading health insurance
companies. eHealthInsurance is licensed to sell health insurance in all 50
states and the District of Columbia. eHealthInsurance and eHealth are
registered trademarks of eHealthInsurance Services, Inc.
Forward-Looking Statements
This press release contains statements that are forward-looking statements
as defined within the Private Securities Litigation Reform Act of 1995.
These include statements regarding the Company's intention to repurchase
its shares in the future. These forward-looking statements speak only as of
the date hereof and are based on information available to us at this time.
Such information is subject to change, and we will not necessarily inform
you of such changes. These statements are not guarantees of future results
and are inherently subject to various risks, uncertainties, and assumptions
that are difficult to predict as stock market conditions change and eHealth
may determine that its cash is better used for other alternatives. Other
risks are described in eHealth's most recent Quarterly Report on Form 10-Q
or Annual Report on Form 10-K filed with the Securities and Exchange
Commission and available on the investor relations page of eHealth's
website at www.ehealthinsurance.com and on the Securities and Exchange
Commission's website at www.sec.gov. eHealth does not undertake any
obligation to update any forward-looking statement to conform the statement
to actual results or changes in expectations.