BURLINGTON, Mass. – HealthGate Data Corp., provider and electronic publisher of health care information for health-related organizations, has announced that because of the market price of its common stock, the company has received notice that it is not in compliance with The Nasdaq National Market listing requirements. Nasdaq is allowing HealthGate through May 15, 2002 to regain compliance.
If HealthGate is not in compliance with Nasdaq National Market listing requirements on that date, Nasdaq staff may notify HealthGate of a determination to delist the stock. If an initial delisting decision is made by the staff, HealthGate may appeal the decision as permitted by Nasdaq rules.
Nasdaq also stated that HealthGate may apply to transfer its securities to The Nasdaq SmallCap Market before May 15, 2002 for which a grace period is available through August 13, 2002 to comply with the $1.00 minimum bid price requirement.
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HealthGate will monitor its ability to regain compliance with The Nasdaq National Market listing requirements and will make a determination as to what steps to take as the May 15, 2002 compliance deadline approaches.
