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Symbio sale pushed back two weeks

January 29, 2010

The potential sale of Symbio Solutions, which provides a healthcare vendor management system, has been pushed back by about two weeks, CEO Rodney Shifflette said today. The company is now hoping to close a sale by the end of February; original plans were to close a sale by the middle of February.

Symbio filed for Chapter 11 bankruptcy protection earlier this month in a move the company said was aimed at facilitating a sale. Net proceeds of a sale would go to creditors.

Symbio's present owners are Peter Baronoff, chairman of its board, and Howard Koslow, vice chairman of the board of directors, according to court filings. They are also co-owners of Sun Capital, Symbio's senior secured lender, and own 56% of Promise HealthCare, a Symbio customer, according to court filings.