N@N

Alegro Announces Stock Options Granted to Directors

^{Published on 2009-07-02 13:01:24, Last Modified on 2009-07-02 13:01:30 - Market Wire}
 

 TORONTO, July 2 /CNW/ - Alegro Health Corp. (TSX-V: AGO), a provider of medical, rehabilitation and disability management services, today announced stock options granted to Dr. Martin Barkin, Chairman of the Board since October 2008, as well as Mr. Tom Magyarody and Mr. Bob Wardell who both joined the Board of Directors as of the Company's recent Annual Meeting on June 25, 2009. Pursuant to Company policy of annually awarding 25,000 options to continuing directors and 100,000 options to new directors, Alegro granted 25,000 stock options to Dr. Barkin, 100,000 stock options to Mr. Magyarody and 100,000 stock options to Mr. Wardell. All options were granted on June 25, 2009 and were issued at an exercise price of $0.31. All options shall vest and be exercisable during the following exercise periods: - 25% of options shall vest on June 25, 2010 and shall be exercisable from and after such date until June 25, 2014; - 25% of options shall vest on June 25, 2011 and shall be exercisable from and after such date until June 25, 2014; - 25% of options shall vest on June 25, 2012 and shall be exercisable from and after such date until June 25, 2014; and - 25% of options shall vest on June 25, 2013 and shall be exercisable from and after such date until June 25, 2014. About Alegro Health Corp. Alegro Health Corp. is a leading healthcare services company providing select quality services through its Disability & Rehabilitation Management and Surgical/Hospital Services divisions. Alegro is addressing the growing demand for enhanced insured and uninsured healthcare services, as well as delivering additional resources to Canadian public healthcare services through government outsourcing. With superior knowledge of the healthcare industry, extensive and trusted relationships with payers, physicians, and government agencies, Alegro is pursuing a vertically integrated approach and an aggressive acquisition strategy to achieve its growth objectives. Alegro is listed on the TSX Venture Exchange under the symbol AGO. For further information, please visit[ www.alegrohealth.com ]. This press release contains statements that may constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation. These forward-looking statements include, among others, statements regarding business strategy, plans and other expectations, beliefs, goals, objectives, information and statements about possible future events. Specific forward-looking statements contained in this press release include statements regarding Alegro's proposed acquisition of Active Health, the completion of the acquisition and the outcome of the acquisition, as well as statements regarding transaction values, accretion, and ownership levels resulting from the completion of the proposed acquisition. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-looking statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and in some instances to differ materially from those anticipated by Alegro and Active Health and described in the forward-looking statements contained in this press release. Among the various factors that could cause results to vary materially from those indicated in the forward-looking statements include failure to realize anticipated synergies and the result of the review of the proposed acquisition by regulatory authorities. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits Alegro will derive there from. This release was prepared by management of the Company who takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. %SEDAR: 00016656E 

For further information: Peter Walkey, Chief Financial Officer, Alegro Health, (416) 927-8400 ext. 309, [ pwalkey@alegrohealth.com ]; Michael Moore, Investor Relations, Equicom Group, (416) 815-0700 ext. 241, [ mmoore@equicomgroup.com ]