Southern Home Medical Projects $7 Million in Annual Revenue Post Merger With Washington, DC-Based Medical Group
May 23 2011 - 10:00AM
Marketwired
Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a holding
company providing healthcare services, staffing and durable medical
equipment to medical institutions, has previously announced the
intent to merge with a network of medical clinics based in the
Washington, DC area. Today, Southern Home Medical projected first
operating year's revenues for the combined entity of $7 million.
"The synergies from this merger are substantial," says Jerry
Overcash, Board Member at Southern Home Medical. "The companies
will leverage each others' solutions and infrastructure to drive
incremental revenue and reduce operating costs. The fact that the
companies are currently operating in the same geographical
footprint is an added advantage."
The parties will complete a formal due diligence process over
the next several weeks. "The compatibility of our collective
solutions and the companies' cultural match make this a quite
promising venture," according to Jeff Sarvis, President and CEO of
Southern Home Medical.
About Southern Home Medical Equipment,
Inc. Southern Home Medical Equipment, Inc. is a holding
company with a focus on servicing the needs of the U.S. healthcare
industry. The Company has quality health care professionals to
support hospitals, rehab centers, nursing homes and other medical
facilities providing RN's, LPN's, CNA's, RT's, billing specialists,
customer service specialists, delivery techs and marketing reps.
The Company has contractual agreements with partner businesses
located in Charleston, Columbia, Greenville, Florence and Lake
Hartwell, of South Carolina; Nashville, Tennessee; Baltimore,
Maryland; Dunwoody, Georgia; and Philadelphia, Pennsylvania.
Southern Home Medical is leveraging the success of these business
models to expand sales opportunities in these areas with health,
medical, staffing and equipment needs. For more information, visit
www.southernhomemedical.com.
The statements in the press release that relate to the Company's
expectations with regard to the future impact on the Company's
results from acquisitions or actions in development are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The statements in this
document may also contain "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. When used in this press
release, the words "anticipate," "believe," "estimate," "may,"
"intend," "expect" and similar expressions identify such
forward-looking statements. Forward-looking statements are subject
to risks, uncertainties, and other factors that could cause actual
results to differ materially from those contained in such
statements. Such risks, uncertainties, and factors include, but are
not limited to, future capital needs, changes, and delays in
product development plans and schedules, or market acceptance.
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Contact: Henry Harrison IR Pro 2.0 407-682-2001 Email Contact
www.irprpro.com www.healthcarestock.net
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