Allied Healthcare Int. Secures Contract Win
September 15 2009 - 9:27AM
RNS Non-Regulatory
TIDMAHI
Allied Healthcare International Inc
15 September 2009
?
Allied Healthcare International Inc. Secures Contract Win With London Borough of
Redbridge Council
Expands Coverage in London Region With Three-Year Contract Award With Council
NEW YORK, NY--(Marketwire - September 15, 2009) - Allied Healthcare
International Inc. (NASDAQ: AHCI) (AIM: AHI) (http://www.alliedhealthcare.com),
a leading provider of flexible healthcare staffing services in the United
Kingdom, has secured a three-year contract with the London Borough of Redbridge
Council in the United Kingdom.
Under the new Redbridge contract, Allied has the opportunity to deliver up to
one thousand four-hundred hours of home care services a week (72,800 hours a
year) as one of six providers within Redbridge, a borough of London with a
population of 250,000. This award, which was secured in August 2009, is Allied's
first contract with Redbridge and is currently in its implementation stage in
preparation for the contract start in November 2009. Allied will use its London
East branch to service the contract.
Sandy Young, Chief Executive Officer of Allied, commented: "We continue to see
strong organic growth in our homecare services business and the Redbridge
contract is representative of that. Penetrating the London market has been one
of our objectives and we are making good progress securing long-term contract
wins in the region. Leveraging the London East branch will provide efficiencies
to our SG&A by increasing throughput to the office. We reported strong growth in
the homecare services business this year and we expect to see this trend
continue with new contract wins similar to Redbridge. I look forward to
continuing this momentum and updating our shareholders as we move ahead."
For more news and information on Allied Healthcare International Inc., please
visit http://www.IRGnews.com/coi/AHCI where you can find the CEO's video, a fact
sheet on the company, investor presentations, and more.
ABOUT ALLIED HEALTHCARE INTERNATIONAL INC.
Allied Healthcare International Inc. (http://www.alliedhealthcare.com) is a
leading provider of flexible healthcare staffing services in the United Kingdom.
Allied operates a community-based network of 110 branches with the capacity to
provide carers (known as home health aides in the U.S.), nurses, and specialized
medical personnel to locations covering approximately 90% of the U.K.
population. Allied meets the needs of private patients, community care, nursing
and care homes, and hospitals.
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release may be forward-looking
statements. These forward-looking statements are based on current expectations
and projections about future events. Actual results could differ materially from
those discussed in, or implied by, these forward-looking statements. Factors
that could cause actual results to differ from those implied by the
forward-looking statements include: general economic and market conditions;
Allied's ability to continue to recruit and retain flexible healthcare staff;
Allied's ability to enter into contracts with local government social services
departments, NHS Trusts, hospitals and other healthcare facility clients on
terms attractive to Allied; the general level of patient occupancy at our
clients' hospitals and healthcare facilities; dependence on the proper
functioning of Allied's information systems; the effect of existing or future
government regulation of the healthcare industry, and Allied's ability to comply
with these regulations; the impact of medical malpractice and other claims
asserted against Allied; the effect of regulatory change that may apply to
Allied and that may increase costs and reduce revenues and profitability;
Allied's ability to use net operating loss carry forwards to offset net income;
the effect that fluctuations in foreign currency exchange rates may have on our
dollar-denominated results of operations; and the impairment of goodwill, of
which Allied has a substantial amount on the balance sheet, may have the effect
of decreasing earnings or increasing losses. Other factors that could cause
actual results to differ from those implied by the forward-looking statements in
this press release include those described in Allied's most recently filed SEC
documents, such as its most recent annual report on Form 10-K, all quarterly
reports on Form 10-Q and any current reports on Form 8-K filed since the date of
the last Form 10-K. Allied undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new information, future
events, or otherwise.
CONTACT
Allied Healthcare International Inc.
Sandy Young
Chief Executive Officer
Paul Weston
Chief Financial Officer
UK 00-44-1785 810-600
or
The Investor Relations Group
Adam Holdsworth
212-825-3210
or
Cenkos Securities plc (Nominated Advisor)
Elizabeth Bowman
London: 00-44-20-7397-8928
or
Ian Soanes
London: 00-44-20-7397-8924
This information is provided by RNS
The company news service from the London Stock Exchange
END
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