Southern Home Medical Announces Letter of Intent to Merge With Washington, DC-Based Medical Group
May 20 2011 - 3:05PM
Marketwired
Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a holding
company providing healthcare services, staffing and durable medical
equipment to medical institutions, announced today that it has
signed a letter of intent to merge with a network of medical
clinics based in the Washington, DC area.
"The healthcare industry is growing and changing as never
before," says Jerry Overcash, Board Member of Southern Home
Medical. "This has created tremendous opportunities to leverage our
solutions within our geographical footprint to broaden our core
business, increase market penetration and expand our revenue
base."
The letter of intent provides for the parties to complete a
formal due diligence process over the next several weeks. "We
clearly see synergies associated with the merger of the companies
and look forward to moving quickly to the next steps," commented
Jeff Sarvis, President and CEO of Southern Home Medical. Additional
details of the transaction will be released as they become
available.
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
address national shortages in hospitals, rehab centers, nursing
homes and other medical facilities. Personnel are available
24/7/365 and include: 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
of health, medical, staffing and durable medical 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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