GREER, SC - (Marketwired - Dec 16, 2015) - Southern Home Medical, Inc. (OTC PINK: SHOM), a holding company providing healthcare services, staffing and medical equipment to medical institutions, facilities and in-home patients, announced today their intention to pursue merger and/or acquisition targets in the medical industry.
"Our position for growth and acquisition has never been better than right now," stated Jeffrey L. Sarvis, President & CEO of Southern Home Medical, Inc. "We are generating well over one million in annual revenue with little to no debt, other than daily operations, and we are cash flowing nicely. The timing is right for a candidate who is a proven operator and will blend seamlessly with the businesses that we currently operate."
Southern Home Medical owns and operates ApneaRx, a medical equipment provider for both in-home patients and medical facilities. Southern Home Medical also operates a very successful nurse staffing agency branded as Encore Medical Staffing. The company currently has company-owned and franchise locations across the Southeastern United States. The company plans to expand its reach and revenue base even further next year by ramping up the growth of the nurse staffing business.
Mr. Sarvis went on to say, "The ideal merger or acquisition candidate would be a business or businesses that have proven track records, potential for growth, are looking to expand and are scalable. The benefit of operating as a publicly traded company includes the ability to raise funds for expansion. We have been pleased with the expansion and growth of Encore thus far internally, and we're ready to add additional businesses that would offer synergies to our already existing business portfolio."
When pressed, Mr. Sarvis stated, "Yes, we already have a few candidates in mind."
Mr. Sarvis finished up by saying, "We want our investors to know that our share structure will remain intact. We will only increase the number of common or preferred shares of our company with the interest of the business and shareholders in mind. In other words, we are not the type of company that you typically see trading at our level that max out shares for the benefit of management. If you ever see an increase in the shares of Southern Home Medical, you can count on the fact that it was in the best interest of the business and the shareholders…period. This is an exciting and pivotal time in the growth and development of our company and I just want to reassure our shareholders that we will always do what is right on their behalf."
Southern Home Medical, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. The Company provides quality health care professionals and medical equipment to hospitals, rehab centers, nursing homes and other medical facilities. The company currently operates either as a company or franchise business in the following locations: Columbia, SC, Greenville, SC, Charleston, SC, Florence, SC, Myrtle Beach, SC, Nashville, TN, Murfreesboro, TN and Atlanta, GA. SHOM will continue to leverage the success of these businesses in order to expand sales opportunities in other locations throughout the country with health, medical and equipment needs.
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 the 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.
SOURCE Southern Home Medical, Inc.
Southern Home Medical, Inc.