Crdentia Signs Definitive Agreement to Acquire Medical People Healthcare Services, Inc.
30 Ottobre 2007 - 1:00PM
PR Newswire (US)
Company Further Penetrates Sun Belt Market Bringing Companywide
Total to 21 Offices; Expands Revenue Base by 10% DALLAS, Oct. 30
/PRNewswire-FirstCall/ -- Crdentia Corp. (OTC:CRDT) (BULLETIN
BOARD: CRDT) , a leading healthcare staffing company, announced
today that it has signed a definitive agreement to acquire Medical
People Healthcare Services (MPHS) Inc., a leading provider of
temporary nursing and allied health staff to nursing homes,
hospitals and other healthcare facilities in the Alabama market.
Approximately 65% of MPHS's revenues are from healthcare staffing
in the nursing home segment, with the remaining revenues from
services to local hospitals and other healthcare facilities. Terms
of the acquisition include $750,000 in cash and $500,000 in a
3-year note payable. Crdentia expects this acquisition to close in
the next two weeks. The acquisition is expected to be immediately
accretive to Crdentia. Crdentia believes that this acquisition will
augment the services Crdentia currently offers in Alabama with a
strong presence in nursing home staffing -- bringing Crdentia
closer to becoming a one-stop-shop for healthcare staffing needs.
Amy Disney from MPHS has joined Crdentia's senior management team
and will be responsible for overseeing the acquired operations.
Integration of the acquisition will begin upon closure. "I am very
pleased to announce Crdentia's acquisition of Medical People
Healthcare Services, Inc.," said Crdentia's Chief Executive Officer
John Kaiser. "The Company is a successful and reputable brand with
a strong presence in the Alabama market. As part of our overall
expansion strategy that focuses on the Sun Belt region of the
United States, this is a valuable acquisition that triples our
business in Alabama, adds many new customers without any contract
overlaps, and increases Crdentia's overall projected revenue by
10%, after including the Company's recent acquisition of ATS Health
Services. In addition, Crdentia will add substantial experience to
its management team with the addition of Amy Disney who has over
twenty years of executive level experience in the healthcare
staffing industry. With this accretive strategic acquisition,
Crdentia moves closer to our goal of being a major medical staffing
company in the Sun Belt and one of the largest healthcare staffing
companies in the country." About Crdentia Corp. Crdentia Corp., one
of the nation's leading providers of healthcare staffing solutions,
is focused on recruiting talented national and international
healthcare professionals to meet the ever-increasing employment
needs of over 1,500 clients. Crdentia is one of the few companies
that can provide quality temporary staff for all healthcare
industry positions including local nurses, travel nurses, allied
health and locum tenens professionals. For more information, visit
http://www.crdentia.com/. Forward Looking Statements Statements
contained in this release that are not historical facts are
forward-looking statements that involve risks and uncertainties.
Among the important factors which could cause actual results to
differ materially from those in the forward-looking statements
include, but are not limited to, those discussed in "Risk Factors"
in the Company's Forms 10-K, Forms 10-Q, and other filings with the
Securities and Exchange Commission. Such risk factors include, but
are not limited to, a limited operating history with no earnings;
reliance on the Company's management team, members of which have
other business interests; the ability to successfully implement the
Company's business plan; the ability to continue as a going
concern; the ability to fund the Company's business and acquisition
strategy; the growth of the temporary healthcare professional
staffing business; difficulty in managing operations of acquired
businesses; uncertainty in government regulation of the healthcare
industry; and the limited public market for the Company's common
stock. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks
and uncertainties. We undertake no obligation to revise or update
publicly any forward-looking statements for any reason. Contact
Crdentia Corp. John Kaiser, CEO Phone: 972.850.0780 Fax:
972.392.2722 Jim TerBeest, CFO Phone: 972.850.0780 Fax:
972.392.2722 DATASOURCE: Crdentia Corp. CONTACT: John Kaiser, CEO,
, or Jim TerBeest, CFO, , both of Crdentia Corp., +1-972-850-0780,
or fax, +1-972-392-2722 Web site: http://www.crdentia.com/
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