Southland Health Services, a Division of Bad Toys Holdings, Inc., Renews Two Contracts and Expands Its Operations to Include Buchanan County, Virginia
Bad Toys Holdings, Inc. (OTC BB: BTYH) announced today that its Southland Division ("the Company") has been awarded two renewal contracts to be the sole provider ambulance service to Franklin County, Florida, and Winston County, Mississippi. The contracts contain a 1-year option to renew. These contract renewals represent for the Company approximately $1.3 million in unadjusted annual gross revenues and approximately $1 million in annual net revenues, adjusted for uncompensated care and contractual payment agreements.
The Company has also expanded its operation in Virginia to include Buchanan County. Southland was approved for a certificate of need by the County Supervisors for operation of both emergency and non-emergency ambulance service. The Company expects gross revenue to exceed $975,000 per year. The Company currently provides ambulatory services to 31 counties in Mississippi and 6 counties in Alabama, as well as providing services to counties in Florida, Louisiana, Kansas, Tennessee and Virginia.
The Company believes it is uniquely positioned to become one of the leaders in the ambulance and medical transportation industry. The Company anticipates opportunities to grow through acquisitions of existing independent rural service providers where synergies and economies of scale will contribute to increased margins, as well as continuing to expand its current contractual relationships as a low-cost quality service and care provider.
For further information, contact Bad Toys Holdings, Inc., Larry N. Lunan, President and Chief Executive Officer, (423) 247-9560 or Al Kau, Investor Relations in California, at (888) 795-3166. Further information about the Company may be obtained on its website at www.badtoys.net.
Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties including market acceptance of the Company's services and projects and the Company's continued access to capital and other risks and uncertainties outlined in its filings with the Securities and Exchange Commission, which are incorporated herein by reference. The actual results the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.
Source: Market Wire (December 27, 2005 - 8:30 AM EST)
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