NEWS -----------
Southern Home Medical Completes Acquisition of Evangeline Medical of Oakdale, Louisiana
SPARTANBURG, S.C., June 12 /PRNewswire-FirstCall/ -- Southern Home Medical Equipment, Inc. (Pink Sheets: SHMM) is pleased to announce that the Company has completed the acquisition of the Oakdale, Louisiana, branch of Evangeline Medical and Nursing Supply, Inc. Evangeline Medical of Oakdale is a medical equipment company that finished 2006 with revenue of over $300,000. Southern Home Medical's three new locations cover a 200 mile service area in South Central Louisiana.
'With the addition of this branch of Evangeline Medical, we are on pace to attain approximately $2.4 million in rolling 12 month revenue. This is a tremendous and exciting time for our Company as we look forward to two additional deals in the works which could add another $2.3 million in annual revenue,' stated Greg Tucker, President of Southern Home Medical Equipment, Inc.
Southern Home Medical recently announced that the Company has completed the acquisition of the Lafayette and Ville Platte, Louisiana, branches of Evangeline Medical and Nursing Supply, Inc.
Mr. Tucker went on to state, 'The revenue numbers that we've discussed are based on our current status and do not reflect any franchising or joint venture activity from our Encore Medical Staffing division. We've begun an aggressive campaign to grow the Encore Medical Staffing division and we're confident that our efforts will yield significant results in the near term.'
About Southern Home Medical Equipment, Inc.:
Southern Home Medical is a holding company with a focus on medical equipment operations in the Southeastern United States. Formed in January 2005, with its principal place of business in Spartanburg, S.C., Southern Home Medical will be expanding its operations through the acquisition of existing durable medical equipment companies and through the start up of additional sites in strategic locations throughout the Southeast. Southern Home Medical provides 'in-home' and nursing home patients with a complete line of medical equipment that includes: oxygen concentrators, semi-electric beds, wheelchairs, CPAPs, BiPAPs, enteral tube feeding, etc. Through its Encore Health & Wellness Division, Southern Home has also moved into additional health, wellness, and fitness related businesses to include Encore Medical Staffing, Inc. and Ladies Health & Fitness, Inc.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
