CRDENTIA CORP. (CRDT)

[QualityStocks]

CRDT Acquires a Leading Provider of Temporary Nursing and Allied Health Staff

Crdentia announced before the morning bell that it has completed the acquisition of Medical People Healthcare Services, Inc. The company is a leading provider of temporary nursing and allied health staff to nursing homes, hospitals and other healthcare amenities in the state of Alabama.

Approximately 65% of Medical’s revenues come from healthcare staffing in the nursing home segment, while the remaining revenues generate from services to local hospitals and other healthcare facilities. The acquisition is anticipated to be accretive to Crdentia without delay.

John Kaiser, CEO of Crdentia stated, “I am very pleased that we have completed the acquisition of the assets of Medical People Healthcare Services, Inc. and I look forward to working with the entire staff of MPHS and to continue to see consistent growth for our combined Company as we layer in services in all segments of the healthcare staffing market. Integration of the acquisition has now begun in earnest.”

He continued, “Alabama is a key market in solidifying our growing presence in the Sun Belt markets, and the completion of the acquisition of MPHS, along with the recent addition of eight other offices in Georgia, North Carolina and throughout Florida, firmly entrenches Crdentia in this important market. Furthermore, this expansion allows Crdentia to continue to leverage its corporate infrastructure leading to more profitable overall operations.”