ONMH .175 April 15:
Omni Medical Holdings Announces Closing Date For Acquisition
Wednesday April 6, 10:50 am ET
RAPID CITY, S.D.--(BUSINESS WIRE)--April 6, 2005--Omni Medical Holdings, Inc. (OTCBB:ONMH - News) has finalized terms and a closing date for its latest acquisition. Omni is scheduled to close with a medical service company, located in the Midwest, on April 15.
The target company produced unaudited revenue in calendar 2004 of over $3.5 million and positive cash flow of $800,000. With forward twelve month revenue projected at over $5 million, Omni Medical's consolidated revenue for the forward twelve month period is projected to be approximately $9 million with EBITA of $1.5 million.
General purchase terms consist of 5 million restricted shares of Omni Medical, a two year revenue bonus and a consulting contract to the seller. Complete details of the transaction will be included on Form 8-K in accordance with filing requirements.
Omni Medical Holdings, Inc. provides medical billing and transcription services to medical practitioners throughout the United States through its wholly owned subsidiary, Omni Medical Services, Inc. Omni is aggressively seeking out new acquisitions that are compatible with its desired intent to expand and become a national leader.
This press release may include 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. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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Contact:
Omni Medical Holdings, Inc., Rapid City
Arthur Lyons, 605-718-0380
www.omnimedical.com
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Source: Omni Medical Holdings, Inc.