Hasco Medical Incorporated (fka HASC)

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HASC News Great news!

Shareholder Update for the First Half of 2013

Addison, TX, August 20, 2013 – (Accesswire) – HASCO Medical, Inc. (HASC), www.HascoMed.com, a Company that conducts sales of handicap accessible vans, parts, service and rental operations in sixteen locations from Maine to Florida and sales of medical equipment and supplies in Florida announced today their update on various items during the first six months of 2013.

- HASCO Medical, Inc.’s net revenues increased roughly $5.5 million over the first six months versus the same six months for last year.

- New initiatives on our inventory have really improved over the last six months. HASCO’s quality of aged inventory has reduced significantly. This change has increased our inventory turns 20%-25% and reduced our interest expense.

- We are pleased to announce the launch of www.WeDeliverFreedom.com as an innovative resource for people needing wheelchair accessible transportation. The website serves several purposes all designed to make getting mobility products even easier with links to wheelchair van rentals, financing, and our new innovative crowdfunding platform. Hasco Medical is the first in the mobility industry to leverage the power of crowdfunding successes like Kickstarter[TM] and Indiegogo[TM] into a means for more people to get the financial assistance they need to afford wheelchair accessible transportation. WeDeliverFreedom.com directly connects people in need with those willing to help fund their purchase using the crowdfunding platform from RocketHub[TM].

- With the addition of Rick Fountain as Vice President of Service, the company is continuing to implement new policies and procedures in our service departments. These changes should improve our margins, reduce our parts shrink and improve safety for our service technicians.

- The Auto Mobility acquisition has continued to move forward and has finished final audit. We are pushing to still close the deal by Sept. 1st, 2013 if all possible. We will be releasing all the pertinent information as soon as the deal is closed.

- HASCO Medical has finalized the liquidation and closure of Southern Medical and Mobility, Inc. This move should help improve the overall G&A of the company. This business was no longer in alignment with our go forward strategy in the auto division.

“We continue to find ways to grow the company while still sticking to our original concept which is consolidating the industry. As we continue to move forward we will look for a few things, synergies to help us be more profitable, the right team members to help us grow and service our customers and finally to make as many people aware of what we do as humanly possible,” states Hal Compton CEO of HASCO Medical, Inc.

About HASCO Medical, Inc.
HASCO Medical (www.HascoMed.com) provides products and services that dramatically improve the quality of living for its customers. The Company consists of Ride-Away (www.Ride-Away.com), Mobility Freedom (www.MobilityFreedom.com) and Wheelchair Vans of America (www.wcvans.com) on the Van Conversion/Rental side of the company and Southern Medical and Mobility, Inc. (discontinued operation) and Certified Medical on the durable medical equipment side.