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Southern Home Medical to Merge With Washington, DC-Based Medical Group
Posted May 22, 2011
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LYMAN, SC -- Southern Home Medical Equipment, Inc. (PINKSHEETS: SHOM), a holding company providing healthcare services, staffing and durable medical equipment to medical institutions, announced today that it has signed a letter of intent to merge with a network of medical clinics based in the Washington, DC area.
"The healthcare industry is growing and changing as never before," says Jerry Overcash, Board Member of Southern Home Medical. "This has created tremendous opportunities to leverage our solutions within our geographical footprint to broaden our core business, increase market penetration and expand our revenue base."
The letter of intent provides for the parties to complete a formal due diligence process over the next several weeks. "We clearly see synergies associated with the merger of the companies and look forward to moving quickly to the next steps," commented Jeff Sarvis, President and CEO of Southern Home Medical. Additional details of the transaction will be released as they become available.
About Southern Home Medical Equipment, Inc.
Southern Home Medical Equipment, Inc. is a holding company with a focus on servicing the needs of the U.S. healthcare industry. The Company has quality health care professionals to address national shortages in hospitals, rehab centers, nursing homes and other medical facilities. Personnel are available 24/7/365 and include: RN's, LPN's, CNA's, RT's, billing specialists, customer service specialists, delivery techs and marketing reps. The Company has contractual agreements with partner businesses located in Charleston, Columbia, Greenville, Florence and Lake Hartwell, of South Carolina; Nashville, Tennessee; Baltimore, Maryland; Dunwoody, Georgia; and Philadelphia, Pennsylvania. Southern Home Medical is leveraging the success of these business models to expand sales opportunities in these areas of health, medical, staffing and durable medical equipment needs. For more information, visit www.southernhomemedical.com.
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