Daily News

View All News

Southern Home Medical Announces Merger

May 23 2011

Southern Home Medical Equipment Inc. (OTCBB: SHOM.PK) reported Friday it signed a letter of intent to merge with a network of medical clinics based in the Washington, D.C. area. Southern Home Medical is a holding company serving the healthcare industry, and its business includes franchising Encore Medical Staffing operations.

If the merger takes place, Southern Medical estimates first-year combined revenue would be about $7 million. The company posted revenue of $930,655 in 2010.

The parties will complete a formal due diligence process over the next several weeks. “The compatibility of our collective solutions and the companies’ cultural match make this a quite promising venture,” said Jeff Sarvis, president and CEO of Southern Home Medical.


Add New Comment

Post comment

NOTE: Links will not be clickable.
Security text:*