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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.