Healthcare Staffing Report: Sept. 18, 2014

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Firm buys back franchise sites in five markets

Southern Home Medical Inc. (OTC MARKET: SHOM) repurchased Encore Medical Staffing franchise operations in five markets in South Carolina and Tennessee. The markets include Florence, Columbia, and Charleston, S.C; and Nashville and Murfreesboro, Tenn.

Terms included cash and stock, and the transaction closed July 31.

The buyback of these offices is a critical stage in the expansion of Southern Home Medical’s product mix and corporate revenues, according to the company.

“We are pleased with our acquisitions to date but more are close at hand,” said Southern Home Medical President and CEO Jeff Sarvis. “With our solid business plan moving forward, this is good news for our shareholders. This will create a more competitive business that allows us to expand our services to new clients, continue to build our culture of excellence and strengthen our marketing efforts.”