Daily News

View All News

Crdentia announces second acquisition

October 30 2007

Crdentia Corp. (OTCBB: CRDT) announced a second acquisition today. The Dallas-based healthcare staffing company said it is buying Medical People Healthcare Services Inc., of Birmingham AL, for $750,000 in cash and $500,000 in a three-year note. The deal is expected to close in the next two weeks.

Medical People provides temporary nurse and other healthcare professionals with approximately 65% of its revenue from nursing homes.

"As part of our overall expansion strategy that focuses on the Sun Belt region of the United States, this is a valuable acquisition that triples our business in Alabama, adds many new customers without any contract overlaps, and increases Crdentia's overall projected revenue by 10%, after including the company's recent acquisition of ATS Health Services," said CEO John Kaiser.

On Monday, Crdentia said it was buying Jacksonville FL-based ATS Health Services, a provider of nurses and allied health personnel. In that deal, Crdentia will pay $3.3 million in cash and provide 2.1 million shares valued at $700,000. ATS provides nurses and allied health personnel for hospitals, clinics, home-care, and other sites. It has six offices in Florida, one in Georgia, and one in North Carolina.


Add New Comment

Post comment

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