HHII Signs LOI to Acquire Medicare-Certified Home Health Agency in the Florida Market
(firmenpresse) - VERO BEACH, FL -- (Marketwire) -- 04/16/12 -- Home Health International, Inc. (PINKSHEETS: HHII) announced today that it has entered into a letter of intent to acquire Mount Auburn, Inc. dba Associated Home Health, a Medicare-certified Home Health Agency based in Florida.
Mount Auburn is primarily engaged in providing skilled nursing services and other therapeutic services, such as physical therapy, speech-language pathology services, or occupational therapy, medical social services, and home health aide services. It has policies established by a professional group associated with the agency to govern the services and provides for supervision of such services by a physician or a registered nurse. It is licensed in accordance with the state of Florida and meets all conditions found by the Secretary of Health and Human Services to be necessary for health and safety. Additionally, both federal and state regulatory agencies have always rated the agency's standards as exemplary.
"We are very excited by this pending acquisition. Not only does the agency have excellent credentials, but it has the same mission as HHII, to provide the best care and services to seniors and those with permanent or short-term disabilities," stated Lazaro Garcia, CEO of Home Health International, Inc.
Another benefit of the acquisition is the Medicare-certified agency's Florida location. Home healthcare expenditures in Florida have experienced near double-digit growth year over year since 2007. From 2008-09, Florida experienced an increase of 9.2% in home health expenditures ($4.8 million, 2008; $5.3 million, 2009; Florida Agency for Healthcare Administration). This rate of increase was enough to crown home health the fastest growing healthcare expenditure in Florida.
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About Home Health International Inc.
Home Health International Inc. was incorporated in the State of Nevada on September 13, 2006. The Company was formerly known as Micro Mammoth Solutions, Inc. and operated as such until January 25, 2010. On January 26, 2010, the Board of Directors of the Company approved a Stock Purchase Agreement between the Company and all of the shareholders of Atlas Capital Partners, LLC. Following the acquisition of Atlas Capital Partners the shareholders approved an amendment to the Company's Articles of Incorporation changing the Company's name from Micro Mammoth Solutions, Inc. to Atlas Capital Holdings, Inc. The Company received shareholder and board approval to amend its Articles of Incorporation to change its name to Home Health International Inc. This change was approved by FINRA and became effective on March 26, 2012.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Home Health International Inc. undertakes no obligation to update such statements.
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Datum: 16.04.2012 - 06:11 Uhr
Sprache: Deutsch
News-ID 1103133
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