ATC to Acquire Medical Staffing Firm in Arizona
June 01 2006 - 9:15AM
Business Wire
ATC Healthcare, Inc., (AMEX:AHN) a leader in medical staffing,
announced today that it has entered into an agreement to acquire a
leading provider of per-diem and travel-nursing services in the
Arizona market. The company, with three locations in Arizona, had
revenues of approximately $7 million last year and should be
accretive to ATC's earnings. The closing of the acquisition is
expected to occur by June 20, 2006, and is subject to certain
conditions, including the obtaining of consents. To finance the
acquisition, ATC sold $1.0 million of its new Series C Preferred
stock which is convertible into Class A Common Stock at $0.45 per
share. About ATC Healthcare, Inc. ATC is a national leader in
medical staffing personnel to hospitals, nursing homes, clinics and
other health care facilities with 54 locations in 31 states. ATC
provides supplemental staffing, outsourcing and human resources
solutions to hospitals, nursing homes, medical and research
facilities and industry. Drawing from a pool of over 15,000 health
care professionals spanning more than 50 specialties, the company
supplies both clinical and non-clinical personnel for short-term,
long-term, and "traveling" contract assignments. To learn more
about the company's services, visit their web site at
www.atchealthcare.com. This press release contains forward-looking
statements. Actual results could differ materially from those
projected in the forward-looking statements. Additional information
concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is
contained in ATC Healthcare, Inc. Annual Report on Form 10-K for
the year ended February 28, 2006 as filed with the Securities and
Exchange Commission on May 30, 2006.
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