ATC Completes Acquisition of Medical Staffing Company in Arizona
12 June 2006 - 10:45PM
Business Wire
ATC Healthcare, Inc. (AMEX:AHN), a leader in medical staffing,
announced today that it has closed on its acquisition of the assets
of Critical Nursing Services Inc. (CNS), a leading provider of per
diem and travel nursing in the Arizona market. CNS has locations in
Phoenix, Tucson and Gilbert Arizona, as well as a travel division
located in Whitefish, Montana. CNS, which had revenue of
approximately $7.0 million dollars, last year, will be accretive to
the earnings of ATC. "The acquisition of Critical Nursing
Solutions, a market leader in Arizona, is very significant for
ATC," remarked David Savitsky, Chief Executive Officer. "CNS gives
us four new locations in two new states, which broadens our ability
to recruit and staff personnel for travel and government contracts.
With this accretive transaction and our steady improvement in
operations, ATC can look forward to a profitable year in FY 07."
Derek Springfield, CEO of Critical Nursing Services said, "I am
very pleased that ATC and CNS have completed this transaction. I
look forward to working with the entire staff of CNS to continue
the consistent growth that CNS has experienced in the past few
years." About ATC Healthcare, Inc. ATC is a national leader in
medical staffing personnel to hospitals, nursing homes, clinics and
other health care facilities with 58 locations in 33 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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