LAGUNA NIGUEL, Calif., Aug. 28, 2003 (PRIMEZONE) -- OptimumCare Corporation (OTCBB:OPMC) today announced that it has signed a letter of intent to acquire the stock of a Southern California-based per diem nurse registry.
The staffing agency, which primarily provides nurses on a temporary basis, posted revenues of approximately $1.4 million for the year ended December 31, 2002. Terms of the proposed acquisition were not disclosed.
"This transaction is subject to due diligence, including review by the company's auditors and approval by the company's board of directors," said OptimumCare's Chairman & CEO, Edward A. Johnson. "As we have indicated in prior announcements, our goal is to complete one such acquisition on average in each quarter going forward, as we position ourselves increasingly in the temporary healthcare staffing services sector nationwide."
Created in 1987, OptimumCare Corporation provides healthcare services in two industry segments. The behavioral health contract segment provides management teams to client hospitals and medical centers on a long-term contract basis to run inpatient and outpatient behavioral health services. The temporary healthcare staffing segment provides temporary skilled nurses, social workers and other professionals to a broad base of medical and healthcare client sites.
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, healthcare reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the Company's reports filed from time to time with the SEC.
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COMPANY: OptimumCare Corporation
Ed Johnson, Chairman & CEO
(800) 771-7202
www.optimumcare.com