Atc Healthcare (AMEX:AHN)
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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.