ATC to Acquire Medical Staffing Firm in Arizona.LAKE SUCCESS, N.Y. -- ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered Healthcare, Inc., (AMEX AMEX See: American Stock Exchange :AHN AHN Athens, GA, USA (Airport Code) AHN Army Health Nurse (US Army) AHN Aetna Hispanic Network AHN Allied Health Network AHN Ad Hoc Network ) 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 Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. 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 The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 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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