Analytical Nursing Management to merge with Surgical Care Centers of Texas.BATON ROUGE Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--April 26, 1995--Analytical Nursing Management Corp. (NASDAQ NASDAQin full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ANMC ANMC Alaska Native Medical Center ANMC American National Metric Council ANMC Alliance Nationale des Mutualités Chrétiennes ANMC Asian Network of Major Cities ANMC Anglers' Net Members Club ANMC Anniston Munitions Center (US Army) ) announced today it had signed a letter of intent to merge Surgical Care Centers of Texas, LC (Surgicare) of Pasadena, Texas with ANMC. The terms of the agreement call for a stock transaction currently valued at approximately $7 million. Surgicare provides outpatient surgery Outpatient Surgery, also referred to as ambulatory surgery or same-day surgery, is surgery that does not require an overnight hospital stay. The term “outpatient” arises from the fact that surgery patients may go home do not need an overnight hospital and reported unaudited annual revenues in excess of $4 million in 1994, with an unaudited 1994 pre-tax income in a range of $1.0 to $1.5 million. The close of the transaction is subject to due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. by both parties and the entering into a definitive agreement containing standard conditions, representations and warranties to be fulfilled by both parties. The transaction is expected to close at the end of June 1995. In announcing the transaction, William F. Borne, chief executive officer of ANMC said, "The merger of Surgicare into ANMC will mark our entry into the outpatient surgery arena and completes our growing `one stop shop' and primary care network. This acquisition should substantially increase our assets, revenues and earnings, since the outpatient surgery business has significantly higher profit margins." Revenues in 1995 for the combined companies are estimated at $35 million. Borne added that Glen Rodriquez, chief executive officer and Irv Gregory, vice president of Surgicare will be nominated to ANMC's board of directors. In a related matter, ANMC announced the acquisition of Health Care 24, a free standing home health agency in Beaumont, Texas Beaumont is a city and county seat of Jefferson County, Texas and is within the Beaumont-Port Arthur metropolitan area. As of the 2000 U.S. Census, the city had a population of 113,866. . The company said the addition of Health Care 24 would double the referral network and patient base in this area of Texas. ANMC currently has operations of AMEDISYS, its health care subsidiary in Texas. ANMC is a diversified healthcare company offering home health care, provisional medical staffing and primary care in rural areas. CONTACT: Analytical Nursing Management Corp. Barbara Carey, 800/467-2662 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Adam I. Friedman/Joseph A. Mansi 212/682-6300, ext. 215/205 |
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