CAREERSTAFF UNLIMITED ACQUIRES THE HOLDING GROUP, INC.HOUSTON--(BUSINESS WIRE)--April 5, 1995--CareerStaff Unlimited, Inc. (The Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. :STAF STAF Software Testing Automation Framework STAF Simulation/Test Acceptance Facility STAF Systems Technical Applications Facility STAF Space-Time Adaptive Filtering STAF Security-PRO Transition Analysis Facility STAF Strobe a Flag ), the leading national provider of temporary rehabilitation therapist staffing, today announced that it has acquired The Holding Group, Inc. ("HGI HGI Home Gateway Initiative HGI hydroGEOPHYSICS, Inc (Tucson, Arizona) HGI Harris Group Inc HGI Heliographic Inertial HGI Horn Group Inc (San Francisco, CA) HGI Honda Granturismo Italia "), a privately-held provider of rehabilitation therapist staffing based in Farmington Hills, Michigan Farmington Hills is the most populous city in Oakland County of the U.S. state of Michigan. It is a suburb of Detroit and is known for it's affluence, excellent schools, great housing stock, luxury homes and a center of business in Oakland County and Metro Detroit. . The acquired entity will serve as the Company's Detroit Division office, with its former owner being hired as Division President Partner. The Company's existing Detroit Division office, established in February 1994, will merge into the HGI location. Michael Weinholtz, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of CareerStaff Unlimited, commented, "The acquisition of HGI, which has been a well-respected provider of rehabilitation therapist staffing to the greater Detroit region since 1986, will support and enhance the Company's entry into the Detroit market. We anticipate that this acquisition will generate an immediate financial return as we record additional billable hours from our expanded pool of therapist personnel." CareerStaff Unlimited, Inc. is the leading provider of licensed physical, occupational and speech therapy staffing, primarily to hospitals, nursing homes, outpatient and other rehabilitation contract service managers and to home health care providers. CareerStaff operates through a growing national network currently comprised of 15 Therapists Unlimited Division offices and five satellite offices, along with Healthcare Staff Resources, Inc. and TravelCare USA, both national providers of traveling therapists. On March 30, 1995, CareerStaff Unlimited and Sun Healthcare Group, Inc. (NYSE NYSE See: New York Stock Exchange :SHG SHG Second Harmonic Generation SHG Short-Handed Goals (hockey) SHG Self Help Group SHG State History Guide (formerly State House Girls) SHG Sacred Heart Griffin ) announced that they entered into a definitive merger agreement which is expected to close during the second quarter of 1995. CONTACT: CareerStaff Unlimited, Inc., Houston J. Livingston Kosberg, (713) 297-9080 Michael Weinholtz, (713) 297-9075 Jay Rosen, (713) 297-9204 or The Equity Group Inc., New York Robert Goldstein, (212) 371-8660 Tamara Ehlin, (212) 836-9607 |
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