CAREERSTAFF UNLIMITED COMPLETES ACQUISITION OF HEALTHCARE STAFF RESOURCES FROM OLSTEN SUBSIDIARY.HOUSTON, TX--(BUSINESS WIRE)--March 15, 1995--CareerStaff Unlimited (Nasdaq National Market: 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 rehabilitation therapist staffing, today announced that it has completed the acquisition of 100% of the outstanding stock of Healthcare Staff Resources, Inc. ("HSR HSR homogeneously staining regions. "), a national provider of traveling physical, occupational and speech therapists, from Kimberly Services, Inc., a wholly-owned subsidiary of The Olsten Corporation (New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. :OLS OLS Ordinary Least Squares OLS Online Library System OLS Ottawa Linux Symposium OLS Operation Lifeline Sudan OLS Operational Linescan System OLS Online Service OLS Organizational Leadership and Supervision OLS On Line Support OLS Online System ). The purchase price was $4,500,000 in cash, paid at closing. HSR, based in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. , reported revenues of approximately $13,000,000 (unaudited) for the year ended December 31, 1994. Pursuant to the acquisition, HSR's Director of Operations was named a CareerStaff Division President and became a minority owner of this Division. 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, "This acquisition significantly expands our national presence as a provider of traveling therapist temporaries and enhances our ability to supply qualified personnel to national providers of rehabilitation and home health services health services Managed care The benefits covered under a health contract . We are very pleased to add a highly qualified Division President with extensive experience in this segment of the temporary health care staffing business. Looking ahead, with this acquisition we have also augmented the personnel available for our Therapists Unlimited division offices with those therapists who choose to remain in a specific geographic area rather than travel. We expect an immediate financial return from this acquisition 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, and its Healthcare Staff Resources, Inc. unit and Travel Care USA division, both national providers of traveling therapists. CONTACT: -OR- INVESTOR RELATIONS Investor relations The process by which the corporation communicates with its investors. : J. Livingston Kosberg, Chairman The Equity Group Inc. 713/297-9080 Robert Goldstein Michael Weinholtz, President & CEO 212/371-8660 713/297-9075 Tamara Ehlin Jay Rosen, Chief Financial Officer 212/836-9607 713/297-9204 |
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