ComTech Consolidation Group Inc. to Acquire Second Health Care Consortium.HOUSTON--(BW HealthWire)--June 23, 1998--ComTech Consolidation Group Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:CCGI CCGI Coventree Consulting Group International ) today announced that it has reached a preliminary agreement to acquire a consortium of Texas-based health care related businesses, consolidated under FAD Holdings Inc. (FADHI), a Texas corporation planned for closure next month (July). The FADHI consortium, headquartered in San Antonio San Antonio (săn ăntō`nēō, əntōn`), city (1990 pop. 935,933), seat of Bexar co., S central Tex., at the source of the San Antonio River; inc. 1837. , is currently reporting sales revenue which will exceed $15 million for 1998, while maintaining a historical EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). around 12%, from sales of outpatient healthcare related services (partial hospital, home health care, home health management, and health care financial services). Roger R. Stewart, 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. and Chairman of ComTech commented, "With the planned acquisition of FADHI, ComTech's previously published forecast for the third quarter ($7.1 million) will most likely be surpassed." Stewart went on to state, "With the end of the second quarter only a few days away, we feel very comfortable that ComTech's consolidated salesforecast of $5.2 million will be met." ComTech also stated that detailed information regarding CCGI can now be reviewed online at www.ccg.net, including financial statements and projections. ComTech also announced that Stewart plans to hold an open line conference call with interested parties on June 25, 1998, at 4:15 p.m. EDT EDT abbr. Eastern Daylight Time EDT Eastern Daylight Time EDT n abbr (US) (= Eastern Daylight Time) → hora de verano de Nueva York EDT to discuss CCGI and its developments. All current and prospective shareholders, institutional portfolio managers, investment bankers, security analysts, members of the brokerage community, representatives of the trade and general business media, and other interested parties are encouraged to participate in this conference call. To take part in the teleconference, call M&A West Inc. Investor Relations Investor relations The process by which the corporation communicates with its investors. at 650/588-2678 to reserve your space on the call. Statements regarding financial matters in this press release other than historical facts are forward-looking statements within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward- looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
CONTACT: M&A West Inc.
Scott Kelly, 650/588-2678
www.mawest.com
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