UNISON HEALTHCARE CORPORATION TO ACQUIRE THREE REFERENCE LABS; ACCRETIVE IMPACT EXPECTED.SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 6, 1996--Unison HealthCare Corporation (Nasdaq/NM:UNHC) announced today that they have reached an agreement to acquire three clinical reference laboratories which provide lab services primarily to nursing homes. The three labs are located in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. ; Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. ; and Poplar Bluff, Missouri Poplar Bluff is a city in Butler County, Missouri, United States. It is the county seat of Butler CountyGR6 and is also known as "Gateway To The Ozarks." The Poplar Bluff Micropolitan Statistical Area consists of Butler County. , and currently serve over 280 facilities. The transaction is expected to be accounted for as a pooling of interests Pooling of Interests An accounting method, used in mergers and acquisitions, where the balance sheet items of the two companies are simply added together. Notes: The opposite of pooling of interests is the purchase acquisition method. . The consideration will be Unison common stock valued at approximately $7 million. The Company expects the acquisition to be accretive to earnings and anticipates closing before September 30, 1996, 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. , regulatory review, and the approval of the Boards of Directors of the parties. Presently, the three laboratories are generating annual revenues of over $7,000,000. Craig R. Clark, executive vice president and chief financial officer of Unison HealthCare Corporation, commented, "We are pleased to announce this major transaction which we expect to have a positive impact on our company in 1996. In addition to strong historic market trends, these reference labs are ideally situated to provide services to existing Unison nursing homes, thereby further improving the Company's profitability." In closing Mr. Clark added, "This transaction is another important step in our strategy to control the delivery of ancillary services to our nursing homes. Such an approach enables us to cost-effectively provide high quality care which is essential for success in what is increasingly becoming a managed care environment." Representing the laboratories being acquired, W. Jerome McGee, one of the principals, commented, "We are pleased to join a growing organization such as Unison. Our customers and employees will be better served now that we are part of a larger organization with a reputation for delivering cost-effective, high quality service." Unison HealthCare Corporation is a provider of quality long-term and specialty health care services. The Company provides a broad range of health care services including nursing care, rehabilitation rehabilitation: see physical therapy. therapy, pharmacy and other specialized services primarily to subacute patients. The Company currently operates 46 skilled nursing facilities skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. and five independent living facilities, representing 4,912 beds. CONTACT: Unison HealthCare Corporation, Scottsdale Jerry M. Walker, President, 602/423-1954 |
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