LOS ANGELES, July 16, 2003 (PRIMEZONE) -- IPOdesktop.com, in its continuing series of Internet radio reports featuring OptimumCare Corporation (OCTBB:OPMC), today interviewed the company's director of mergers and acquisitions, Mort Lapides, about the firm's plans for growth in acquiring staffing agency services to respond to a marketplace in which Lapides says "demand far outstrips supply."
The show's host, Francis Gaskins, Editor of IPOdesktom.com, interviewed Lapides. Listeners may hear the interview by accessing it through RealAudio at RealAudio: http://gaskinsco.com/opmc2.ram or on Windows Media: http://mmslb.eonstreams.com/gaskins/opmc2.wma.
During the interview, Lapides notes that healthcare is the strongest and fastest growing segment of the staffing services marketplace. Lapides, who earlier served as president and CEO of several companies, said his balance sheet experience uniquely enables him to weight the merits of targeted acquisitions for OptimumCare. Typically, Lapides indicates, the company's acquisition criteria is focused on local staffing programs with a healthcare component in the $1-$3 million revenue level, and that are operating profitably.
Lapides notes that the total nursing population continues to decline, with fewer nursing school graduates and experienced nurses either leaving the field or retiring, just as the aging U.S. population needs their services more than ever. In that kind of environment, the M&A director notes, "hospitals need to be flexible and nurses need to flexible as well." Through OptimumCare's staffing divisions, it is helping both to meet their needs.
So far, Lapides indicates, the company has made three staffing acquisitions, two in the Los Angeles area and another in Orlando, Florida, and has just opened an office in Jacksonville, Florida as well. All are focused on delivering highly qualified nurses and social workers when hospitals and other facilities find themselves short of staff.
An earlier interview with Chairman & CEO Edward A. Johnson is also available. Listeners may hear the interview by accessing it through RealAudio at http://gaskinsco.com/opmc.ram or via Windows Media at http://mmslb.eonstreams.com/gaskins/opmc.wma.
Created in 1987 to respond to opportunities presented by increasing utilization of behavioral health services, OptimumCare today provides a wide range of inpatient and outpatient behavioral health services and temporary healthcare staffing services through a network of affiliated hospitals, medical centers, community health centers and staffing agencies. Further information on the company may be found on its website at www.optimumcare.com .
Certain of the statements made herein constitute forward-looking statements that involve risks and uncertainties, including the risks associated with plans, the effects of changing economic and competitive conditions, government regulation which may affect facilities, licensing, health-care reform which may affect payment amounts and timing, availability of sufficient working capital, program development efforts and timing, and market acceptance of new programs which may affect future sales growth and/or costs of operations. Additional information may be obtained by reviewing the company's reports filed from time to time with the SEC.