HANOVER, Md., July 1, 2004 (PRIMEZONE) -- Humana Trans Services Holding Corporation (OTCBB:HTSC) (http://www.humanaservices.com) announced today that it is in final stages of negotiations with Emcore Inc., and will set a closing date within the next 60 days. As previously announced upon closing the combined company will have payroll revenue in excess of $100,000,000, up from approximately $25 million currently. The company also noted that as a result of this acquisition it expects to achieve immediate profitability.
As well, Humana concluded their investor conference on June 29 in New York. At the conference, David Bell, former CEO of Strategic Outsourcing Inc. (SOI), one of the nations largest PEO service company's, announced that upon closing of the acquisition he will possibly assume a key operational role with Humana. Mr. Ronald Schapps, Chairman of Humana stated, "The addition of Mr. Bell to the Humana team is a strong indication of Humana's growth plans. Mr. Bell was instrumental in the growth of SOI from $100 million to over $1Billion in payroll revenue, and the eventual sale to Union Planters. We are confident that he will be instrumental in Humana's growth as well."
About Humana Trans Services Holding Corporation
Established in 2001, Humana is a fully reporting, publicly traded company listed currently on the over-the-counter (OTC) market under the symbol "HTSC". The company is primarily engaged in employee leasing and recruitment services in five states and maintains its corporate offices in Hanover, MD, with operations in the Northeast and Florida. HTSC currently provides human resource (HR) outsourcing principally to the transportation industry and to leading Fortune 500 companies including Cardinal Health, Penske Logistics and Royal Ahold.
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