GIG HARBOR, Wash., Aug. 11, 2006 (PRIMEZONE) -- Nannaco, Inc. ("Nannaco") (Pink Sheets:NANN) announced that it will begin remote treatment planning at Maryview Hospital, located in Virginia. It is expected that the hospital will conduct 4-5 remote treatment plans for cancer radiation patients in the next month, which should grow to 10 treatment plans per month. It is projected that this will increase CPRS revenues by approximately $150,000 over the next 12 months.
CPRS is a 12-year-old-firm that provides specialized, internet-based treatment plans and medical physics consulting services for radiation centers. Nannaco's acquisition of CPRS will provide the foundation for the entity to achieve significant revenue growth from both (i) internal expansion of CPRS's existing business, and (ii) from its plan for future acquisitions in the highly fragmented radiation and cancer industries. CPRS achieved revenues of approximately $1,700,000.00 for the year ended 2005, with EBITDA of approximately $100,000.00. Management believes that the merger will provide CPRS with greater access to capital, with which it intends to commence enhanced sales and marketing efforts.
About NANNACO, INC.
Nannaco, Inc. previously provided surface cleaning, surface protection, surface restoration and other services to commercial and industrial businesses, as well as to owners of historical buildings. The company has moved to a new line of business as a consultant and advisor to customers, and is seeking to improve its financial position through the acquisition of, or merger with, companies capable of providing the best value to its shareholders.
More information about Nannaco Inc. can be found at http://www.sec.gov.
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For further information, please contact Steve Careaga at (253) 853-3632, or send correspondence to 4916 Point Fosdick Dr., Suite 102, Gig Harbor, WA 98335.