SPARTANBURG, S.C., Dec. 21, 2006 (PRIME NEWSWIRE) -- Southern Home Medical Equipment, Inc. (Pink Sheets:SHMM) announced today the signing of a letter of intent to purchase Adaptive Medical Upstate, Inc. Adaptive Medical is a durable medical equipment company located in Lyman, S.C. Adaptive Medical had reported revenues of $794,780.00 for year end 2005. The company is expected to finish 2006 with approximate revenues of $900,000.00. Dennis Nowak, Vice President of Southern Home, stated, "The Adaptive Medical team has had steady growth in revenues for 12 years. They bring a lot of knowledge and experience to our team, and we are pleased that they are joining us."
Southern Home Medical is a durable medical equipment operation formed in January 2005, with its principal place of business located in Spartanburg, S.C. Southern Home Medical will be expanding its operations through the acquisition of existing "DME" companies and through the start up of additional sites in strategic locations throughout the Southeastern United States. Southern Home Medical will provide "in-home" and nursing home patients with a complete line of medical equipment to include: oxygen concentrators, semi-electric beds, wheelchairs, CPAPs, BiPAPs, enteral tube feeding, etc.
Mr. Nowak also stated, "This will be our second of many acquisitions and we would encourage those interested in our business strategy to refer to our website at: www.southernhomemedical.com."
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 of 1995. The company intends that such proclamations 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. Southern Home Medical Equipment, Inc. depends on outside resources to maintain its continuation. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.