SPARTANBURG, S.C., Dec. 28, 2006 (PRIME NEWSWIRE) -- Southern Home Medical Equipment, Inc. (Pink Sheets:SHMM) announced today the signing of a letter of intent to purchase Apnea RX, Inc. Apnea RX in a durable medical equipment company located in Clemson, S.C. Apnea RX focuses primarily on the sleep market with a secondary focus on respiratory. Based on revenues currently being generated, Apnea RX is projected to finish 2007 with approximate revenues of $600,000.00. Greg Tucker, President of Southern Home Medical stated, "We look forward to the Apnea RX team joining us. The sleep market is an interesting segment of the industry. Eighty to 90 percent of adults with clinically significant sleep disordered breathing remain undiagnosed. Apnea RX is poised to play a significant role in helping those with sleep related issues."
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. Tucker also stated, "There are an estimated 18 million Americans who have obstructive sleep apnea. The sleep segment of the industry is really just getting started. We fully expect that the expertise the Apnea RX team brings to the table will permeate into all of our locations over time and will play a significant role in helping to grow our business."
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.