HOUSTON, Aug. 23, 2005 (PRIMEZONE) -- Complete Care Medical, Inc., (Pink Sheets:CCMI), is pleased to announce that an agreement is in place to acquire Medical Technologies, LLC (Med-Tech). Med-Tech will operate as a wholly owned subsidiary of CCMI.
Medical Technologies, LLC (Med-Tech), an Oklahoma limited liability company, headquartered in Duncan, Oklahoma, is a rapidly expanding, multi-location home medical equipment company, which has a groundbreaking "store in a store" agreement with the leading national discount retailer. Med-Tech, has four proof-of-concept stores already open and operating in Arkansas and Oklahoma. The acquisition of Med-Tech will present CCMI with an unprecedented opportunity to become a dominant player in the Home Medical Equipment industry. Retail sales of Home Medical Equipment are expected to reach $18 billion by the end of 2008.
"Complete Care Medical's buying power and its industry associations will allow Med-Tech to adapt CCMI's deeply discounted pricing model to its home medical equipment business, while CCMI's access to capital markets will greatly accelerate Med-Tech growth, with more than 100 new stores planed for 2006. The acquisition will open the door for our other affiliated companies to leverage sales of their medical products and services to Med-Tech's rapidly growing client base," said J.P. Monteverde, CEO of Complete Care Medical, Inc.
Through its subsidiaries, Complete Care Medical, Inc., provides patients in all 50 states with lower cost alternatives for disease management, medical supplies and prescription pharmaceuticals. In addition, Complete Care Medical's discount services and medication program offers healthcare payers, healthcare providers, healthcare professionals and patients with easy access to utilization and compliance data in order to improve patient outcomes and improve quality of life.
For more information: www.ccmedicalinc.com
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