HOUSTON, TX--(Marketwire - October 19, 2009) - Bederra Corporation (PINKSHEETS: BEDA), a Houston, Texas based diversified medical services provider, announced that the company has signed a Letter of Intent to acquire Texas Mobile Health, Inc.
Texas Mobile Health, Inc. provides mobile diagnostic services such as Eko Cardiograms, Pulmonary Function tests, Vascular Studies and Event Monitoring to physician offices, clinics and nursing homes. By acquiring Texas Mobile Health, Bederra will be able to provide ICAVL certified facilities and be able to gain further revenues under the ICAVL certification, which is now a requirement of Medicare and certain private insurance companies.
The acquisition is estimated to generate revenues in the $3 million range with plans to add several additional services that could double this volume. Due to some anticipated changes in Medicare beginning in January 2010, many existing physician offices will not be able to provide in-house services such as those provided by Texas Mobile Health due to certification requirements. Therefore, there will be a greater market for companies such as Texas Mobile Health to fulfill this need.
This acquisition will mark the horizontal diversification of Bederra Corporation and complements its current suite of diagnostic services with another operational and revenue generating model. Texas Mobile Health will enable Bederra clients in need of diagnostic services, but unable to travel, to receive those services in the comfort and safety of their own homes.
The acquisition is pending the completion of customary due diligence and the execution of definitive agreements.
About Bederra Corp.
Bederra Corporation, through its wholly owned subsidiaries Lumar Imaging, Inc., Reliant Medical Group and Diagnos, Inc., provides multiple modality diagnostic medical imaging services to the greater Houston area and the world famous Texas Medical Center. The Company’s business strategy is to continue to expand its current operations and seek out additional acquisitions that will complement its core offerings.
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products and services in development, including any planned acquisitions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company’s plans or expectations.
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