Del Mar, CA, July 12, 2022 (GLOBE NEWSWIRE) -- Universal Wellness Holding Corp fka American Diversified Holdings Corporation (OTC: ADHC) (“ADHC”) announced today that the company has executed a Letter of Intent to acquire a medical staffing company that has generated over $65 million in revenue over the last 5 years, including over $18 mm in 2020 and $15 mm in 2021. Current revenues for 2022 are projected to exceed $20 mm annually. Profitability has averaged approximately 15 % or over $2.7 mm for 2021 on an EBITA basis.
The purchase price and other relevant details are not disclosed at this time and are subject to a confidentiality agreement.
ABOUT THE TEMPORARY HEALTH CARE MARKET
The “Travel and Per Diem Nurse” staffing market reached $16 billion in 2021 and is projected to exceed $22 billion by 2026 as health care institutions are adopting a more flexible staffing model. By utilizing new strategies to combat the periodically increasing needs for highly trained specialists health care institutions are saving time and money by using temporary staffing firms to meet fluctuating manpower requirements. Creating a staffing and human resource environment where insurance companies, hospitals, pharmaceutical companies, nursing homes and other healthcare institutions are ready to fill surge demands with per diem and temporary staffing thereby reducing the need to hire full time employees which may not be needed on a permanent basis.
Subject to due diligence shareholders should expect more developments to be publicized regularly.
ABOUT UNIVERSAL WELLNESS HOLDING CORP:
Universal Wellness Holdings Corp fka American Diversified Holdings Corporation is a publicly traded holding company trading under the ticker symbol (OTC: ADHC).
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