UNIVERSAL WELLNESS HOLDING CORP (OTC: ADHC) TO ACQUIRE $65 MM IN REVENUE HEALTHCARE COMPANY

Rhea-AI Summary

Universal Wellness Holding Corp (OTC: ADHC) has signed a Letter of Intent to acquire a medical staffing company that generated over $65 million in revenue over the last five years, with projections exceeding $20 million for 2022. The company achieved approximately 15% profitability in 2021, equating to over $2.7 million in EBITA. As the temporary healthcare market is expected to grow from $16 billion in 2021 to over $22 billion by 2026, this acquisition aims to enhance ADHC’s market position, pending due diligence and further announcements.

Positive

• Projected revenue for the acquired company exceeds $20 million in 2022.
• Historical revenue over the last five years totals over $65 million.
• Profitability averaged approximately 15%, translating to over $2.7 million EBITA in 2021.
• Acquisition aligns with growth in the temporary healthcare staffing market, expected to reach over $22 billion by 2026.

Negative

• None.

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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).

Investor Contact: 
eremo@Universalwellnesshc.com
Tel: 858-405-7168

TWITTER: @ADHCManagement

This Twitter page is the only official twitter page for ADHC. Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and uncertainties that may cause our actual results to be materially different performance or achievements expressed. You should not place undue reliance on these statements since they involve known and unknown risks, in some cases, beyond our control.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the acquisition announced by ADHC?

ADHC announced a Letter of Intent to acquire a medical staffing company with significant historical revenue and profitability.

How much revenue did the medical staffing company generate?

The staffing company generated over $65 million in revenue over the last five years.

What are the profitability margins of the acquired company?

The acquired company had an average profitability of approximately 15% in 2021.

What is the expected impact of this acquisition on ADHC?

The acquisition is expected to strengthen ADHC’s position in the growing temporary healthcare staffing market.

When will shareholders receive more information about the acquisition?

Shareholders should expect more developments to be publicized regularly, subject to due diligence.