(PR NEWSWIRE) ComTech and Healthcor Holdings Announce Deal
ComTech and Healthcor Holdings Announce Deal
HOUSTON, June 29 /PRNewswire/ -- ComTech Consolidation Group Inc.
(OTC Bulletin Board: CCGI) and Healthcor Holdings Inc.
(OTC Bulletin Board: HCOR) today announced that ComTech subsidiary Unique
Dawning Inc. has acquired Healthcor's Medicare and Commercial Home Health Care
Operations located in Beaumont, TX in exchange for cash. These operations
generated approximately 2 million dollars in revenues in fiscal 1998.
Mr. Winfred Fields, ComTech chairman and chief executive officer, said,
"We are very pleased to announce this acquisition and further strengthen our
presence in the Texas Healthcare Industry. We are continuing to evaluate our
overall marketplace and identify potential acquisition targets." Mr. Fields
continued, "This acquisition will add significantly to our existing revenue
stream while not causing any dilution to ComTech shareholders."
About ComTech Consolidation Group Inc.
ComTech posted revenues of nearly $9,000,000.00 in fiscal 1998, while
posting earnings of $715,000.00 or $.05 a share. ComTech recently filed with
the Securities and Exchange Commission to become a fully reporting company and
is currently evaluating the listing requirements of both the NASDAQ and
American Stock Exchanges in anticipation of filing an application for listing
later this year or early next year.
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 statements 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. Since these statements (future operational results and sales)
involve risk and uncertainties and are subject to change at any time, the
company's actual results may differ materially from expected results.
SOURCE ComTech Consolidation Group Inc.
-0- 06/29/99
/CONTACT: Glenn Bartolini, VP Investor Relations, The Compass Point
Group, Inc., 619-525-0800, gb@compasspointgroup.com, for ComTech Consolidation
Group Inc./
(CCGI HCOR)
CO: ComTech Consolidation Group Inc.; Unique Dawning Inc.;
Healthcor Holdings Inc.
ST: Texas
IN: HEA
SU: TNM
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