First Quarter 2008 Highlights
-- First quarter 2008 revenue increased 23.0% to $54.7 million from $44.5 million for the first quarter of 2007. The increase in net revenue was attributable to strong organic growth and acquisitions that led to the increased patients serviced from the 67 branch locations at March 31, 2008.
-- First quarter 2008 operating income totaled $7.5 million, up from $4.5 million for the quarter ended March 31, 2007. The increase in operating income was attributable to strong organic growth and acquisitions.
-- First quarter 2008 net income rose 725% to $1.9 million from $0.2 million for the first quarter 2007.
-- EBITDAOS increased to $8.7 million for the quarter ended March 31, 2008 from $5.4 million for the quarter ended March 31, 2007. Pro forma EBITDAOS, adjusted for certain management fees, MBH transaction, integration, severance and non-cash costs as defined in the Company's bank credit facilities and without regard to certain caps on such items contained within the facilities, totaled $10.3 million for the quarter ended March 31, 2008, as compared to $6.3 million for the first quarter of 2007.
-- CHS is pleased to announce the acquisition of Wilcox Pharmacy in the Northeast, effective April 1, 2008.
-- CHS has also signed a Definitive Purchase Agreement to acquire an Infusion Provider in the Metropolitan New York Service area. Closing is expected in 60 to 90 days.
Definitive Merger Agreement
On February 6, 2008, Critical Homecare signed a definitive stock
purchase agreement with MBF Healthcare Acq
|SOURCE Critical Homecare Solutions Holdings, Inc.|
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