QualityStocks would like to highlight HASCO Medical (OTCBB: HASC), a managed healthcare provider of a broad range of home healthcare products and services. Focused on becoming a leading provider in this growing market, the company's three major product lines currently include home respiratory equipment, durable/home medical equipment, and new and used wheelchair accessible vans for which it provides custom conversion services. The company operates in the southeastern United States, including Alabama, Mississippi, and Florida. The company's objective is to be a leading provider of home health care products and services in the continental U.S.
In the company’s news yesterday,
HASCO Medical announced it has acquired all of the outstanding capital stock of Ride-Away Handicap Equipment Corp., one of the nation’s largest providers of wheelchair vans, vehicle modifications, and more. The acquisition marks HASCO’s fourth acquisition in the last nine months.
Ride-Away’s product offerings are complementary to HASCO Medical’s goals for the future and are expected to generate significant annual sales.
“Ride-Away is a great fit for HASCO Medical’s long-term consolidation strategy,” Hal Compton, Jr., CEO of HASCO Medical stated in the press release. “With the acquisition of Ride-Away, HASCO will now have over $70 million in annual sales. HASCO will continue looking to grow organically or through more acquisitions in the future. We look forward to continuing Ride-Away’s commitment and impeccable service they provide to their customers.”
Ride-Away was launched in 1986 when the company began modifying wheelchair vans for people with disabilities. The company quickly emerged as a strong leader of the vehicle modification industry, becoming a pioneer in the vehicle modification industry. Ride-Away has an inventory of more than 350 accessible vehicles throughout its 11 East Cost locations, including vehicles from manufacturers such as Braun and Viewpoint.
Nick Gutwein, president of the Braun Corp., a leading manufacturer of wheelchair accessible vehicles, noted his company’s business relationship with Ride-Away.
“The Braun Corporation has enjoyed a very successful, longstanding relationship with Ride-Away,” Gutwein stated. “We are confident that HASCO will build upon Ride-Away’s success and continue to provide unmatched transportation solutions for people with disabilities.”
Mark Lore, founder and president of Ride-Away, will stay on board to run the company.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
