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HASCO Medical Announces Intent to Acquire Auto Mobility Sales, Inc.

Jun 19 2013 12:00AM

Marketwire

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ADDISON, TX -- (Marketwired) -- 06/19/13 -- HASCO Medical, Inc. (OTCQB: HASC), www.HascoMed.com, today announced its intent to purchase privately held Auto Mobility Sales, Inc. of Lake Worth, Florida, a leader in wheelchair accessible vehicle sales, service and rentals in southeastern Florida. The acquisition of Auto Mobility Sales, Inc. complements and expands HASCO's strategy of becoming a leading consolidator of wheelchair accessible mobility dealers. The acquisition is subject to customary closing conditions, including regulatory, vendor and bank review. The acquisition is expected to close in the 3rd quarter of 2013.

Hal Compton, CEO of HASCO Medical, states, "I am very excited about the acquisition and the talent pool of Team Members this will bring into the HASCO Medical family. The acquisition continues to align with HASCO's growth strategy in the Florida market. The purchase of Auto Mobility Sales will make HASCO the dominant mobility dealer in Florida which will translate into the best selection, customer service, and an expansion on our promise of Delivering Freedom to our customers."

As part of the transition, Bob Desmarais and Aaron Gardner will remain with the company in an executive capacity. The details of the acquisition will be released pending the close of the purchase.

About HASCO Medical, Inc.
HASCO Medical (www.HascoMed.com) provides products and services that dramatically improve the quality of living for its customers. The Company consists of Ride-Away, Mobility Freedom and Wheelchair Vans of America on the Van Conversion/Rental side of the company and Southern Medical and Mobility, Inc. and Certified Medical on the durable medical equipment side.

This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases you can identify those so-called "forward looking statements" by words such as "may," "will," "should," "expects," "plans," "targets," "believes," "anticipates," "estimates," "predicts," "potential," or "continue" or the negative of those words and other comparable words. These forward looking statements are subject to risks and uncertainties, product tests, commercialization risks, availability of financing and results of financing efforts that could cause actual results to differ materially from historical results or those anticipated. Further information regarding these and other risks is described from time to time in the Company's filings with the SEC, which are available on its website at: http://www.sec.gov. We assume no obligation to update or alter our forward-looking statements made in this release or in any periodic report filed by us under the Securities Exchange Act of 1934 or any other document, whether as a result of new information, future events or otherwise, except as otherwise required by applicable federal securities laws.



Contact:
Investor Relations for HASCO Medical, Inc.
Investor@HascoMed.com
214-302-0930





Source: Marketwire