NEWPORT BEACH, Calif., Oct. 18, 2011 /PRNewswire via COMTEX/ — Smart-Tek Solutions, Inc., (otc markets:STTN) is pleased to announce the successful closing of the acquisition of Solvis Medical Group from American Marine, LLC, a Montana LLC. , as previously announced on September 20, 2011. Solvis Medical Staffing and Solvis Medical provide medical staffing service to hospitals, medical clinics, surgical centers, and skilled nursing facilities; and, in certain cases, nursing care to patients in their homes. Solvis Physical Therapy, Inc. is a licensed provider of physical therapy services but is presently inactive. Solvis Medical Group is estimating over $4 million in revenue with net income before taxes of approximately $300K for the year ending December 31, 2011.
Mr. Bonar, Chairman and CEO, stated that this acquisition not only provides additional revenue and income for the Company but also as important, provides valued operating systems for personnel staffing management as well as opens an additional market for the Company to offer other staffing services including janitorial, administration, accounting personnel, and the like.
The Company has retained independent accountants to audit the balance sheet and income statements of Solvis Medical and will release the pro forma impact of this acquisition together with the audited financial statements of Solvis Medical within seventy days of this release.
By Tim Spagnola
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