NU Online News Service, June 26, 1:55 p.m. – Continental Home Healthcare Ltd., Glendale, Calif., today announced the acquisition of nearly all the assets of Medical Mart of Las Vegas, Nevada, a home medical business with current annual revenues of $1.4 million.
Continental acquired the assets and liabilities of the company with no cash payments for a net purchase price of $180,000 in debt, the company says. The purchase price is likely to be reduced further as a result of negotiations concerning vendor agreements.
The principal and founder of Medical Mart, Tom Gray, will remain with Continental, the company says.
Medical Mart has operated in Las Vegas for 19 years and specializes in rehabilitation products and supply of ostomy, urological and wound-care products.