SOURCE: HASCO Medical, Inc.

HASCO Medical, Inc.

July 02, 2014 08:31 ET

HASCO Medical Completes Certified Medical Divestiture, Becomes Pure-Play Vehicular Mobility Provider

ADDISON, TX and OCALA, FL--(Marketwired - Jul 2, 2014) - HASCO Medical, Inc. (OTCQB: HASC), a leading provider of handicap-accessible vans, parts and service, has sold its Certified Medical business in Ocala, Florida for an undisclosed amount to a private company.

"The divestiture represents our complete departure from the durable medical equipment business, and makes HASCO the only public company operating in the retail market for handicap-accessible vehicles," said Hal Compton, CEO of HASCO Medical. "The sale allows us to focus on our leading mobility brands, and we plan to invest the proceeds in the further development of our higher margin, higher growth vehicular mobility solutions and expansion of our dealership network."

About HASCO Medical, Inc.
HASCO Medical is a leading provider of handicap accessible vans, parts, and service that dramatically improve the quality of living of its customers. The company operates 19 locations from Maine to Florida. The company's mobility brands include Ride-Away (www.Ride-Away.com), Auto Mobility Sales (www.automobilitysales.com), Mobility Freedom (www.MobilityFreedom.com) and Wheelchair Vans of America (www.wcvans.com). To learn more, go to www.hascomed.com.

Cautionary Note Regarding Forward-Looking Statements
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 Information

  • Company Contact:
    HASCO Medical, Inc.
    214-302-0930
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    Investor Relations Contacts:
    Liolios Group, Inc.
    Ron Both, Senior Managing Director
    949-574-3860
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