NEW YORK, NY and TOKYO, JAPAN--(Marketwired - Nov 29, 2016) - Southern Home Medical Inc. (OTC PINK: SHOM), a leading developer in the Healthcare Industry, has announced today that its subsidiary KC Holdings, Inc. has received approval from TB Group, Inc. for a $180 million dollar company credit line. The approved credit line is to be used for general corporate purposes, including capital expenditures related to developing its vital monitoring wearable systems (VMWS) and other health monitoring products.
TB Group, Inc. is providing this new company credit line to allow KC to make impactful advances in vital monitoring wearable systems (VMWS) and health monitoring services. This credit line will allow the company to procure new contracts, attend conferences and cover general operating expenses essential to opening the global markets for SHOM and KC health monitoring products and services.
George Chang, Chief Executive Officer of SHOM, commented, "The credit line will provide strong capital support for our current projects and company expenses. With an increased business capital, our company will be allowed more flexibility in pursuing economic growth. With our combined efforts and resources, I can only expect both companies to continue growing in a promising relationship that is mutually beneficial."
About Southern Home Medical, Inc.: Southern Home Medical, Inc. is a Holding Company with a focus on servicing the needs of the Healthcare Industry. SHOM will continue to leverage the success of their businesses in order to expand sales opportunities in other locations throughout the country with health, medical and equipment needs.
Forward-Looking Statements: This release contains certain "forward-looking statements" relating to the business of the Company. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov).
All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.