EXHIBIT 99.1
NEWS BULLETIN RE: CRDENTIA CORP.
FROM: 14114 DALLAS PARKWAY,
SUITE 600
FINANCIAL DALLAS, TX 75354
RELATIONS BOARD OTCBB: CRDE
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For Further Information:
AT THE COMPANY: AT FINANCIAL RELATIONS BOARD:
James D. Durham Pamela Atherton Moira Conlon
CEO and Chairman President (310) 407-6524
972-850-0780 972-850-0780 mconlon@financialrelationsboard.com
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FOR IMMEDIATE RELEASE
CRDENTIA ACQUIRES CARE PROS STAFFING INC.;
REPORTS CLOSING OF ARIZONA HOME & HEALTHCARE ACQUISITION
DALLAS - SEPTEMBER 7, 2004 - CRDENTIA CORP. (OTCBB: CRDE), a leading U.S.
provider of healthcare staffing services, today announced its acquisition of
Care Pros Staffing, Inc., a per diem medical staffing provider serving the rural
North Central Texas market. The Company also reported the closing of its
acquisition of Arizona Home & Healthcare, a per diem and private duty healthcare
staffing provider serving the Phoenix and Tucson metro market regions.
Commenting on the Care Pros Staffing acquisition, President Pamela Atherton
stated, "Care Pros Staffing's per diem registry complements Crdentia's existing
operations in the Dallas Metroplex and surrounding markets. This acquisition
supplies the expertise and acumen necessary for Crdentia to effectively service
hospitals and nursing homes in rural Texas and build our presence in those rural
markets surrounding our existing and future operational hubs in large
metropolitan cities. As part of our overall expansion strategy, this is a
valuable acquisition that adds a distinct skill set to our widely diversified
product and service line. Care Pros Staffing is a successful and reputable brand
with strong contracts in its markets, and we enthusiastically welcome Dan Ross
and his team to Crdentia's growing network."
Founded in 2001 by President Dan Ross, Care Pros Staffing has offices in
McKinney, a Dallas suburb, and Temple, a rural community located in Central
Texas. Care Pros Staffing specializes in the serving the unique dynamics of the
rural healthcare staffing marketplace including community hospitals and nursing
homes. Care Pros Staffing will continue to operate under the direction of Dan
Ross who has been named Vice President of Crdentia's Dallas market region.
Dan Ross commented, "We are thrilled with the opportunity to join forces with
Crdentia in the North Central Texas market. With Crdentia's multidimensional
services including travel nursing, international, private duty, as well as per
diem, the combination of expertise and resources adds significant value to our
operations and client relationships."
-more-
Atherton noted that Care Pros meets substantially all of the acquisition
criteria per Crdentia's stated expansion plan including synergistic geographic
focus, proven expertise in a select staffing segment, strong market reputation
and management, and a substantial contract base. The transaction is expected to
be immediately accretive to Crdentia's operating performance in fiscal 2004.
More information about Care Pros Staffing, Inc is available at
www.careprostaffing.com.
Following the announcement last week of its entry into an agreement to acquire
Arizona Home & Healthcare, Crdentia also today reported the closing of the
transaction effective August 31, 2004. Arizona Home & Healthcare's per diem and
private duty healthcare staffing businesses have nearly 300 nurses under
contract serving a diverse base of more than 100 Arizona based clients. The
company's contracts represent Arizona's predominant areas of medical staffing
needs including workers' compensation, hospital staffing, behavioral health,
prisons, corrections and private duty home care.
The Arizona Home & Healthcare and Care Pros Staffing acquisitions are two of
several acquisitions planned by Crdentia during 2004 focusing on per diem and
private duty staffing. Founded in August 2002, Crdentia successfully integrated
four acquisitions in 2003 and, including Arizona Home & Healthcare and Care Pros
Staffing, now staffs approximately 500 nurses through nine domestic offices and
one office in the Philippines. Crdentia ranks among the 10 largest healthcare
staffing providers in the U.S. market.
ABOUT CRDENTIA CORP.
Crdentia Corp. is one of the nation's leading providers of healthcare staffing
services. Crdentia seeks to capitalize on an opportunity that currently exists
in the healthcare industry by targeting the critical nursing shortage issue.
There are many small, private companies that are addressing the rapidly
expanding needs of the healthcare industry. Unfortunately, due to their
relatively small capitalization, they are unable to maximize their potential,
obtain outside capital or expand. By consolidating well-run small private
companies into a larger public entity, Crdentia intends to facilitate access to
capital, the acquisition of technology, and expanded distribution that, in turn,
drive internal growth. For more information, visit www.crdentia.com.
FORWARD LOOKING STATEMENTS
Statements contained in this release that are not historical facts are
forward-looking statements that involve risks and uncertainties. Among the
important factors which could cause actual results to differ materially from
those in the forward-looking statements include, but are not limited to, those
discussed in "Risk Factors" in the Company's Forms 10-KSB, Forms 10-QSB, and
other filings with the Securities and Exchange Commission. Such risk factors
include, but are not limited to, a limited operating history with no earnings;
reliance on the Company's management team, members of which have other business
interests; the ability to successfully implement the Company's business plan;
the ability to continue as a going concern; the ability to fund the Company's
business and acquisition strategy; the growth of the temporary healthcare
professional staffing business; difficulty in managing operations of acquired
businesses; uncertainty in government regulation of the healthcare industry; and
the limited public market for the Company's common stock. The actual results
that the Company achieves may differ materially from any forward-looking
statements due to such risks and uncertainties. We undertake no obligation to
revise or update publicly any forward-looking statements for any reason.
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Financial Relations Board serves as financial relations counsel to this company,
is acting on the company's behalf in issuing this bulletin and receiving
compensation therefor. The information contained herein is furnished for
information purposes only and is not to be construed as an offer to buy or sell
securities.