Exhibit 99.1
NEWS BULLETIN RE: CRDENTIA CORP.
FROM: 14114 DALLAS PARKWAY,
FINANCIAL SUITE 600
RELATIONS BOARD DALLAS, TX 75254
OTCBB: CRDE
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For Further Information:
AT THE COMPANY: AT FINANCIAL RELATIONS BOARD:
James D. Durham Pamela Atherton Lasse Glassen
Chairman and CEO President 310-854-8313
972-850-0780 972-850-0780 lglassen@financialrelationsboard.com
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FOR IMMEDIATE RELEASE
March 29, 2005
CRDENTIA ACQUIRES TRAVMED USA, INC.
DALLAS - March 29, 2005 - Crdentia Corp. (OTCBB: CRDE), a leading U.S. provider
of healthcare staffing services, today announced that it has acquired TravMed
USA, Inc., a nationwide provider of travel and per diem nursing services. Terms
of the transaction were not released.
TravMed, based in Charlotte, North Carolina, has a database of 4,000 nurses and
currently has approximately 450 contracts with more than 1,200 healthcare
facilities. In addition, TravMed also has a Government Services Agreement (GSA)
to staff federal healthcare facilities operated by the Veterans Administration
and the Department of Defense. The Company has a broad geographic reach
providing its travel and per diem nursing staffing services in 49 states and the
District of Columbia. TravMed was founded in 1997 by Robert Litton and Steve
Williams. Robert Litton will continue to oversee the day-to-day operations of
TravMed and has joined the Crdentia senior management team.
"I am delighted to welcome TravMed to the Crdentia family," said Crdentia's
Chairman and Chief Executive Officer James D. Durham. "TravMed is a broad-based,
highly respected and well-known name in travel nursing. The combination of
TravMed with Crdentia's current travel nurse operation carves out a definitive
niche for our company in the travel nurse staffing industry. "
Robert Litton, co-founder of TravMed, commented "I am excited about joining
Crdentia and integrating the companies' travel nursing operations. I believe
that Crdentia's size and scope along with its unique multidimensional approach
to healthcare staffing services will provide opportunities that will allow
TravMed to grow faster than it would have on a stand-alone basis."
Crdentia's President Pamela Atherton stated, "TravMed's GSA contract is a
significant entry point for Crdentia into federal healthcare facilities and we
will look to expand this business as a combined company going forward. In
addition, consolidating the TravMed and existing Crdentia travel nurse
businesses will result in significant annual cost savings and operating
efficiencies that will improve our competitiveness in the marketplace."
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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.
TravMed USA, Inc. represents one of several recent acquisitions announced by
Crdentia focusing on healthcare staffing services. Founded in August 2002,
Crdentia successfully integrated four acquisitions in 2003 along with two
acquisitions in 2004. Crdentia currently 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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