Exhibit 99.2
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 30, 2005
CRDENTIA TO ACQUIRE HEALTH INDUSTRY PROFESSIONALS, LLC
DALLAS - MARCH 30, 2005 - CRDENTIA CORP. (OTCBB: CRDE), a leading U.S. provider
of healthcare staffing services, today announced that it has acquired Health
Industry Professionals, LLC, a provider of per diem nursing services throughout
the Detroit metropolitan area. Terms of the transaction were not released.
Founded in 1997, Health Industry Professionals has a strong existing client base
with major hospitals in the region and several local Fortune 500 companies where
it provides staffing for on-site private medical clinics. In addition to per
diem nursing services, the Company also offers hourly and private duty home care
services. Health Industry Professionals has a database of approximately 900
healthcare professionals and will continue to operate under the direction of
co-founders Matthew Cahillane and C. Michael Emery, who have joined Crdentia's
senior management team.
"I am very pleased to announce Crdentia's acquisition of Health Industry
Professionals," said Crdentia's Chairman and Chief Executive Officer James D.
Durham. "Health Industry Professionals is a well-run company with a strong local
reputation and an impressive customer base--all qualities we look for in
potential acquisition targets. As part of the Crdentia team, I believe we can
take Health Industry Professionals to the next level of growth while further
establishing the Crdentia footprint in a major metropolitan market."
In a joint statement, Health Industry Professionals co-founders Matthew
Cahillane and C. Michael Emery commented, "We are strong believers in Crdentia's
multidimensional approach to healthcare staffing services and feel that the
Health Industry Professionals brand will flourish as part of Crdentia. With
access to Crdentia's staffing resources and industry expertise, we are very
excited about the opportunity to expand our market leading position."
Commenting on the acquisition, Crdentia's President Pamela Atherton stated,
"Like many major cities across the country, Detroit is experiencing a severe
shortage of qualified healthcare workers resulting in a significant number of
unfilled staffing requests. We will look to augment Health Industry
Professional's strong per diem staffing services and local market acumen with
Crdentia's travel nurses to accelerate our growth prospects."
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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.
Health Industry Professionals represents one of two acquisitions recently
announced by Crdentia in 2005 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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