Bederra Corporation to acquire Basic Solutions

Sep 24 2009

Bederra Corporation (PINKSHEETS: BEDA), a Houston, TX-based diversified medical services provider, announced the company is in discussions to acquire Basic Solutions, Inc., a Houston, TX-based company specializing in mobile diagnostic services. The company had previously announced a Joint Venture agreement between the companies, however, it has become apparent to both parties that the acquisition of Basic Solutions would benefit both businesses.

Basic Solutions is an established and operational mobile diagnostic group that performs services such as Eko Cardiograms, Pulmonary Function tests, Vascular Studies and Event Monitoring to physicians offices, clinics, and nursing homes.

The advantage to each party is that this acquisition gives Bederra Corp. an opportunity to perform these services in-house at its Lumar Imaging and Reliant Medical Group Clinic facilities. The advantage for Bederra Corp. is that by acquiring Basic Solutions, it will now become an ICAVL certified facility and be able to gain further revenues under the "ICAVL" certification of the Reliant Medical facility. This certification is required by Medicare and some insurance companies in order to perform certain diagnostic tests that are paid for by these entities, allowing Reliant Medical facility access to a broadened client base. The annual budget of Medicare is approximately $500 billion with diagnostic testing a growing part of the budget.

The acquisition, when closed, would add an estimated $3-4 Million per year in gross revenues for Bederra.

Management also noted that its potential acquisition of Neogenex Medical Technologies is still open and undergoing customary due diligence review.