ABM Acquires HHA Services
ABM Acquires HHA Services
HHA to Strengthen ABM's Healthcare Service Capabilities
HHA, when combined with ABM's existing healthcare services, which include Healthcare Parking Systems of America, environmental services, clinical engineering, energy solutions, facility services and security, will create the most comprehensive set of solutions available from a single provider in the healthcare services market. The move will not only increase ABM's service offerings but also expand ABM's geographic footprint.
Founded in 1974, HHA, which generates annual revenues of approximately
- Environmental Services: Includes housekeeping, laundry and linen services and internal patient transportation
- Plant Operations and Maintenance: Includes engineering and general maintenance
- Food and Nutrition: Includes patient dining, senior dining, retail services, clinical nutrition, and food service consulting
"We're very excited about the opportunities HHA brings to ABM and its
Slipsager continued: "HHA is a great fit for our organization because its array of expert services complements ABM's and because of its respected brand in the healthcare community. In addition, we're able to expand our services to include food and nutrition, housekeeping and patient transport, all of which ensure we solve more needs for our existing and future clients. We're very pleased to have HHA join ABM today as we strive to be the leader in providing integrated facility solutions for healthcare clients."
HHA's management team, led by President
"ABM and HHA share the common goal of providing world-class, cost-effective integrated healthcare services," said Bowen. "This move to become a part of the ABM family provides HHA with the depth of capital to compete at the highest levels in the marketplace. ABM is fully committed to succeeding in the health services market, and we have the expertise and resources to help make it happen."
ABM expects the transaction to be slightly accretive in fiscal 2013.
Cautionary Statement under the Private Securities Litigation Reform Act of 1995
This press release contains forward-looking statements that set forth
management's anticipated results based on management's current plans and
assumptions. Any number of factors could cause the Company's actual
results to differ materially from those anticipated. These factors
include but are not limited to the following: (1) we may not be able to
achieve the strategic and other objectives related to the acquisition of
ABM (NYSE:ABM) is a leading provider of integrated facility solutions.
Thousands of commercial, industrial, government and retail clients
outsource their non-core functions to ABM for consistent quality service
that meets their specialized facility needs. ABM's comprehensive
capabilities include expansive facility services, energy solutions,
commercial cleaning, maintenance and repair, HVAC, electrical,
landscaping, parking and security, provided through stand-alone or
integrated solutions. With more than
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