Kerala Ayurveda Ltd, one of the leading ayurveda and healthcare companies in India, on October 22, 2007 has announced that its newly incorporated subsidiary CMS-Katra Holdings LLC, USA has acquired a 51% equity stake in US-based CMS-Katra Nursing LLC, which is acquiring the entire business and assets of CMS Inc, a leading healthcare staffing Company based in Florida, USA, with a strong focus in hospitals and other healthcare facilities through placement of credentialed pool of foreign nurses.
CMS is a leading healthcare staffing company in the United States, with over 20 years of experience in the industry. The investment in CMS will augment the Company’s presence in the nursing vertical and provide access to leading hospitals and other healthcare facilities in the US for rolling out the Company’s products and services. CMS has a strong management team, client base, and client relations, which will provide numerous synergistic opportunities both for the Indian capabilities and address the increasing demand in the US healthcare market.
CMS is an authorized healthcare staffing Company which serves the needs of some of the leading hospitals in the United States. CMS is based in Miami, Florida and has a representative office in Manila, Philippines. CMS focuses on providing staffing solutions, nurse training and credentialing services and support to healthcare Companies in the US. With a marquee client base and more than 30 professionals located in the US and Philippines, CMS had annual revenues in excess of US$3.5 million and expected to increase to over US$5 million in the foreseeable future.
Source: Equity Bulls