Company Targets Healthcare Industry Acquisitions
FRAMINGHAM, MA / ACCESSWIRE / March 31, 2020 / KYN Capital Group, Inc. (OTC PINK:KYNC) is pleased to announce the company has entered into a Letter of Intent.
The target company is a leading provider of home healthcare services in northern New Jersey. Services offered include companion care, personal care, 24 hour care, Alzheimer's and Dementia Care, homemaker's services and transportation.
U.S. Census data projects that 8,000 people are reaching the age of 65 each day and there will be 57.8 million 'baby boomers' reaching senior age by the year 2030. The need for private duty in-home care will continue to grow with our aging population. The New Jersey market is experiencing major growth in home care services for the elderly and there is an expanding need for these services.
The target company is one of a few accredited in the region it serves. The state has limited accreditation for these services. This allows the company to capture considerable market share with few competitors.
The company's gross revenue for 2019 was $1.4 million and the company has seen, on average, 30% growth year over year.
Stated KYN CEO, Phil Sands: 'This opportunity presents a solid acquisition for the KYN books and I anticipate closing very shortly. I will continue to keep shareholders informed on our progress.'
Forward Looking Statements:
This press release contains forward-looking statements. The words 'believe,' 'may,' 'estimate,' 'continue,' 'anticipate,' 'intend,' 'should,' 'plan,' 'could,' 'target,' 'potential,' 'is likely,' 'will,' 'expect' and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: KYN Capital Group, Inc.
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