STUART, FL--(Marketwire - 10/14/09) - Liberator Medical Holdings, Inc. today announces the upcoming expansion of its wholly owned subsidiary Liberator Medical Supply. Liberator will increase its operations into an additional building and expedite hiring of previously announced jobs.
"There has been a significant increase in demand for our products and services," said Mark Libratore, founder and CEO of Liberator Medical Holdings. "We have filled our headquarters facility to capacity to keep up with this demand."
Liberator plans to lease Building 30 at Martin County Airport/Witham Field from Martin County. The building, an approximately 24K square foot facility, has been vacant since 2008. A formal public bid process for lease of the building was performed and Liberator's plan was approved by the Martin County Board of County Commissioners (BCC) during their meeting on October 13. County staff subsequently recommended to the BCC that Liberator be awarded the lease effective October 14.
The company announced plans in March 2009 to hire 200 new employees over a two year period. Since that announcement, 65 people have already been hired with 25 more hires during the month of October. Liberator anticipates reaching 200 new hires well ahead of March 2011 and could exceed those projections if growth continues at its current pace.
"Liberator's expansion is a winning situation for everyone," said Ron Bunch, Executive Director of the Business Development Board of Martin County. "The County will enjoy lease revenue on their building, the company is able to be efficient in its expansion, and more Research Coast residents can go to work."
"We greatly enjoy our relationship with Martin County and feel encouraged by their support of our business growth," said Mark Libratore. "We appreciate their willingness to work with us on our expansion, and for the assistance given by the BDB. The entire team made the process of locating a building and negotiating a fair lease much easier."
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About Liberator Medical Holdings, Inc.
Liberator Medical Holdings, Inc.'s subsidiary, Liberator Medical Supply, Inc., established the Liberator brand as a leading national direct-to-consumer provider of quality medical supplies to Medicare-eligible seniors. An Exemplary Provider(TM) accredited by The Compliance Team, its unique combination of marketing, industry expertise and customer service has demonstrated success over a broad spectrum of chronic conditions. Liberator is recognized for offering a simple, reliable way to purchase medical supplies needed on a regular, ongoing, repeat-order basis, with the convenience of direct billing to Medicare and private insurance. Approximately 85% of its revenue comes from supplying products to meet the rapidly growing requirements of general medical supplies, personal mobility aids, diabetes, urological, ostomy and mastectomy patients. Liberator communicates with patients and their doctors on a regular basis regarding prescriptions and supplies. Customers may purchase by phone, mail or internet, with repeat orders confirmed with the customer and shipped when needed.
About the BDBMC
The Business Development Board of Martin County is the county's official economic development organization, and Enterprise Florida, Inc. partner. More information about the organization can be found by visiting www.bdbmc.org.
Safe Harbor Statement
Certain statements in this press release that are not historical, but are forward-looking, and are subject to known and unknown risks and uncertainties which may cause the Company's actual results in future periods to be materially different from any future performance that may be suggested in this press release. Such risks and uncertainties may include, but are not limited to, the Company's need to raise equity capital and its ability to obtain equity financing on acceptable terms, if at all, regulatory limitations on the medical industry in general, working capital constraints, fluctuations in customer demand and commitments, fluctuation in quarterly results, introduction of new services and products, commercial acceptance and viability of new services and products, pricing and competition, reliance upon subcontractors and vendors, the timing of new technology and product introductions, the risk of early obsolescence of our products and the other factors listed under "Risk and Uncertainties" in our annual report on Form 10-KSB for the fiscal year ended September 30, 2008 and our other filings with the Securities and Exchange Commission. We assume no obligation to update the information contained in this news release.
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