WASHINGTON, Ill., March 26, 2010 (GLOBE NEWSWIRE) -- Frank Bonadio, COO of SARS Corporation, a Nevada corporation d/b/a FasTech Holdings, Inc. ("SARS" or the "Company") (Pink Sheets:SARO), a Midwest HVAC, mechanical and electrical construction, plumbing and energy and infrastructure facilities management company, today provided an update on the several projects that its wholly owned subsidiary, FasTech Services, Inc. ("FasTech Services"), recently commenced in the healthcare sector. The projects, which include construction and service work at hospitals, clinics, diagnostic and research facilities in the Midwest, demonstrate FasTech Service's continuing position and construction expertise in the growing healthcare industry.
Mr. Bonadio commented, "The national population is aging and Fastech Services is here to provide the infrastructure and related services needed to serve the exacting, complex and mission critical systems and facilities that are so important throughout the healthcare industry -- and which will increasingly become even more important -- as this age demographic continues to grow."
Mark Swank, Chairman and CEO of SARS, elaborated, "Medical facilities -- including hospitals, biotech facilities and research labs -- are system-rich and aligned with our core competencies and expertise have long been a major part of our project portfolio. As this sector continues to grow, we expect to provide new buildings and services to this constantly-expanding sector for many years to come."
SARS's recently initiated healthcare-facilities projects include:
Decatur Memorial Center (Decatur, IL) – SARS wholly owned subsidiary, T.A. Brinkoetter and Sons, Inc., which was acquired through SARS' 2009 acquisition of several HVAC and construction companies and their consolidation into FasTech Services, was awarded contracts relating to construction for a new addition at one of the leading medical centers in the Midwest. SARS, through FasTech Services, will manage various aspects of the ordering, site analysis, logistics, startup processes, and all corrective and planned maintenance service activities for the new addition at Decatur Memorial Hospital's main facility, a leader in diagnostic imaging systems, healthcare information technology solutions, and patient monitoring and cardiac devices.
DMH Cancer Care Institute (Decatur, IL) –T.A. Brinkoetter and Sons was also awarded contracts relating to construction for a new CancerCare clinical building at Decatur Memorial Hospital's Clinical Research Department, the center of discovering, developing, and delivering state-of-the-art cancer treatments, and with research spearheaded by Dr. James Wade III, the medical director of DMH Cancer Institute.
Southern Illinois University School of Medicine (Springfield, IL) – RJ Power Plumbing and Heating Co., was recently awarded contracts relating to the HVAC and temperature controls for the hospital.
Taylorville Clinic (Taylorville, IL) – R.J. Power Plumbing & Heating was additionally awarded contracts relating to certain mechanical systems for the renovation at the main hospital.
Pana Hospital (Pana, IL) –T.A. Brinkoetter and Sons was also awarded construction contracts for a project at Pana Hospital, one of the largest downstate, Illinois, healthcare providers, which includes the physicians who comprise the Pana Medical Group and the Community Medical Clinic of Pana.
Mr. Bonadio reported that through FasTech Services, SARS has currently been invited to bid on over $100,000,000 of work, stating that, "although a contractor never wins all awards, some percentage of the bids will be awarded to the Company due to its longstanding excellent reputation for delivering superior services."
About SARS Corporation
SARS, d/b/a FasTech, is a control systems contracting and services company providing design and sales, installation services, and monitoring software to building owners and operators. We design, install, and service innovative systems to create comfortable, efficient environments and facilitate the use of systems automation and control monitoring in commercial spaces. Our integrated HVAC solutions reduce energy consumption and greenhouse gases while increasing operating efficiency. We offer software solutions that enable building owners and management companies to manage the "control" assets remotely. This high level of visibility means any problems can be resolved faster, maintaining occupant comfort and minimizing deviations from energy saving strategies. Benefits of FasTech systems include reduced operating costs, preserved system investments, increased equipment life, lowered maintenance costs, rapid problem identification, and improved operating efficiency.
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FasTech Services, Inc. ("FasTech Services"), a wholly owned subsidiary of FasTech, was formed by the consolidation of a conglomerate of mechanical and electrical construction, energy infrastructure, and facilities services companies that design, install, service and monitor innovative systems that create an efficient and comfortable facility environment. It installs building automation technology for commercial spaces in various industries, and monitors and controls these systems from off-site locations. FasTech Services specifically provides services for industrial, residential and commercial heating ventilation and air conditioning ("HVAC") systems as well as plumbing, piping and necessary fixtures. The individual companies acquired included Environmental Insulation, Inc., ESDD, LLC, Alternatech, Inc., Swank Enterprises, Inc. d/b/a Art & Print, Inc., Associated Mechanical, Inc. and R.J. Power Plumbing & Heating Company. For more information about FasTech, visit www.globenewswire.com/newsroom/ctr%3Fd=180668%26amp;l=7%26amp;a=www.fastech-inc.com%26amp;u=http%253A%252F%252Fwww.fastech-inc.com">www.fastech-inc.com.
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Safe Harbor: This Press Release contains forward-looking statements because context will include the words such as SARS "expects," "should," "believes," "anticipates" or words of similar import. Forward-looking statements are subject risks and uncertainties including the financial performance of SARS which could cause actual results, performance or achievements of SARS to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore. "Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are predictions and may differ materially from actual future events or results. SARS disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by SARS with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with our ability to: (i) increase revenues and gain profitability, (ii) collect payables, (iii) obtain financing necessary to restructure its current liabilities and long term debt obligations (iv) successfully integrate the business, book, records and management of the FasTech entities with that of SARS, (v) respond to actions of our competitors, (vi) develop new services and markets for our services, remain in compliance with regulatory rules and regulations and integrate such services with the products/services of co-joint ventures, and (vii) foresee and make necessary changes to our business strategies.