Quantum Plans to Buy Firm Based in Fresno

Quantum Health Resources Inc., a provider of therapies and support services to people with long-term, chronic illnesses, said Wednesday that it has tentatively agreed to purchase a Fresno-based competitor, Comprehensive Home Services Inc.

CHS specializes in home therapies and services for hemophiliacs.

Quantum Health Resources intends to acquire all outstanding shares of CHS stock in exchange for 525,000 shares of its own stock, giving the deal a value of about $9.2 million.

Quantum stock closed Wednesday at $17.25 per share, off 12.5 cents on the over-the-counter market.

The purchase will give Quantum a third base of operations in California to go along with its existing Riverside and Oakland locations, said James Nicol, senior vice president and chief financial officer.

“CHS is a business that is almost exclusively contained in California . . . and last year did $6.5 million in revenues,” Nicol said. “What it does is significantly strengthen our presence in the California market.”

Quantum posted revenue of about $40 million last year. Nicol declined to say how much business the company does in California, however.

The transaction is expected to close in early July, Nicol said, and CHS management will remain largely intact.

“We will continue to operate them as they’ve operated in the past,” he said.