May 13, 2009 (FinancialWire) — Universal Capital Management, Inc. (OTCBB: UCMT) (Current Market Cap: US$2.44 Mil.) said that one of its holdings, iVolution Medical Systems, Inc., has acquired Continental Collection Services, a medical collection service company located in

According to Universal Capital, the acquisition allows iVolution to offer its clients collection experience in the medical field. It added that the deal supports iVolution’s consolidation strategy of buying already established medical billing and collection companies that will be immediately accretive to earnings.

The terms of the completed transaction included cash and seller-financed debt.

Delaware-based Universal Capital Management is a business development company whose purpose is to assist its portfolio companies with funding and management to facilitate growth and increase their value.

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