Amedisys Announces Acquisition of Three Home Health Agencies
June 04 2007 - 9:00AM
PR Newswire (US)
BATON ROUGE, La., June 4 /PRNewswire-FirstCall/ -- Amedisys, Inc.
(Nasdaq: "AMED" or the "Company"), one of America's leading home
health nursing companies, today announced that it has acquired
three home health agencies. Amedisys has acquired an agency located
in Oak Park, Illinois, a suburb of Chicago. The agency was
previously owned by Patient Care, Inc., and is expected to
contribute approximately $10 million in annualized revenues. "The
Chicago metropolitan area has a population of almost one million
who are 65 years of age or older, making it the fourth largest
elderly market in the nation. With this acquisition, we now have
seven locations in this attractive demographic market place," said
William F. Borne, Chief Executive Officer of Amedisys, Inc. The
Company also announced that it has acquired an agency in Lancaster,
Pennsylvania previously owned by Lancaster Regional Medical Center.
This agency is expected to add approximately $3 million in
annualized revenues. "We are excited about the attractive
demographics of Lancaster County and in Pennsylvania as a whole,"
stated Mr. Borne. "This acquisition marks our first entrance into
Pennsylvania and now gives us a presence in twenty-two states. We
are excited about our continued expansion from our traditional
Southeastern base of operations and we continually evaluate those
opportunities that meet our strategic direction." Additionally,
Amedisys disclosed that it has acquired an agency in Baltimore
County, Maryland which is expected to generate less than $1 million
in annualized revenue. This agency was previously owned by Interim
Healthcare of Baltimore, Inc. "We are equally excited about this
opportunity as it builds on our existing presence in this
Certificate of Need state by expanding coverage to three new
counties," stated Mr. Borne. The three transactions are not
expected to add materially to 2007 earnings. Terms of the
acquisitions were not disclosed. Amedisys, Inc. is headquartered in
Baton Rouge, Louisiana. Its common stock trades on the Nasdaq
Global Select Market under the symbol "AMED". This press release
includes statements that may constitute "forward- looking"
statements, usually containing the words "believe", "estimate",
"project", "expect" or similar expressions. Forward-looking
statements inherently involve risks and uncertainties that could
cause actual results to differ materially from the forward-looking
statements. Factors that would cause or contribute to such
differences include, but are not limited to, continued acceptance
of the Company's services in the marketplace, competitive factors,
changes in government reimbursement procedures, dependence upon
third-party vendors, and other risks discussed in the Company's
periodic filings with the Securities and Exchange Commission. By
making these forward- looking statements, the Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release. Additional information on the
Company can be found at: http://www.amedisys.com/ Contact:
Amedisys, Inc. Amedisys, Inc. Senior Vice President - Finance Chief
Financial Officer Thomas J. Dolan Dale E. Redman 225.292.2031
225.292.2031 DATASOURCE: Amedisys, Inc. CONTACT: Thomas J. Dolan,
Senior Vice President - Finance, , or Dale E. Redman, Chief
Financial Officer, , both of Amedisys, Inc., +1-225-292-2031 Web
site: http://www.amedisys.com/
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