Horizon Health (NASDAQ:HORC)
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Horizon Health Corporation (NASDAQ/NM:HORC) announced
today that it has increased its revolving credit facility from $125
million to $175 million, which will provide the Company more
flexibility in executing its acquisition strategy. In connection with
this amendment, SunTrust Bank was added to the Company's existing
banks, which include JPMorgan Chase Bank (which also serves as agent);
Bank of America, National Association; Wells Fargo Bank, National
Association; Key Bank, National Association; Wachovia Bank, National
Association; and Amegy Bank, National Association. The facility is
available for acquisitions and working capital purposes. The term of
the amended revolving credit facility expires May 31, 2010.
Mr. Ken Newman, chairman and chief executive officer of Horizon
Health Corporation, said, "The Company appreciates the continued
support of its existing bank group and the new relationship with
SunTrust Bank. This will enhance the Company's ability to pursue
growth through acquisitions."
Horizon Health Corporation is an owner of behavioral health care
facilities and a leading contract manager of clinical services for
acute care hospitals and employers.
The statements contained herein based on future expectations
rather than on historical facts are forward-looking statements as
defined under the Private Securities Litigation Reform Act of 1995
that involve a number of risks and uncertainties. Factors that could
cause actual results to differ materially from those in any such
forward-looking statements include, but are not limited to, the
ability to consummate additional acquisitions, the ability to
integrate the existing operations of the hospital on a cost-effective
basis, adverse changes in reimbursement to psychiatric hospitals by
federal and state health care programs and other third-party payors
and various other risks as outlined in Horizon's Securities and
Exchange Commission filings. There can be no assurance that statements
made in this press release relating to future events will be achieved.
The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.