Pediatric Services OF America (NASDAQ:PSAI)
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Pediatric Services of America, Inc., d/b/a PSA Healthcare (Nasdaq:
PSAI) announced today that it has signed an Agreement to acquire
certain of the assets of Americare At Home, Inc. a Massachusetts
corporation (“Americare”).
The acquisition will include certain of Americare’s
pediatric nursing locations in the Shrewsbury and Newton, Massachusetts
markets. The purchase price is approximately $1.4 million in cash with
Americare retaining its accounts receivable. Americare’s
annualized net pediatric revenue, all of which is being acquired by PSA,
totals approximately $2.7 million. We expect the closing date of the
transaction to occur in January 2007.
“We are excited to further expand our presence
in the Massachusetts market through this acquisition,”
said Daniel J. Kohl, President and CEO of PSA. “We
continue to evaluate a number of opportunities available in attractive
markets and remain focused on executing our acquisition strategy within
the private duty nursing segment.”
PSA provides comprehensive pediatric home health care services through a
network of 54 branch offices in 18 states, including satellite offices
and branch office start-ups. Through these offices PSA provides a
combination of services, including pediatric private duty nursing (PDN)
and pediatric day treatment centers (PPECs). Additional information on
PSAI may be found on the Company's website at http://www.psahealthcare.com.
NOTE: This press release contains certain forward-looking
statements (as such term is defined in the Private Securities Litigation
Reform Act of 1995) relating to future financial performance of
Pediatric Services of America, Inc. (the “Company”).
When used in this press release, the words “may,”
“targets,”
“goal,” “could,”
“should,” “would,”
“believe,” “feel,”
“expects,” “confident,”
“anticipate,” “estimate,”
“intend,” “plan,”
“potential” and
similar expressions may be indicative of forward-looking statements. These
statements by their nature involve substantial risks and uncertainties,
certain of which are beyond the Company’s
control. The Company cautions that various factors, including the
factors described hereunder and those discussed in the Company’s
other filings with the Securities and Exchange Commission, as well as
general economic conditions, industry trends, the Company's
anticipated uses of the proceeds from the sale of its Respiratory and
Pharmacy Businesses, the Company's ability to assimilate
and manage previously acquired field operations, collect accounts
receivable, including receivables related to acquired businesses and
receivables under appeal, hire and retain qualified personnel and comply
with and respond to billing requirements issues, including those related
to the Company’s billing and collection
system, nurse shortages, competitive bidding, HIPAA regulations, adverse
litigation, workers’ compensation losses,
availability and cost of medical malpractice insurance and any potential
reduced state funding levels and nursing hours authorized by Medicaid
program, could cause actual results or outcomes to differ materially
from those expressed in any forward-looking statements of the Company
made by or on behalf of the Company. Any forward-looking
statement speaks only as of the date on which such statement is made,
and the Company undertakes no obligation to update any forward-looking
statement or statements to reflect events or circumstances after the
date on which such statement is made or to reflect the occurrence of an
unanticipated event. New factors emerge from time to time, and it
is not possible for management to predict all of such factors. Further,
management cannot assess the impact of each such factor on the business
or the extent to which any factor, or combination of factors, may cause
actual results to differ materially from those contained in any
forward-looking statements.
Pediatric Services of America, Inc., d/b/a PSA Healthcare (Nasdaq:
PSAI) announced today that it has signed an Agreement to acquire
certain of the assets of Americare At Home, Inc. a Massachusetts
corporation ("Americare"). The acquisition will include certain of
Americare's pediatric nursing locations in the Shrewsbury and Newton,
Massachusetts markets. The purchase price is approximately $1.4
million in cash with Americare retaining its accounts receivable.
Americare's annualized net pediatric revenue, all of which is being
acquired by PSA, totals approximately $2.7 million. We expect the
closing date of the transaction to occur in January 2007.
"We are excited to further expand our presence in the
Massachusetts market through this acquisition," said Daniel J. Kohl,
President and CEO of PSA. "We continue to evaluate a number of
opportunities available in attractive markets and remain focused on
executing our acquisition strategy within the private duty nursing
segment."
PSA provides comprehensive pediatric home health care services
through a network of 54 branch offices in 18 states, including
satellite offices and branch office start-ups. Through these offices
PSA provides a combination of services, including pediatric private
duty nursing (PDN) and pediatric day treatment centers (PPECs).
Additional information on PSAI may be found on the Company's website
at http://www.psahealthcare.com.
NOTE: This press release contains certain forward-looking
statements (as such term is defined in the Private Securities
Litigation Reform Act of 1995) relating to future financial
performance of Pediatric Services of America, Inc. (the "Company").
When used in this press release, the words "may," "targets," "goal,"
"could," "should," "would," "believe," "feel," "expects," "confident,"
"anticipate," "estimate," "intend," "plan," "potential" and similar
expressions may be indicative of forward-looking statements. These
statements by their nature involve substantial risks and
uncertainties, certain of which are beyond the Company's control. The
Company cautions that various factors, including the factors described
hereunder and those discussed in the Company's other filings with the
Securities and Exchange Commission, as well as general economic
conditions, industry trends, the Company's anticipated uses of the
proceeds from the sale of its Respiratory and Pharmacy Businesses, the
Company's ability to assimilate and manage previously acquired field
operations, collect accounts receivable, including receivables related
to acquired businesses and receivables under appeal, hire and retain
qualified personnel and comply with and respond to billing
requirements issues, including those related to the Company's billing
and collection system, nurse shortages, competitive bidding, HIPAA
regulations, adverse litigation, workers' compensation losses,
availability and cost of medical malpractice insurance and any
potential reduced state funding levels and nursing hours authorized by
Medicaid program, could cause actual results or outcomes to differ
materially from those expressed in any forward-looking statements of
the Company made by or on behalf of the Company. Any forward-looking
statement speaks only as of the date on which such statement is made,
and the Company undertakes no obligation to update any forward-looking
statement or statements to reflect events or circumstances after the
date on which such statement is made or to reflect the occurrence of
an unanticipated event. New factors emerge from time to time, and it
is not possible for management to predict all of such factors.
Further, management cannot assess the impact of each such factor on
the business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any forward-looking statements.