Pediatric Services OF America (NASDAQ:PSAI)
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From Jun 2019 to Jun 2024
Pediatric Services of America, Inc., d/b/a PSA Healthcare (Nasdaq:PSAI)
announced today that it has acquired select pediatric assets of The Care
Group of Texas, Inc. (“TCGOT“).
The acquisition includes TCGOT’s pediatric
private duty nursing business in the Houston, Texas market. PSA will
consolidate TCGOT’s pediatric nursing patients
into its existing Houston operations which include the recently acquired
Maternal Child Health (“MCH“)
business. The purchase price is approximately $2,900,000 in cash with
TCGOT retaining its accounts receivable. TCGOT’s
pediatric nursing net revenue for the trailing twelve months totals
approximately $4.4 million.
President and CEO Daniel J. Kohl commented “We
are very excited by the opportunity to acquire the TCGOT pediatric
nursing assets in the Houston market and the ability to consolidate
these operations and gain further market density is very attractive to
us.“ TCGOT will continue their remaining
pediatric service programs including ventilator/respiratory management,
DME and rehabilitation services.
PSA provides comprehensive pediatric home health care services through a
network of 59 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.