Pediatric Services OF America (NASDAQ:PSAI)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Pediatric Services OF America Charts. Click Here for more Pediatric Services OF America Charts.](/p.php?pid=staticchart&s=N%5EPSAI&p=8&t=15)
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 Melmedica Children's
Healthcare, Inc., an Illinois corporation ("Melmedica"). The
acquisition will include certain of Melmedica's pediatric nursing
businesses in Schaumberg, Oak Lawn, Bloomington, Collinsville and
Country Club Hills, Illinois, as well as a business located in
Indianapolis, Indiana. The purchase price is approximately $1.6
million in cash with Melmedica retaining its accounts receivable.
Melmedica's consolidated net revenue for the year ended December 31,
2005 was approximately $10.8 million. We expect the closing date of
the transaction to occur during the Company's third quarter or early
in the fourth quarter, subject to customary closing conditions.
"We are excited to further expand our presence in the Illinois
market through this acquisition," said Daniel J. Kohl, President and
CEO of PSA. "We continue to see 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 over 100 branch offices in 19 states, including
satellite offices and branch office start-ups. Through these offices
PSA provides a combination of services, including pediatric private
duty nursing (PDN), pediatric day treatment centers (PPECs) and
respiratory therapy and equipment services (RTES). Additional
information on PSAI may be found on the Company's website at
http://www.psakids.com.
NOTE: Forward looking statements made in this release involve a
number of risks and uncertainties, certain of which are beyond our
control, including, but not limited to changes in government
regulation and health care reforms, ability to execute the Company's
strategic programs, ability to improve accounts receivable
collections, changing economic and market conditions and other risk
factors detailed in the Company's Securities and Exchange Commission
filings. Any forward looking statement speaks only as of the date on
which such statement is made, and we undertake 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.