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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/