Amedisys Announces Definitive Agreement to Acquire Professional Profiles, Inc.
August 01 2016 - 07:00AM
Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home
health care and hospice companies, today announced that it has
signed a definitive agreement to acquire Professional Profiles,
Inc., a personal care company with corporate headquarters in
Danvers, Massachusetts. Under the terms of the agreement, Amedisys
will acquire substantially all of the assets of Professional
Profiles, Inc., for $4.4 million. The transaction is expected to
close on September 1, 2016.
Professional Profiles, Inc., founded in 1988, provides
non-medical services that range from personal care to personal
shopping, heavy chores and major cleanouts. With 384 employees, the
Company has branch offices in Brookline, Melrose and Lowell, and
covers all of Eastern Massachusetts. It delivers care to
approximately 1,000 clients per year and generates approximately
$9.7 million in annualized revenues.
“This transaction solidifies our footprint in Massachusetts,
building on our March acquisition of Associated Home Care, the
leading personal care company in Greater Boston,” stated Amedisys
President and Chief Executive Officer Paul Kusserow. “It also takes
us yet another key step closer to achieving our long-term strategy
in adding personal care to complement our home health and hospice
businesses in Massachusetts.”
“We are thrilled to join the Amedisys family,” said Edward F.
Kittredge, founder and president of Professional Profiles, Inc.
“We’ll have the opportunity to tap into the clinical expertise and
corporate infrastructure of a leading home healthcare provider and
drive towards the vision of providing truly integrated at home care
in Massachusetts.”
“The acquisition of another highly successful personal care
company extends the continuum of care for patients in a region
where Amedisys has already established a strong presence in home
health and hospice,” said Mike Trigilio, President of Amedisys’ new
Personal Care Division and executive leader of Associated Home
Care. “Being able to care for a wider spectrum of clinical needs
will bring extra value to our clients, their families and payers
alike, as well as expanding the scope of our collective
businesses.”
Amedisys will provide further detail during its second quarter
2016 earnings conference call.
About Amedisys: Amedisys, Inc. is a leading
healthcare at home Company delivering personalized home health,
hospice and personal care. Amedisys is focused on delivering the
care that is best for our patients, whether that is home-based
personal care; recovery and rehabilitation after an operation or
injury; care focused on empowering them to manage a chronic
disease; or hospice care at the end of life. More than 2,200
hospitals and 61,900 physicians nationwide have chosen Amedisys as
a partner in post-acute care. Founded in 1982, headquartered in
Baton Rouge, LA with an executive office in Nashville, TN, Amedisys
is a publicly held company. With more than 16,000 employees, in 421
care centers in 34 states, Amedisys is dedicated to delivering the
highest quality of care to the doorsteps of more than 340,000
patients in need every year. For more information about the
Company, please visit: www.amedisys.com.
We use our company website as a channel of distribution for
important company information. Important information, including
press releases, analyst presentations and financial information
regarding the Company is routinely posted on and accessible on the
“Investor Relations” subpage of our website, which is accessible by
clicking on the tab labeled “Investors” on our website home page.
We will also use our website to expedite public access to
time-critical information regarding the Company in advance of or in
lieu of distributing a press release or a filing with the
Securities and Exchange Commission (“SEC”) disclosing the same
information. In addition, we make available on the Investor
Relations subpage of our website (under the link “SEC filings”)
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on Form 10-Q, current reports on Form 8-K, ownership reports on
Forms 3, 4 and 5 and any amendments to those reports as soon as
practicable after we electronically file such reports with the SEC.
Further, copies of our Certificate of Incorporation and Bylaws, our
Code of Ethical Business Conduct and the charters for the Audit,
Compensation, Nominating and Corporate Governance, Quality of Care
and Compliance and Ethics Committees of our Board are also
available on the Investor Relations subpage of our website (under
the link “Corporate Governance”).
About Professional Profiles, Inc.:Professional
Profiles, Inc., was established in 1988 by Edward F. Kittredge as a
full-service private home care agency in the Commonwealth of
Massachusetts, providing non-medical personnel to elderly clients.
Professional Profiles’ corporate headquarters is located in
Danvers, Massachusetts, and also maintains three branch offices,
located in Brookline, Lowell and Melrose MA. Professional
Profiles covers a broad geographical service area and employs over
380 dedicated people. The company started as a family-owned private
company providing private home care and consultation to a wide
variety of health care clients. Professional Profiles is successful
in its mission of offering a variety of services enabling clients
to live an independent life-style in a safe and supportive setting
in their own homes, and its reputation for quality service and
commitment to client satisfaction is recognized throughout Eastern
Massachusetts.
Media Contact:
Kendra Kimmons
Marketing & Communications
225-299-3720
kendra.kimmons@amedisys.com
David Castille
Investor Relations
225-299-3665
david.castille@amedisys.com
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