Amedisys Announces Definitive Agreement to Acquire Intercity Home Care
August 31 2017 - 7:30AM
Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home
healthcare, hospice and personal care companies, announced today
that its subsidiary, Associated Home Care, has signed a definitive
agreement to acquire Intercity Home Care, a personal care provider.
Headquartered in Malden, Massachusetts, Intercity Home Care has
four locations throughout the Greater Boston, North Shore and
Merrimack Valley communities.
Under the terms of the agreement, Associated Home Care will
acquire substantially all of the assets of Intercity Home Care. The
transaction is expected to close October 1, 2017.
“Joining forces with Intercity aligns with our strategy of
becoming the premiere solution for patients in Massachusetts and
around the country to age in place wherever they call home,” stated
Amedisys President and CEO Paul Kusserow. “This agreement further
solidifies our position as the largest personal care provider in
Massachusetts.”
Intercity Home Care, founded in 1967, is a family-owned company
providing services including personal care, homemaking and
companionship, professional nursing, transportation and grocery and
laundry delivery.
“Intercity has provided outstanding and compassionate care to
these communities for decades, and I’m proud Amedisys will carry on
their tradition of excellence,” stated Mike Trigilio, President of
Amedisys’ Personal Care Division. “We look forward to joining our
resources and learning from each other to provide the best care
possible to the 19,000 clients we will now serve in
Massachusetts.”
“We’ve worked beside Associated Home Care for many years, and I
knew this was the right company to entrust with our clients and
partners,” stated Ralph Reinherz, Intercity Home Care CEO. “I’m
excited about joining the Associated Home Care family and know they
will continue our values and commitment to consistent, quality care
to those we serve.”
Forward-Looking Statements:
When included in this press release, words like “believes,”
“belief,” “expects,” “plans,” “anticipates,” “intends,” “projects,”
“estimates,” “may,” “might,” “would,” “should” and similar
expressions are intended to identify forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve a variety of risks and
uncertainties that could cause actual results to differ materially
from those described therein. These risks and uncertainties
include, but are not limited to the following: changes in Medicare
and other medical payment levels, our ability to open care centers,
acquire additional care centers and integrate and operate these
care centers effectively, changes in or our failure to comply with
existing Federal and State laws or regulations or the inability to
comply with new government regulations on a timely basis,
competition in the healthcare industry, our ability to integrate
our personal care segment into our business efficiently, changes in
the case mix of patients and payment methodologies, changes in
estimates and judgments associated with critical accounting
policies, our ability to maintain or establish new patient referral
sources, our ability to attract and retain qualified personnel,
changes in payments and covered services due to the economic
downturn and deficit spending by federal and state governments,
future cost containment initiatives undertaken by third-party
payors, our access to financing, our ability to meet debt service
requirements and comply with covenants in debt agreements, business
disruptions due to natural disasters or acts of terrorism, our
ability to integrate, manage and keep our information systems
secure, our ability to comply with requirements stipulated in our
corporate integrity agreement and changes in law or developments
with respect to any litigation relating to the Company, including
various other matters, many of which are beyond our control.
Because forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified, you should not rely on any forward-looking statement as
a prediction of future events. We expressly disclaim any obligation
or undertaking and we do not intend to release publicly any updates
or changes in our expectations concerning the forward-looking
statements or any changes in events, conditions or circumstances
upon which any forward-looking statement may be based, except as
required by law.
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 432
care centers in 34 states, Amedisys is dedicated to delivering the
highest quality of care to the doorsteps of more than 385,000
patients in need every year. For more information about the
Company, please visit: www.amedisys.com.
About Intercity Home Care: Intercity Home Care,
a family owned and operated company, has been providing quality
home care for over forty-five years to the elderly and
disabled in the comfort and security of the place they call home.
Its mission is to provide compassionate care and supportive
services to people who need assistance by meeting their personal
needs and helping them maximize their quality of life.
Contact:
Kendra Kimmons
Vice President of Marketing & Communications
225-299-3708
kendra.kimmons@amedisys.com
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