Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home
health care and hospice companies, today announced that its
subsidiary, Associated Home Care, has closed on its acquisition of
Home Staff, LLC, a personal care provider, headquartered in
Worcester, Massachusetts.
Under the terms of the agreement, Associated Home Care acquired
substantially all of the assets of Home Staff from Fallon Health
and VNA Care Network.
Home Staff, founded in 1977, offers professional nurses, chore
workers, companions, transportation, Personal Care Assistants,
Certified Nursing Assistants and homemakers to clients to encourage
independent living 24 hours a day and seven days a week. With 502
employees, Home Staff has home personal care offices in Worcester,
Needham and West Springfield and covers the Greater Metro Boston,
Greater Worcester Region and the Western Massachusetts Region. It
delivers care to 3,500 clients per year and generates approximately
$10.5 million in annualized revenues.
“This acquisition is exciting not only because it enlarges our
personal care footprint in Massachusetts, it also positions us for
a future collaboration with an innovative payor to help manage
their most vulnerable patients,” stated Amedisys President and
Chief Executive Officer Paul Kusserow. “We look forward to
partnering with Fallon Health to show the value that our care can
bring to programs such as PACE (Program of All-Inclusive Care for
the Elderly), SNPs (Special Needs Plans) chronic disease management
and population health management.”
Amedisys’ Personal Care Division (AHC) now collectively has
2,500 aides providing care to 15,000 clients annually at home
throughout Massachusetts – making it the largest personal care
provider in the state.
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 home health industry, 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 due to the volatility and disruption of the capital and
credit markets, 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
and manage our information systems, 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 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”)
free of charge our annual reports on Form 10-K, quarterly reports
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 Home Staff, LLC: For over 37 years, Home
Staff has been Massachusetts’ leading choice in private home care,
enabling countless people to remain comfortably in the safety of
their own home…wherever home may be. Home Staff’s exceptional
caregivers provide superior, individualized care that encourages
and supports independent living and provides peace of mind to
families and loved ones. Home Staff’s contacts and
collaboration with many partners in the eldercare market and its’
accreditation by the Home Care Alliance of Massachusetts, has
contributed to its’ positive reputation as a provider and
employer.
Contact:
Kendra Kimmons
Managing Director of Communications
225-299-3708
kendra.kimmons@amedisys.com
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