BATON ROUGE, La., Aug. 1 /PRNewswire-FirstCall/ -- Amedisys, Inc. , one of America’s leading home health nursing companies, today announced that it has acquired NCARE Inc., a home health agency with two locations in Virginia; one in Newport News and the other in Chesapeake, effective August 1, 2005.
The agencies are expected to contribute approximately $3 million to Amedisys’ annualized revenues, though the Company does not expect the acquisition to contribute materially to Amedisys’ earnings in 2005.
“We are excited to further expand our presence in the Virginia market through this acquisition,” stated William F. Borne, Chief Executive Officer of Amedisys, Inc. “We continue to see a number of similar acquisition opportunities available in attractive states, and maintain our intention to selectively acquire companies that fit our acquisition profile,” concluded Mr. Borne.
The purchase price of this most recent acquisition included $1.5 million in cash and a $700,000 note payable over two years.
Amedisys, Inc., a leading provider of home health nursing services, is headquartered in Baton Rouge, Louisiana. Its common stock trades on The Nasdaq Stock 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 on the World Wide Web http://www.amedisys.com
Contact: Amedisys, Inc. Gregory H. Browne Chief Financial Officer (225) 292-2031 gbrowne@amedisys.com Noonan Russo Investor Relations Brian Ritchie (212) 845-4269 brian.ritchie@eurorscg.com
Amedisys, Inc.
CONTACT: Gregory H. Browne, Chief Financial Officer, +1-225-292-2031,gbrowne@amedisys.com; or Brian Ritchie, Investor Relations of Noonan Russo,+1-212-845-4269, brian.ritchie@eurorscg.com; both for Amedisys, Inc.
Web site: http://www.amedisys.com/