Amedisys Announces Definitive Agreement to Acquire Six Home Health and Hospice Care Centers from Tenet Healthcare
March 01 2017 - 8:05AM
Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading
home health care, hospice and personal care companies, today
announced that it has signed a definitive agreement to acquire
Tenet Healthcare’s (NYSE:THC) home health and hospice operations in
Arizona, Illinois, Massachusetts and Texas.
“This acquisition gives Amedisys an incredible opportunity to
continue our goal of providing high-quality post-acute services in
key markets,” stated President and Chief Executive Officer Paul
Kusserow. “We look forward to the opportunity to work with Tenet in
these markets to improve the delivery of care and management of
patients across the care continuum.”
“Amedisys shares our commitment to serving patients, employees
and the community,” stated Trevor Fetter, Chairman and Chief
Executive Officer of Tenet Healthcare. “We are transferring these
local operations of healthcare service providers to Amedisys so
that high quality home health and hospice services will continue to
be available within the communities they serve.”
Since December 2015, Amedisys has announced six acquisitions,
deploying approximately $125 million in capital and contributing
approximately $145 million in revenue.
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 approximately 16,000 employees, in
420 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 Tenet Healthcare Tenet Healthcare
Corporation is a diversified healthcare services company with
130,000 employees united around a common mission: to help people
live happier, healthier lives. Through its subsidiaries,
partnerships and joint ventures, including United Surgical Partners
International, the company operates 80 general acute care
hospitals, 20 short-stay surgical hospitals and approximately 470
outpatient centers in the United States, as well as nine facilities
in the United Kingdom. Tenet’s Conifer Health Solutions subsidiary
provides technology-enabled performance improvement and health
management solutions to hospitals, health systems, integrated
delivery networks, physician groups, self-insured organizations and
health plans. For more information, please visit
www.tenethealth.com.
Kendra Kimmons
Managing Director of Communications
225-299-3708
kendra.kimmons@amedisys.com
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