Amedisys Announces Definitive Agreement To Acquire Dyna Care Home Health
April 27 2007 - 1:45PM
PR Newswire (US)
- Acquisition Will Mark Amedisys' Initial Entry into Illinois and
Michigan - BATON ROUGE, La., April 27 /PRNewswire-FirstCall/ --
Amedisys, Inc. (Nasdaq: AMED or the "Company"), one of America's
leading home health nursing companies, today announced that it has
signed a definitive agreement to purchase the home health assets of
Dyna Care Health Ventures, Inc. The transaction is targeted to be
completed May 1, 2007, subject to the prior satisfaction of certain
conditions contained in the definitive agreement. Dyna Care
currently operates 11 home health agencies in Illinois, Michigan,
Indiana, Arizona, and Texas. The transaction is expected to
initially contribute approximately $14 - 15 million in annualized
revenues, but is not expected to add significantly to Amedisys'
earnings in 2007. "This acquisition will provide us with our first
entrance into the states of Illinois and Michigan. In particular,
we were attracted to the opportunity because of its strong presence
in the Chicago market, with 6 locations stretching across the
metropolitan area, including northeast Indiana," said William F.
Borne, Chief Executive Officer of Amedisys, Inc. "The purchase also
expands our market penetration in the Houston and Phoenix
metropolitan areas." Terms of the definitive agreement were not
disclosed. Amedisys, Inc. is headquartered in Baton Rouge,
Louisiana. Its common stock trades on the Nasdaq Global Select
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 at: http://www.amedisys.com/ Contact:
Amedisys, Inc. Amedisys, Inc. Senior Vice President - Finance Chief
Financial Officer Thomas J. Dolan Dale E. Redman 225.292.2031
225.292.2031 DATASOURCE: Amedisys, Inc. CONTACT: Thomas J. Dolan,
Senior Vice President - Finance, +1-225-292-2031, , or Dale E.
Redman, Chief Financial Officer, +1-225-292-2031, , both of
Amedisys, Inc. Web site: http://www.amedisys.com/
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