Amedisys, Inc. (or the "Company") (Nasdaq: AMED), one of America's leading home health nursing companies, today announced the acquisition of six home health agencies located in Georgia and South Carolina, from Memorial Health University Medical Center of Savannah, Georgia. The transaction was effective as of December 31, 2007, and is expected to contribute approximately $10 million in net revenue in 2008.
“We are excited to expand our coverage in Georgia and South Carolina, which are both certificate of need states,” said William F. Borne, Chief Executive Officer of Amedisys, Inc. “This acquisition expands our market penetration in Georgia by adding coverage in 32 counties in the Southeastern area of the state.”
“The acquisition clearly validates our strategic vision to be the leading provider of home health services. We continuously assess similar opportunities in order to identify those that most appropriately fit our profile and acquisition criteria,” concluded Mr. Borne.
The acquisition is not expected to add materially to Amedisys' earnings in 2008. Terms of the acquisition purchase 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: www.amedisys.com
Contacts:
Kevin LeBlanc, 225-292-2031
Director of
Investor Relations
kleblanc@amedisys.com
or
Tom
J. Dolan, 225-292-2031
Senior Vice President of Finance
tdolan@amedisys.com
