Gentiva(R) Health Services Acquires Louisiana Home Health Agency
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ATLANTA, June 24 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc.
(Nasdaq: GTIV), a leading provider of comprehensive home health services,
announced today that it has acquired Mid-State Home Health, one of central
Louisiana's top-three home healthcare providers.
Established in 1991, Mid-State covers a 50-mile radius from its base in
Alexandria that extends across 11 parishes in central Louisiana. Gentiva does
not currently operate in this coverage area, but does provide services in an
adjacent area.
"Combining forces with Mid-State will allow us to accept more referrals and
expand our coverage in Louisiana," said Gentiva CEO and President Tony
Strange. "We look forward to working with Mid-State's dedicated associates and
building on their strong history and reputation to offer a growing range of
skilled nursing and therapies to patients in their homes."
The transaction is being funded from Gentiva's existing cash reserves. The
acquisition is not expected to have a material impact on Gentiva's financial
position or results of operations in 2009.
About Gentiva Health Services, Inc.
Gentiva Health Services, Inc. is a leading provider of comprehensive home
health services, delivering innovative, high quality care to patients across
the United States. Gentiva is a single source for skilled nursing; physical,
occupational, speech and neurorehabilitation services; hospice services;
social work; nutrition; disease management education; help with daily living
activities; respiratory therapy and home medical equipment; infusion therapy
services; and other therapies and services. For more information, visit
Gentiva's web site, http://www.gentiva.com, and its investor relations section
at http://investors.gentiva.com. GTIV-G
Forward-Looking Statement
Certain statements contained in this news release, including, without
limitation, statements containing the words "believes," "anticipates,"
"intends," "expects," "assumes," "trends" and similar expressions, constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Forward-looking statements are based upon the
Company's current plans, expectations and projections about future events.
However, such statements involve known and unknown risks, uncertainties and
other factors that may cause the actual results, performance or achievements
of the Company to be materially different from any future results, performance
or achievements expressed or implied by such forward-looking statements. These
factors include, among others, the following: economic and business
conditions, including the ability to access capital markets; demographic
changes; changes in, or failure to comply with, existing governmental
regulations; legislative proposals for healthcare reform; changes in Medicare
and Medicaid reimbursement levels; effects of competition in the markets in
which the Company operates; liability and other claims asserted against the
Company; ability to attract and retain qualified personnel; availability and
terms of capital; loss of significant contracts or reduction in revenues
associated with major payer sources; ability of customers to pay for services;
business disruption due to natural disasters or terrorist acts; ability to
successfully integrate the operations of acquisitions the Company may make and
achieve expected synergies and operational efficiencies within expected
time-frames; effect on liquidity of the Company's debt service requirements;
and changes in estimates and judgments associated with critical accounting
policies and estimates. For a detailed discussion of certain of these and
other factors that could cause actual results to differ from those contained
in this news release, please refer to the Company's various filings with the
Securities and Exchange Commission (SEC), including the "Risk Factors" section
contained in the Company's annual report on Form 10-K for the year ended
December 28, 2008.
Financial and Investor Contact:
John R. Potapchuk
631-501-7035
john.potapchuk@gentiva.com
or Brandon Ballew
770-221-6700
brandon.ballew@gentiva.com
Media Contact:
Jennifer Gery-Egan
Brainerd Communicators
212-986-6667
gery@braincomm.com
SOURCE Gentiva Health Services, Inc.
Financial and Investor Contact: John R. Potapchuk, +1-631-501-7035,
john.potapchuk@gentiva.com, or Brandon Ballew, +1-770-221-6700,
brandon.ballew@gentiva.com, both of Gentiva Health Services, Inc.; Media
Contact: Jennifer Gery-Egan, of Brainerd Communicators, +1-212-986-6667,
gery@braincomm.com
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