Amedisys Closes on Acquisition Expanding Personal Care to Tennessee

Industry News   •   May 2, 2018

BATON ROUGE, La., May 02, 2018 (GLOBE NEWSWIRE) — Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home healthcare, hospice and personal care companies, announced today that its subsidiary, Associated Home Care, has closed on its acquisition of East Tennessee Personal Care Service (ETPCS), a personal care provider headquartered in Knoxville, Tennessee.

Under the terms of the agreement, Associated Home Care acquired substantially all assets of ETPCS.

“This transaction is exciting because it enlarges our personal care footprint outside of Massachusetts and Florida,” stated Amedisys President and Chief Executive Officer Paul Kusserow. “This allows us to continue to focus on our overall strategy of expanding our continuum of care into new markets.”

Founded in 2003, East Tennessee Personal Care Service offers personal care, homemaker services, personal support and Licensed Practical Nurses (LPNs) to clients to encourage independent living 24 hours a day and seven days a week. ETPCS has a personal care office in Knoxville, Tennessee, and serves the Knoxville metro area, including Knox, Loudon, Blount, Roane, Anderson and Monroe counties.

The Amedisys Personal Care Division now serves more than 19,000 clients annually in Massachusetts, Florida and Tennessee.

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.

This article originally appeared in an article on Globe Newswire.

2018-06-25T20:27:03+00:00 May 2nd, 2018|