Amedisys Closes On Visiting Nurse Association of Long Island Acquisition

Industry News   •   October 20, 2016

BATON ROUGE, La., Oct. 20, 2016 (GLOBE NEWSWIRE) — Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home health care and hospice companies, today announced that it has closed on the acquisition of Visiting Nurse Association of Long Island (VNALI), a nonprofit organization based in Garden City, New York that once served more than 100 communities throughout Long Island, Queens, Brooklyn and The Bronx. Amedisys acquired substantially all of the assets of VNALI for $4.6 million.

VNALI, founded in 1915, is one of the nation’s oldest Visiting Nurse Associations. Most recently, the Centers For Medicare & Medicaid Services gave VNALI a rating of four stars out of five in quality of care for Medicare patients. VNALI performed better than average on 18 of 22 measures for quality through both New York State and the United States. The organization filed for bankruptcy in June, 2015.

“VNALI has developed an outstanding reputation for taking care of patients for the past 100 years and this acquisition allows us to continue that care,” stated Amedisys President and Chief Executive Officer Paul Kusserow. “It is also the first time ever that Amedisys has entered New York City, a heavily urban marketplace, and as a result gives us access to Kings and Queens Counties, among the nation’s largest Medicare populations. It also extends our reach in the densely populated Long Island market, where Tender Loving Care, an Amedisys company, operates facilities in Hicksville and Medford.”

The Visiting Nurse Association of Long Island is a federally and state certified home health agency. Until recently, the organization provided valuable health and community-based services to the region. It has served Long Island residents for more than 100 years and is recognized as one of the country’s top 500 healthcare providers. At one time, the agency served 450 to 500 patients per week.

Amedisys will provide further detail during its third quarter 2016 earnings conference call.

This article originally appeared in an article on GlobeNewswire.

2018-06-26T18:56:37+00:00 October 20th, 2016|