Industry News • February 2, 2017
BATON ROUGE, La., Feb. 02, 2017 (GLOBE NEWSWIRE) — Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home health care and hospice companies, today announced that its subsidiary, Associated Home Care, has closed on its acquisition of Home Staff, LLC, a personal care provider, headquartered in Worcester, Massachusetts.
Under the terms of the agreement, Associated Home Care acquired substantially all of the assets of Home Staff from Fallon Health and VNA Care Network.
Home Staff, founded in 1977, offers professional nurses, chore workers, companions, transportation, Personal Care Assistants, Certified Nursing Assistants and homemakers to clients to encourage independent living 24 hours a day and seven days a week. With 502 employees, Home Staff has home personal care offices in Worcester, Needham and West Springfield and covers the Greater Metro Boston, Greater Worcester Region and the Western Massachusetts Region. It delivers care to 3,500 clients per year and generates approximately $10.5 million in annualized revenues.
“This acquisition is exciting not only because it enlarges our personal care footprint in Massachusetts, it also positions us for a future collaboration with an innovative payor to help manage their most vulnerable patients,” stated Amedisys President and Chief Executive Officer Paul Kusserow. “We look forward to partnering with Fallon Health to show the value that our care can bring to programs such as PACE (Program of All-Inclusive Care for the Elderly), SNPs (Special Needs Plans) chronic disease management and population health management.”
Amedisys’ Personal Care Division (AHC) now collectively has 2,500 aides providing care to 15,000 clients annually at home throughout Massachusetts – making it the largest personal care provider in the state.
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 home health industry, 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 due to the volatility and disruption of the capital and credit markets, 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 and manage our information systems, 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.
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This article originally appeared in an article on GlobeNewswire.