ATLANTA, Oct. 20 Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of comprehensive home health services, announced today that it has completed its acquisition of the Medicare certified assets of Coordinated Home Health Care, Inc., which has three offices in New Mexico and Texas. Terms of the transaction were not disclosed.
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The addition of locations in Las Cruces and Silver City, New Mexico and in El Paso, Texas expands Gentiva's coverage in these two states where it currently operates under the Gentiva brand.
"We would like to welcome all Coordinated Home Health Care employees to the Gentiva family. These new locations not only strengthen our presence in New Mexico and Texas but also demonstrate our focus on making acquisitions in attractive markets," said Gentiva CEO and President Tony Strange. "We look forward to offering more of our innovative specialty home health programs and other services to these locations."
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
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 [email protected]
or Brandon Ballew 770-221-6700 [email protected]
Media Contact: Scott Cianciulli Brainerd Communicators 212-986-6667 [email protected]
SOURCE Gentiva Health Services, Inc.