AMED now AMEDE
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Friday May 29, 8:51 am Eastern Time
Company Press Release
SOURCE: Amedisys, Inc.
Amedisys, Inc. Awarded Foundation Health Federal
Services Contract; Completes Four Acquisitions and
Opens Surgery Center; Announces Trading Symbol
Change
BATON ROUGE, La., May 29 /PRNewswire/ -- Amedisys, Inc. (Nasdaq: AMEDE - news), a
leading multi-regional provider of alternate site health care services, today announced that it
has been awarded the Foundation Health Federal Services (''FHFS'') Contract for the
Department of Defense TRICARE Region 6 program for Texas and Louisiana. This contract
includes infusion therapy, home medical equipment and home health nursing services and
covers approximately a half million lives at pricing that is market competitive. Also, the
Company announced the completion of four acquisitions, the opening of an additional
ambulatory surgery center and a temporary change in its trading symbol from ''AMED'' to
''AMEDE''.
Pursuing its strategy of rapid growth through acquisitions and start-ups, the Company
recently completed four acquisitions. These include:
-- StaffCor Staffing Services, located in Oklahoma City, OK, provides
medical staffing services. Amedisys expects to add clerical and light
industrial staffing and expand services into other Oklahoma markets.
-- Home Health Alexandria, Inc., d/b/a Cornerstone Home Health in
Alexandria, LA, and Precision Home Health Care in Baton Rouge, LA, are
Medicare certified, state licensed, JCAHO accredited home health
agencies. They provide traditional intermittent home health services
including skilled nursing, home health aides and social services.
These acquisitions allow the Company to enter the Alexandria market and
further penetrate the Baton Rouge market.
-- Quality Home Health Care, Inc. is a Medicare certified, state licensed
home health agency serving the east central area of Oklahoma through
three locations, offering traditional home health services. Amedisys
will integrate this operation with its existing Oklahoma operations to
create economies of scale and further penetrate this market.
In addition, the Company recently opened the East Houston Surgery Center, LTD., a
partnership with local physicians. The center will be managed by Amedisys, Inc. It offers a
comprehensive scope of surgical services including orthopedics, gastroenterology,
ophthalmology, gynecology, podiatry, pain management, and general surgery.
Finally, the Company announced a temporary change in its Nasdaq trading symbol. Due to its
recent acquisitions, the Company fell out of compliance with Nasdaq criteria relating to net
tangible assets. It is addressing this issue and taking steps to come into compliance within the
time required by Nasdaq.
James P. Cefaratti, President and Chief Operating Officer for Amedisys commented, ''In line
with our strategic growth objectives, the Company continues to develop its network of
alternate site health care services through start-ups and acquisitions. By enhancing our
network, we are better positioned than competitors to offer bundled services to support our
continuum of care philosophy and capture more business. In addition, these new sites
provide a platform for the entry of additional Amedisys service lines in each of these
markets.''
Amedisys will host a conference call on Monday, June 1 at 4:15 PM (EST) to discuss the
progress of their 1998 plan and to review the first quarter of 1998. To participate, call
212-346-6394 and ask for the Amedisys conference call.
Amedisys is a leading multi-regional provider of fully integrated alternate site health
services. It offers a continuum of services including alternate site infusion therapy,
ambulatory infusion centers, outpatient surgery centers and home health nursing services. In
addition, it provides physician support services, temporary and permanent staffing,
management services, and specialized management information software and services.
Certain statements in this release are forward-looking. Although Amedisys, Inc. believes its
expectations are based on reasonable assumptions within the bounds of its knowledge of its
business and operations, there can be no assurance that actual results will not differ
materially from its expectations. For factors that may cause actual results to differ materially
from expectations and underlying assumptions, see reports by Amedisys, Inc. filed with the
Securities and Exchange Commission.
SOURCE: Amedisys, Inc.
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AMEDISYS INC (Nasdaq:AMEDE - news)
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