Navigation Links
Gentiva(R) Health Services Acquires Leading Colorado Home Health Provider
Date:6/2/2008

MELVILLE, N.Y., June 2 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc. (Nasdaq: GTIV), the nation's leading provider of comprehensive home health services, announced today that it has acquired Physicians Home Health Care (PHHC), one of Colorado's largest home health providers, for $12 million in cash. The transaction will be funded from Gentiva's existing credit facility.

PHHC, first established by a group of physicians in 1984, operates three locations serving 12 Colorado counties, including the Colorado Springs, Denver and Pueblo regions. The acquisition extends Gentiva's operations to 38 states.

Unaudited 2007 net revenues for PHHC were approximately $9.4 million, with nearly 83% derived from Medicare reimbursement. The acquisition is not expected to have a material impact on Gentiva's 2008 earnings.

"This acquisition moves Gentiva into another very active state for home healthcare and strengthens our growing Western division," said Chairman and CEO Ron Malone. "It will give us an additional platform to expand our services, including our groundbreaking specialty programs. We anticipate a smooth integration and extend a warm welcome to the Physicians Home Health Care employees as they join the Gentiva family."

About Gentiva Health Services, Inc.

Gentiva Health Services, Inc. is the nation's leading provider of comprehensive home health services. The Company serves patients across the United States, through its direct service delivery units or through CareCentrix(R), which manages home health services for major managed care organizations. 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. Gentiva's revenues are generated from federal and state government programs, commercial insurance and individual consumers. For more information, visit Gentiva's web site, http://www.gentiva.com, and its investor relations section at http://investors.gentiva.com. GTIV-G

Forward-Looking Statement

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; demographic changes; changes in, or failure to comply with, existing governmental regulations; legislative proposals for healthcare reform; changes in Medicare and Medicaid reimbursement levels, including changes to the Medicare home health Prospective Payment System effective January 1, 2008; 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; a material shift in utilization within capitated agreements; 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 30, 2007.

Financial and Investor Contact: John R. Potapchuk

631-501-7035

john.potapchuk@gentiva.com

Media Contact: David Fluhrer

631-501-7102

516-589-0778

david.fluhrer@gentiva.com


'/>"/>
SOURCE Gentiva Health Services, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Gentiva(R) Health Services Files Universal Shelf Registration Statement
2. Gentiva(R) Health Services Schedules Third Quarter Earnings Call and Web Cast for Thursday, November 1, 2007
3. Gentiva(R) Health Services to Present November 7 at CIBC Healthcare Conference in New York
4. Gentiva(R) Health Services to Present January 8 at JPMorgan Healthcare Conference in San Francisco
5. Gentiva(R) Health Services Promotes Boelsen to Senior Vice President, CareCentrix(R)
6. Gentiva(R) Health Services Agrees to Acquire Major Home Health Provider in CON State of Mississippi
7. Gentiva(R) Health Services and CIGNA HealthCare Extend National Homecare Contract Through January 31, 2011
8. Gentiva(R) Health Services Announces Fourth Quarter and Fiscal 2007 Results, and Raises 2008 Outlook
9. Gentiva(R) Health Services to Present March 3rd at Raymond James 29th Annual Institutional Investors Conference in Orlando
10. Gentiva(R) Health Services Completes Acquisition of Major Home Health Provider in CON State of Mississippi
11. Gentiva(R) Health Services to Present March 18th at Lehman Brothers Eleventh Annual Global Healthcare Conference in Miami
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... ... February 08, 2016 , ... Steve Helwig & Associates ... vital new community enrichment program, has teamed up with Citizens Opposed to Domestic Abuse ... from intimate abuse. To support all those victimized by the fear of violence in ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... program serving the greater Venice, FL area, has initiated a fundraiser for a ... car accident just four days after Christmas. To support this beautiful child who ...
(Date:2/8/2016)... (PRWEB) , ... February 08, ... ... and security executive networking and relationship-marketing firm, announced today that nominations will ... Information Security Executive® (ISE®) West Awards. , Awards include the Information ...
(Date:2/8/2016)... Pekin, IL (PRWEB) , ... February 08, 2016 ... ... debilitating conditions that co-occur frequently. While a significant number of women and men ... PTSD, not the trauma itself, that best predicts the development of an eating ...
(Date:2/8/2016)... ... ... the Rocky Mountain region’s longest running and impressive garden and home show where you ... the most incredible gardens and home improvement experts that attend this amazing show. ... 700 14th St. Denver CO, is an exciting event that Performance Mobility has enjoyed ...
Breaking Medicine News(10 mins):
(Date:2/8/2016)... --> --> ... Technologies Market by Product (Radiofrequency, Ultrasound, Irreversible Electroporation, Cryotherapy, ... Ophthalmology, Gynecology) - Global Forecasts to 2020", published by ... forecast period of 2015 to 2020. The market is ... of 10.5% from 2015 to 2020. Browse ...
(Date:2/8/2016)... , Feb. 8, 2016   HighPoint ... November Research Group (NRG),s pharmacovigilance technology services division.  ... consulting services and an Oracle Argus Specialized partner, ... to Life Sciences companies. --> ... expands HighPoint,s life sciences capabilities and provides a ...
(Date:2/8/2016)...  As part of a major growth and expansion initiative, ... Lori Chmura as President of Dune Inc., its ... Chmura,s extensive experience in the medical device space will play ... --> --> In ... sales, marketing and operational functions in the U.S. She is ...
Breaking Medicine Technology: