Navigation Links
Gentiva(R) Health Services Acquires Leading Colorado Home Health Provider

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,, and its investor relations section at 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


Media Contact: David Fluhrer



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:
(Date:12/1/2015)... ... 01, 2015 , ... Florida Hospital Tampa is the first health care provider in ... of Florida. , vBloc® Therapy is a vagal blocking therapy, delivered via the Maestro® System, ... mass index (BMI) of at least 40 to 45 kg, or a BMI of at ...
(Date:12/1/2015)... ... ... Dr. Paul Vitenas, one of the top cosmetic surgeons in Texas ... Best Single Physician Practice in the nation. Dr. Vitenas and his practice were named ... industry publication. , Dr. Vitenas said he was very honored to receive such ...
(Date:12/1/2015)... ... December 01, 2015 , ... CloudLIMS today ... Golden Bridge Business Awards under the New Products and Services category for its ... sample management software that helps labs organize data and track samples ...
(Date:12/1/2015)... PITTSBURGH, PA (PRWEB) , ... December 01, 2015 ... ... or imaging facilities, radiographic technicians must mark the film for accurate interpretation by ... keep track of. Fortunately, an inventor from Sacramento, Calif., has found a way ...
(Date:12/1/2015)... , ... December 01, 2015 , ... ... announced it has been awarded a fixed price per sprint agile development contract ... valued at $34 million over five years, provides software engineering, infrastructure, as well ...
Breaking Medicine News(10 mins):
(Date:12/1/2015)... 2015 Pharma Tech Outlook recently conducted a ... Data Management Solution Providers - 2015 .  After careful ... CEOs, CIOs, VCs, analysts, and the Pharma Tech Outlook ... top 10 clinical data management solution providers (check out ... and 36 respectively). --> ...
(Date:12/1/2015)... Assurex Health, Inc. today announced a ... providers an expanded range of options in helping ... depression, anxiety, bipolar disorder, posttraumatic stress disorder (PTSD), ... i .   --> i ... of two new drug classes, 17 FDA-approved medications ...
(Date:12/1/2015)...  AccuTEC Blades, a leader in precision blade ... brand identity program. The new logo underscores AccuTEC,s ... products where "the edge makes all the difference."   ... Serving manufacturers and distributors of medical, food processing, ... product lines include those acquired when AccuTEC  purchased ...
Breaking Medicine Technology: