Navigation Links
Gentiva(R) Health Services Completes Acquisition of Major Home Health Provider in CON State of Mississippi
Date:3/3/2008

MELVILLE, N.Y., March 3 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc. (Nasdaq: GTIV), the nation's leading provider of comprehensive home health services, announced today that it has completed its acquisition of 100% of the ownership interest in Home Health Care Affiliates, Inc. and certain of its subsidiaries and affiliates (HHCA) for $55 million in cash, subject to post-closing adjustments.

The transaction, which extends Gentiva's home health operations to 37 states, has been funded from a combination of Gentiva's existing cash balances and borrowings from its revolving credit facility. HHCA operates home health and hospice agencies in Mississippi under the brand names of Gilbert's Home Health and Gilbert's Hospice Care. The transaction will be accretive to Gentiva's fiscal 2008 results.

"We extend a warm welcome to all Gilbert's employees and anticipate a smooth transition in delivering our services to home health and hospice patients in the state," said Gentiva Chairman and CEO Ron Malone. "We also look forward to the possibility of bringing our groundbreaking specialty home health programs and other Gentiva services to this region as yet another way to differentiate us from the competition and build strong relationships with physicians and payers."

Annualized 2007 unaudited net revenues for the Gilbert's operations were approximately $37 million, of which approximately $33 million related to home health services and $4 million to hospice services. Gilbert's Home Health and Gilbert's Hospice Care, with approximately 500 employees and a business mix that is approximately 81% Medicare, deliver their services through 14 locations covering 50 of 82 counties in Mississippi, a Certificate of Need state for home health. Gilbert's was founded in 1977 as one of the state's earliest home health operations and is currently one of its largest.

About Gentiva Health Services, Inc.

Gentiva Health Services, Inc. is the nation's leading provider of comprehensive home health and related 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. Such factors include, among others: the Company's ability to successfully execute its growth strategy; the impact of significant indebtedness on the Company's liquidity and its ability to meet the requirements of its creditors; general 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; 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 implementation of new business systems, or due to natural disasters or terrorist acts; 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 31, 2006.

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 to Present March 3rd at Raymond James 29th Annual Institutional Investors Conference in Orlando
2. Gentiva(R) Health Services Announces Fourth Quarter and Fiscal 2007 Results, and Raises 2008 Outlook
3. Gentiva(R) Health Services and CIGNA HealthCare Extend National Homecare Contract Through January 31, 2011
4. Gentiva(R) Health Services Agrees to Acquire Major Home Health Provider in CON State of Mississippi
5. Gentiva(R) Health Services Promotes Boelsen to Senior Vice President, CareCentrix(R)
6. Gentiva(R) Health Services to Present January 8 at JPMorgan Healthcare Conference in San Francisco
7. Gentiva(R) Health Services to Present November 7 at CIBC Healthcare Conference in New York
8. Gentiva(R) Health Services Schedules Third Quarter Earnings Call and Web Cast for Thursday, November 1, 2007
9. Gentiva(R) Health Services Files Universal Shelf Registration Statement
10. Prime Healthcare Services Enters Into Network Wide Contract With Aetna Health Plans
11. In early childhood, continuous care by 1 doctor improves delivery of health screenings
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/28/2017)... ... 28, 2017 , ... Children and adolescents who enter the ... children in the general population. That’s because foster care is designed to protect ... While no fault of their own, youth who have experienced trauma often have ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... could substantially improve drug safety and minimize the cost of development. In this ... channel inhibition using cell lines and for cardiac toxicity using induced pluripotent stem ...
(Date:4/28/2017)... Abilene, Texas (PRWEB) , ... April 28, 2017 , ... Yisrayl Hawkins, Pastor and Overseer ... says, reveals which name the Creator responds to and which He does not. Yisrayl ... to believe which one is the true name, but he says with a little Scripture, ...
(Date:4/28/2017)... ... April 28, 2017 , ... ... the Brooke Grove Foundation implement a Microsoft Dynamics GP solution that integrates to ... ERP expert that specializes in long-term care, Brooke Grove now has the capability ...
(Date:4/28/2017)... ... April 28, 2017 , ... Rob Lowe is a ... he has leant his presence to an educational purpose as the host of the ... one being cancer. In a recent episode, the series focuses on thyroid cancer. , ...
Breaking Medicine News(10 mins):
(Date:4/20/2017)... , April 20, 2017   ZappRx, Inc ., ... specialty drug prescribing process, today announced it closed $25 million ... a venture capital firm based in Seattle ... Qiming Venture Partners . The Series B round included participation ... round in 2014, and GV (formerly Google Ventures). ...
(Date:4/20/2017)... LUND, Sweden , April 20, 2017 /PRNewswire/ ... OTCQX: NEVPF) ("NeuroVive") today announced positive preclinical ... company,s preclinical compound for non-alcoholic steatohepatitis (NASH), ... NV556 has previously ... STAM™ NASH model. Today, NeuroVive,s scientists present ...
(Date:4/19/2017)... 2017 The Mobile X-Ray product segment is the ... during the forecast period Mobile X-Ray segment is ... mobile X-Ray devices market, which is estimated to be valued ... a CAGR of 7% over the forecast period. Mobile X-Ray ... than US$ 100 Mn in 2017 over 2016. The segment,s ...
Breaking Medicine Technology: