LOUISVILLE, Ky., Jan. 31 /PRNewswire/ -- Caretenders HealthCorp
(Nasdaq: CTND) announced that shareholders have approved changing the
Company's name from Caretenders HealthCorp to Almost Family, Inc.
"This change underscores our focus on adult day health services which
provide alternatives for seniors and other special needs adults who wish to
avoid nursing home placement. It will enable us to build a single brand name
with which our customers can identify," said William B. Yarmuth, Chairman and
CEO. Twelve of the Company's 23 ADCs have always operated under the Almost
Family name. The others have operated under the Caretenders name -- a name
that has been long identified with home care.
Yarmuth added: "Almost Family is a trade name that we have used very
successfully in our more mature ADC markets. We plan to build upon this
successful history and move forward under a unified singular trade name."
Shareholders approved the change at today's annual shareholder meeting.
The Company's visiting nurse operations will retain the Caretenders trade
name.
Effective tomorrow, February 1, 2000, the Company's stock symbol will
change to "AFAM" on the Nasdaq system.
Almost Family, Inc. (formerly Caretenders HealthCorp) is an adult day
health care services company focused on providing alternatives for seniors and
other special needs adults who wish to avoid nursing home placement. The
Company has locations in Kentucky, Maryland, Alabama, Massachusetts,
Connecticut, Indiana, Ohio, and Florida.
Contact: William Yarmuth or Steve Guenthner (502) 899-5355.
All statements, other than statements of historical facts, included in
this news release, including the objectives and expectations of management for
future operating results, are forward-looking statements. These forward-
looking statements are based on the Company's current expectations. Although
the company believes that the expectations expressed or implied in such
forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct.
Because forward-looking statements involve risks and uncertainties, the
Company's actual results could differ materially. The potential risks and
uncertainties which could cause actual results to differ materially could
include the impact of further changes in healthcare reimbursement systems,
including the ultimate implementation of a Medicare prospective payment
system; government regulation; health care reform; pricing pressures from
third-party payers; and changes in laws and interpretations of laws relating
to the healthcare industry. For a more complete discussion regarding these
and other factors which could affect the Company's financial performance,
refer to the Company's Securities and Exchange Commission filing on Form 10-K
for the year ended March 31, 1999, in particular information under the
headings "Business" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations." The Company disclaims any intent or
obligation to update its forward-looking statements.
SOURCE Caretenders HealthCorp
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Company News On-Call:
http://www.prnewswire.com/comp/784275.html or fax,
800-758-5804, ext. 784275
CONTACT:
William Yarmuth, or Steve Guenthner of
Caretenders HealthCorp, 502-899-5355
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