LOUISVILLE, Ky., April 1 /PRNewswire-FirstCall/ -- Almost Family, Inc.
(Nasdaq: AFAM) today announced that it has completed its previously announced
acquisition of the assets and business operations of a Bradenton FL Medicare-
certified home health agency from Manatee Memorial Hospital.
William B. Yarmuth, Chairman and CEO, commented on the announcement: "As
we stated previously, the addition of the Bradenton Florida Home Health
operations to our Florida presence is a very important step in the execution
of our business plan. Florida Home Health has long been recognized as one of
the premier home health agencies on the west coast of Florida. This is direct
result of the quality and hard work of the agency's managers and employees.
We will work together with them and Manatee Memorial to continue that
tradition and build upon it. We are very pleased to welcome all of them to
our team."
The Company noted in its previous announcement regarding this transaction
that it is actively pursuing a number of potential acquisitions in Florida and
other states and expects that it will be able to complete additional
transactions over the course of the next year. The Company's 2004 Form 10-K
includes a description of its business plan which calls for an increase in
emphasis on the Visiting Nurse segment.
Almost Family, Inc. (TM) and subsidiaries (collectively "Almost Family")
is a leading regional provider of home health nursing services and adult day
health services. The Company has service locations in Florida, Kentucky,
Ohio, Maryland, Connecticut, Massachusetts, Alabama and Indiana (in order of
revenue significance).
All statements, other than statements of historical facts, included in
this news release, including the objectives and expectations of management for
future operating results of acquired home health agencies, the Company's
ability to acquire visiting nurse agencies at prices it is willing to pay, the
Company's ability to attract investment of additional capital, the Company's
ability to generate positive cash flows, and the Company's expectations with
regard to market conditions, 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 outcome of potential changes to Medicaid reimbursement
due to state budget shortfalls; the ability of the acquired agency to maintain
its level of admissions and operating performance, our ability to integrate
the acquired agency into our operations; government regulation; health care
reform; pricing pressures from Medicare, Medicaid and other third-party
payers; changes in laws and interpretations of laws relating to the healthcare
industry, and the potential effect of changes in competition for home health
agency admissions. 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 December 31, 2003, 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 Almost Family, Inc.
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Related links:
http://www.almost-family.com
Company News On-Call:
http://www.prnewswire.com/comp/784275.html
CONTACT:
William Yarmuth or Steve Guenthner, both of
Almost Family, Inc., +1-502-891-1000
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