LOUISVILLE, Ky., Aug. 4 /PRNewswire/ -- Caretenders HealthCorp
(Nasdaq: CTND) today announced that by mutual agreement, it has withdrawn its
letter or intent to acquire certain of the home care operations of Vencor,
Inc. (NYSE: VC).
"We continue to seek acquisition opportunities in home and community based
health care that offer the right fit at the right value, consistent with our
belief that this industry has strong long-term appeal," said William B.
Yarmuth, Chairman and C.E.O. "The home care industry has been dramatically
impacted in the short run by the changes in Medicare reimbursement. We still
believe the demographic trends and the appeal of home health and adult day
care as alternatives to institutional care position the Company well for the
future."
Caretenders HealthCorp provides home and community based health care
services in Kentucky, Maryland, Alabama, Massachusetts, Connecticut, Indiana,
Ohio, Virginia and Florida.
All statements, other than statements of historical facts, included in
this news release, including the Company's ability to pursue its development
plans, are forward looking statements. 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 include further changes in the Medicare
reimbursement system, changes in laws and interpretations of laws relating to
the healthcare industry, and the availability of acquisition candidates which
meet the Company's strategic and financial criteria. For a more complete
discussion regarding these and other factors which may impact the Company's
financial performance and development activities, refer to the Company's
Securities and Exchange Commission filings, 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.
For more information: William Yarmuth or Steve Guenthner (502) 899-5355.
SOURCE Caretenders HealthCorp
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 784275
CONTACT:
William Yarmuth or Steve Guenthner,
Caretenders HealthCorp, 502-899-5355
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