LOUISVILLE, Ky., Nov. 30 /PRNewswire-FirstCall/ -- Almost Family, Inc.
(Nasdaq: AFAM) today announced that it has completed its previously announced
acquisition of the assets and business operations of an Orlando FL Medicare-
certified home health agency from BayCare Health System.
William B. Yarmuth, Chairman and CEO, commented on the announcement: "As
we stated previously, the addition of the metropolitan Orlando market place to
our Florida presence is a very important step in the execution of our business
plan. The agency's managers and employees have forged a very nice foundation
upon which, working together, we will seek to expand our presence in the
market place. 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 2003 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
regarding the Company's ability to acquire visiting nurse agencies at prices
it is willing to pay 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 potential for changes to Medicaid reimbursement due to state
budget shortfalls; the ability of the Company to maintain its level of
operating performance and achieve its cost control objectives; the Company's
ability to attract investment of additional capital, the Company's ability to
generate positive cash flows; 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 Company's self-insurance risks. 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 of Almost
Family, Inc., +1-502-891-1000
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