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Healthcare company $AMED has promoted Scott Ginn to the post of CFO, effective immediately. He will be replacing Gary Willis who has resigned to join another firm. Before joining Amedisys, Ginn had served business advisory firm Postlethwaite & Netterville as a Director.
Healthcare company $AMED’s subsidiary, Associated Home Care, has signed a definitive agreement to acquire Intercity Home Care, a personal care provider. Under the terms of agreement, Associated Home Care will acquire substantially all of the assets of Intercity Home Care. The transaction is expected to close by Oct 1, 2017.
Entering 2017, $AMED's primary goal for improvement is to return to consistent mid-single digit organic growth in home health. As a result of efforts in the last few years, $AMED has a solid and stable platform to build on, including a strong balance sheet that allows it to be opportunistic as it looks to consolidate a fragmented industry.
$AMED reported a decline in 4Q16 earnings due to higher costs and expenses as well as lower other income. Net income fell to $8.92MM or $0.26 per share from $12.91MM or $0.38 per share last year. Net service revenue grew to $366.3MM from $338.4MM. Adjusted EPS increased to $0.44 from $0.40.
$AMED said its subsidiary, Associated Home Care, agreed to acquire Home Staff, LLC, a personal care provider, in Worcester, Massachusetts. Under this deal, Associated Home Care will acquire substantially all of the assets of Home Staff from Fallon Health and VNA Care Network. The transaction is expected to close on Feb. 1, 2017.
Hospice care services provider $AMED has appointed Susan Sender as SVP and Chief Clinical Officer. In her new role, Ms. Sender will oversee clinical practice and quality, set and maintain clinical operations standards and develop and implement clinical programs and clinical education. She has previously worked with Kindred.
$AMED said, as of Sept. 1, 2016, it has closed on the previously announced acquisition of Professional Profiles, Inc., for $4.4MM. "This transaction solidifies our footprint in Massachusetts, building on our March acquisition of Associated Home Care, the leading personal care company in Greater Boston," said President and CEO Paul Kusserow.
Health and hospice company $AMED said it has closed on the acquisition of Associated Home Care for $28MM as of March 1, 2016. Associated Home Care, headquartered in North Andover, Massachusetts, cares for more than 5,000 seniors each day and has more than 1,500 employees with nine branch offices located in Massachusetts.
Home health provider $AMED said it agreed to acquire Associated Home Care, a private-duty home healthcare agency based in North Andover, Massachusetts. Under the terms of the agreement, the company will acquire 100% of the ownership interests in Associated Home Care for $28MM. The transaction is expected to close on March 1, 2016.