Amedisys, Inc. (NASDAQ: AMED), one of America's leading home health and hospice nursing companies, today announced that it has completed the discussions disclosed in a press release dated September 10, 2009 and has signed a definitive agreement to acquire the home health operations of Hackensack University Medical Center. Subject to regulatory approval from the state of New Jersey, the parties expect to close the transaction by the end of the year. When consummated it will represent Amedisys’ initial entry into the home health business in New Jersey, a certificate of need (CON) state. The agency has annualized revenue of approximately $19 million and serves Bergen and Hudson counties.
“We are very excited about this opportunity,” stated William F. Borne, Chief Executive Officer of Amedisys, Inc. “This will be our initial entrance into New Jersey, a state with substantial demographics. Combined, the two counties served by this agency have approximately 1.5 million in total population and more than 200,000 people over the age of 65. We look forward to building on the excellent care and service the agency currently provides to the patients in this community by introducing Amedisys clinical programs, providing additional financial and operational resources, and expanding business development efforts.”
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