ATLANTA, July 1 /PRNewswire-FirstCall/ -- Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of comprehensive home health services, announced today that it has purchased the assets of a homecare operation from the Nicholas County Commission on behalf of the Nicholas County Board of Health in West Virginia.
Originally established in 1975 as the Nicholas Webster County Home Health Agency to serve the growing need for homecare in Nicholas County, this Medicare-certified operation today provides services for patients in the counties of Nicholas, Webster and Greenbrier. West Virginia requires a certificate-of-need (CON) by county to participate in the home health program. The purchase extends Gentiva's CON coverage to more than 20 counties throughout the state.
The transaction is being funded from Gentiva's existing cash reserves. The acquisition is not expected to have a material impact on Gentiva's financial position or results of operations in 2009.
About Gentiva Health Services, Inc.
Gentiva Health Services, Inc. is a leading provider of comprehensive home health services, delivering innovative, high-quality care to patients across the United States. Gentiva is a single source for skilled nursing; physical, occupational, speech and neurorehabilitation services; hospice services; social work; nutrition; disease management education; help with daily living activities; respiratory therapy and home medical equipment; infusion therapy services; and other therapies and services. For more information, visit Gentiva's web site, http://www.gentiva.com, and its investor relations section at http://investors.gentiva.com. GTIV-G
Forward-Looking Statement
Certain statements contained in this news release, including, without limitation, statements containing the words 'believes,' 'anticipates,' 'intends,' 'expects,' 'assumes,' 'trends' and similar expressions, constitute 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based upon the Company's current plans, expectations and projections about future events.
