Family Home Health Services, Inc. Is Pleased to Announce Issuing a Letter of Intent to Acquire Rockland Children Development Services ('RCDS')
Posted on: Tuesday, 22 August 2006, 18:00 CDT
PLYMOUTH, Mich., Aug. 22 /PRNewswire-FirstCall/ -- Family Home Health Services, Inc. (Pink Sheets: FYHH) announced it has issued a letter of intent to acquire RCDS, a Rockland County, New York-based leader in the field of Children's Early Intervention (EI) programs. RCDS has evolved as a key player in the Greater New York City community and home based E.I. services market. This transaction gives FHHS, a multi-state Medicare home health agency, to continue expanding in the community based home care industry plus penetrate the vast Greater New York City market.
Financial terms were not disclosed pending completion of the transaction, although FHHS anticipates capturing an additional $2.5 million EBITDA annually.
RCDS is a best-in-class, dynamic hybrid, which has developed a core base of dedicated clinicians. The acquisition is consistent with FHHS's care business strategy of being a cross-platform, multi-state home health care provider.
Forward-Looking Statements
Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. These risks, assumptions and uncertainties include: the ability to complete systems within currently estimated time frames and budgets; the ability to compete effectively in a rapidly evolving and price competitive marketplace; changes in the nature of reimbursement and regulation in the United States and other countries; changes in business strategy; the successful integration of newly acquired businesses; the impact of technological change; and other risks referenced from time to time in the Company's filings with the securities and Exchange Commission.
Investor Inquires Contact: FAMILY HOME HEALTH SERVICES, INC. Kevin Ruark, CEO or Jim Pilkington, CDO Tel: 734.414.9990, extension 1001 or 1008. Email: jpilkington@FHHS.US Web Site: http://www.fhhs.us/
Family Home Health Services, Inc.
CONTACT: Kevin Ruark, CEO, ext. 1001, or Jim Pilkington, CDO, ext. 1008,jpilkington@FHHS.US, both of Family Home Health Services, Inc.,+1-734-414-9990
Web site: http://www.fhhs.us/
Source: PRNewswire-FirstCall
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