ATRIA SIGNS DEVELOPMENT AGREEMENT WITH MAJOR LOUISVILLE-BASED HOSPITAL OPERATOR.LOUISVILLE, Ky.--(BUSINESS WIRE)--Jan. 14, 1997-- ACQUIRES CONTROL OF TWO ADDITIONAL FACILITIES Atria Atria The heart has four chambers. The right and left atria are at the top of the heart and receive returning blood from the veins. The right and left ventricles are at the bottom of the heart and act as the body's main pumps. Communities, Inc. (Nasdaq/NM:ATRC ATRC Adaptive Technology Resource Centre (Canada) ATRC Assistive Technology Resource Center ATRC Aegis Training and Readiness Center ATRC Advanced Television Research Consortium ATRC Alien Terrorist Removal Court ATRC Against the Rest Crew ) today announced two developments related to the continuing expansion of its network of assisted and independent living services. In one action, Atria has reached an agreement with Jewish Hospital Jewish Hospital can refer to:
n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. communities. In another development, the Company has acquired control of two facilities in Knoxville, Tennessee “Knoxville” redirects here. For other uses, see Knoxville (disambiguation). Founded in 1786, Knoxville is the third-largest city in the state of Tennessee, behind Memphis and Nashville, and is the county seat of Knox CountyGR6. , a 102-unit assisted living community and a 48-bed Alzheimer's unit. W. Patrick Mulloy II, Atria's president and chief executive officer, remarked, "Each of these steps marks significant progress in our growth plans. We are particularly pleased with the working agreement we have signed with Jewish Hospital HealthCare Services. This premier healthcare provider operates a regional network of 36 locations in 14 counties in Kentucky <onlyinclude> This is a list of the one hundred and twenty counties in the U.S. state of Kentucky. Despite ranking 37th in size by area, Kentucky has 120 counties, third in the U.S. behind Texas' 254 and Georgia's 159. and Indiana. Plans are to provide this organization the opportunity to participate as an investor in assisted living communities to be built near its existing hospitals. The first of these new communities, the Atrium at St. Matthews, will be a 70-unit assisted living community in Louisville and is scheduled to open in mid-1997. Jewish Hospital HealthCare Services will be a joint venture partner in this facility. We believe this partnership will be effective in linking Atria's centers in a continuum that will provide patients high-quality care in a setting which best matches their individual needs. For those communities developed in the greater Louisville area, this continuum will include an affiliation with the University of Louisville See also
1. ^ [1] 2. ^ [2] URL accessed on June 8 2006 3. Medical School through its Division of Geriatrics geriatrics (jĕrēă`trĭks), the branch of medicine concerned with conditions and diseases of the aged. Many disabilities in old age are caused by or related to the deterioration of the circulatory system (see arteriosclerosis), e.g. in the Community and Family Medicine Department." Mulloy added, "The two facilities in Knoxville represent the initial units we have acquired. We continue to expect the majority of our expansion to be accounted for by the construction of new communities, but we plan to augment aug·ment v. aug·ment·ed, aug·ment·ing, aug·ments v.tr. 1. To make (something already developed or well under way) greater, as in size, extent, or quantity: that internal growth through strategic acquisitions. Both the Weston Place community and the Weston Court Alzheimer's unit have been successful under the management of a private developer and represent a logical geographical expansion of our network. Pending receipt of final regulatory approvals for our purchase of these facilities, we will be operating them under a full management contract." Atria is a national provider of assisted and independent living communities for the elderly. Including the two facilities acquired in Knoxville, the Company currently operates 23 communities in 13 states with a total of 3,092 units, including 800 assisted living units and 2,292 independent living units. Atria presently has 14 additional communities under development, representing a total of 878 units. CONTACT: Atria Communities, Inc., Louisville W. Patrick Mulloy, II, 502/596-7542 |
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