Allied Capital Finances Acquisition of Housecall Medical Resources.Business Editors WASHINGTON--(BUSINESS WIRE)--Nov. 22, 2002 Allied Capital Corporation (NYSE NYSE See: New York Stock Exchange :ALD ALD abbr. adrenoleukodystrophy ALD, n.pr See adrenoleukodystrophy. ALD aldolase. ) today announced that it has provided $15 million of subordinated debt Subordinated Debt A loan (or security) that ranks below other loans (or securities) with regard to claims on assets or earnings. Also known as "junior security" or "subordinated loan". and approximately $4 million in preferred and common stock to purchase Housecall Medical Resources, Inc. Housecall, formerly a subsidiary of Adventist Health Systems, is a leading home healthcare organization that provides a variety of services, including nursing care, infusion therapy, hospice care, respiratory therapy respiratory therapy Medical profession concerned with assisting the respiratory function of individuals who have severe lung disorders. Practices include suctioning to clear secretions from the airway, use of aerosol mists (sometimes medicated) or gases to ease breathing, , home medical equipment, and management services. "Housecall is an attractive investment for us because the company has a 30-year track record of success and is a market leader in the home healthcare industry," said William L. Walton, Allied Capital's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We also see an opportunity to help Housecall capitalize on the expected growth of the home healthcare industry with the leadership of a proven management team." About Allied Capital Allied Capital is the nation's largest business development company and provides long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. and equity investment capital primarily to support the expansion of private companies in a variety of industries. The company also participates in the real estate capital markets as an investor in non-investment grade commercial mortgage-backed securities. The company is headquartered in Washington, DC. For more information, please visit the web site at www.alliedcapital.com, call Allied Capital Investor Relations Investor relations The process by which the corporation communicates with its investors. toll-free at (888) 818-5298, or e-mail us at ir@alliedcapital.com. About Housecall Medical Resources, Inc. Housecall Medical Resources, Inc. is a leading home care provider in the Southeast and one of the largest in the nation. The company's team of dedicated healthcare professionals is committed to providing quality home health services focused on serving the needs of patients, their physicians, managed care organizations, and other third-party payors. Housecall, with 59 offices in five states, offers nursing and related care, infusion therapy, hospice care, respiratory therapy, home medical equipment, and management services. Forward-Looking Statements The information contained in this press release contains forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements, and these factors are enumerated This term is often used in law as equivalent to mentioned specifically, designated, or expressly named or granted; as in speaking of enumerated governmental powers, items of property, or articles in a tariff schedule. in the company's periodic filings with the Securities and Exchange Commission. |
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