American HomePatient Acquires Volunteer Medical Oxygen and Hospital Equipment; Acquisition of Five Centers Brings Total Number of Tennessee Locations to 20.BRENTWOOD, Tenn.--(BUSINESS WIRE)--March 10, 1998--American HomePatient, Inc. (Nasdaq: AHOM), one of the nation's largest home health care companies, today announced the acquisition of Volunteer Medical Oxygen and Hospital Equipment, based in Nashville, Tenn. Volunteer Medical, a provider of respiratory therapies 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, and home medical equipment with annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenues of $1.7 million, has centers located in Nashville, Ashland City, Clarksville, Dickson and Erin, Tenn. The acquisition brings the total number of American HomePatient centers in the state to 20. Edward K. Wissing, president and chief executive officer of American HomePatient, notes that the Volunteer Medical acquisition is consistent with the company's goal to build regional density in the states it serves. "The additional coverage capability this acquisition gives us in the state of Tennessee Tennessee, state, United States Tennessee (tĕn`əsē', tĕn'əsē`), state in the south-central United States. better positions us to serve the needs of managed care payers while achieving greater operating efficiencies," Wissing said. "Volunteer Medical, with its strong dedication to providing quality care, is a perfect complement to American HomePatient and our own service philosophy of Personal Caring Service," he added. Jason Shiflet, formerly director of public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most for Volunteer Medical, joins American HomePatient as general manager with responsibility for the five former Volunteer locations. "This is a great opportunity for us to become part of a home health care company with a national reputation for quality. Ensuring that we will be able to continue to serve our patients and bring them the level of quality care they have come to expect was certainly one of our key considerations in choosing American HomePatient," Shiflet said. American HomePatient, with more than 300 home health care centers in 35 states, is recognized as one of the leading home health care companies in the country. Its current product and service offerings include respiratory services, infusion therapy, parenteral parenteral /pa·ren·ter·al/ (pah-ren´ter-al) not through the alimentary canal, but rather by injection through some other route, as subcutaneous, intramuscular, etc. par·en·ter·al adj. 1. and enteral nutrition Enteral nutrition Nourishment given through a tube or stoma directly into the small intestine, thus bypassing the upper digestive tract. Mentioned in: Electrolyte Supplements, Enterostomy, Necrotizing Enterocolitis , and medical equipment for patients in the home. American HomePatient's common stock is traded on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol AHOM. CONTACT: American HomePatient Inc., Brentwood Edward K. Wissing or Kathey S. Palmer, 615/221-8884 |
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