American HomePatient Signs Joint Venture Partnership With Evergreen Community Health Care.BRENTWOOD, Tenn.--(BUSINESS WIRE)--July 8, 1998--American HomePatient, Inc. (Nasdaq: AHOM), one of the nation's largest home health care companies, today announced the signing of a joint venture agreement with King County Public Hospital District No. 2 d.b.a. Evergreen evergreen, term commonly used as synonymous with conifer and applied also to all those broad-leaved plants that bear green leaves throughout the year. Of the latter, most are plants of the tropics, subtropics, and other areas where the growing season is prolonged (e. Community Health Care located in Kirkland, WA, a suburb of Seattle. Evergreen Hospital Medical Center has a total of 149 licensed beds and also operates Evergreen Home Health Care and Evergreen Hospice hospice, program of humane and supportive care for the terminally ill and their families; the term also applies to a professional facility that provides care to dying patients who can no longer be cared for at home. which provide home care to more than 1,200 persons each month. The 50/50 percent equity partnership, operating under the name American HomePatient, will be managed by American HomePatient. The primary products and services offered by the new partnership are home 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, which support patients being cared for in their own homes. Malcolm MacKenzie Malcolm John MacKenzie (born 30 September 1961) is an English golfer. MacKenzie was born in Sheffield. He turned professional in 1980 and has spent most of his career playing on the European Tour. , president and chief executive officer of American HomePatient, is excited by the possibilities the new joint venture brings to American HomePatient. "This agreement has given our company the opportunity to join forces with a very progressive hospital system that has strong growth potential. Evergreen's programs are very innovative as evidenced by their receiving the `Distinguished Community Benefit Recognition' award and a NOVA award from the American Hospital Association American Hospital Association (AHA), n.pr a nonprofit national organization of individuals, institutions, and organizations engaged in direct patient care. The association works to promote the improvement of health care services. ," stated MacKenzie. "In addition, the joint venture represents our continued focus on developing partnerships with leading hospital and integrated delivery systems integrated delivery system Integrated provider Medical practice A coordinated health care system formed by physician groups and hospitals which ↑ efficiency and ↓ redundancy in providing health care; IDSs coordinate delivery of a broad range of health , a fundamental component of our growth strategy," continued MacKenzie. Andrew Fallat, chief executive officer of Evergreen Community Health Care, is also pleased with the new partnership. "American HomePatient has an outstanding reputation in the industry, and this new partnership will allow us to provide our patients and community with responsive, high-quality, and cost-effective home care services," said Fallat. Evergreen Hospital Medical Center was the first hospital in the state of Washington to receive the "Distinguished Community Benefit Recognition" award from the Hospital Community Benefits Standards Program. In addition, as a founding member of Partners for a Healthier Community, Evergreen recently received the prestigious American Hospital Association's NOVA award, which honors innovative collaborative projects focused on improving community health status. The partnership announced today brings American HomePatient's total number of hospital joint ventures to 25, and is the fourth signed to date in 1998. American HomePatient is one of the nation's largest diversified providers of home health care services in the country, with over 300 centers in 37 states. The company's primary product and service offerings include home respiratory services, home infusion, 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 home medical equipment. 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. (National Market) under the symbol AHOM.
CONTACT: American HomePatient Inc., Brentwood
Malcolm MacKenzie or Kathey S. Palmer, 615/221-8884
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