American HomePatient acquires Highland Medical and Advanced Home Care; Company centers now total 150 in 20 states.FRANKLIN, Tenn.--(BUSINESS WIRE)--April 24, 1995--Edward K. Wissing, President and Chief Executive Officer of American HomePatient (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AHOM), today announced the acquisition of Highland Medical Supply Inc., based in Albuquerque, N.M., and Advanced Home Care Inc., based in Johnson City, Tenn. Combined, these acquisitions add six new home health care centers and 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 $11.3 million. Highland Medical Supply is the largest home medical equipment and respiratory services company in New Mexico. Its centers in Albuquerque and Grants have annualized revenues of $8.5 million. Established in 1941, Highland has been active in the development of hospital relationships, rehabilitation products and managed care contracts throughout the state. Advanced Home Care provides home medical equipment and respiratory services through its four locations including Johnson City, Tenn.; Jackson, Ky.; and Burrville and Bakersville, N.C. "Both of these acquisitions help us to further our strategy to achieve regional density in the states we operate," said Wissing. "Of our 150 centers, we now have 10 in New Mexico, 11 in Tennessee, eight in Kentucky and 11 in North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. . We will continue to pursue the acquisition of home care companies similar to Highland and Advanced. Both are well run and highly respected companies in their communities." American HomePatient is the fourth largest diversified provider of home care services in the country with 150 locations in 20 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 in 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, Franklin Edward K. Wissing, John Combs or Kathey Palmer, 615/794-3313 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion