American HomePatient acquires United Medical Mart and Cross Medical Equipment.BRENTWOOD, Tenn.--(BUSINESS WIRE)--March 26, 1997-- Acquisitions add $6.4 million in 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 Edward K. Wissing, president and chief executive officer of American HomePatient Inc. (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 acquisitions of United Medical Mart (d.b.a United Medical) and Cross Medical Equipment. United Medical, with four home health care centers in Missouri and Illinois specializing in rehabilitation rehabilitation: see physical therapy. equipment, has annualized revenues of approximately $5.6 million. Cross Medical, based in Oneida, Tenn., has annualized revenues of approximately $0.8 million. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Wissing, both of these acquisitions provide American HomePatient additional services and coverage in existing markets. "The addition of United Medical further enhances our capability to serve the St. Louis, Columbia and Springfield markets in Missouri as well as Springfield, Ill. These are all areas where we have thriving American HomePatient centers which offer home infusion, respiratory and medical equipment and supplies. United Medical provides us a strong base of rehabilitation services and equipment to serve the specialized spe·cial·ize v. spe·cial·ized, spe·cial·iz·ing, spe·cial·iz·es v.intr. 1. To pursue a special activity, occupation, or field of study. 2. needs of the patients in east and central Missouri. The St. Louis operation will remain a separate entity from our existing center while the other three will be consolidated with existing centers." Bob Gouy, former owner and president of United Medical, will stay on with American HomePatient as west area vice president for rehabilitation development, a new position designed to support the further development of the company's rehabilitation services in select markets. Cross Medical in Oneida, Tenn., offers a full range of medical equipment and supplies as well as respiratory services to patients in east and central Tennessee. American HomePatient will merge its existing Oneida operations with Cross Medical some time this year. American HomePatient is one of the nation's largest home health care providers with 303 centers in 32 states. The company's primary 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 and supplies provided to patients cost-effectively in the home or alternate setting. 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, Brentwood Edward K. Wissing or Kathey S. Palmer, 615/221-8884 |
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