American HomePatient acquires three home healthcare companies.BRENTWOOD, Tenn.--(BUSINESS WIRE)--Oct. 8, 1996--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 acquisition of the following home medical equipment and infusion companies: Baker Health Care Specialists based in Jonesboro, Ark.; OptionCare of Whiteville, N.C.; and I.V. Support of San Angelo, Texas San Angelo is a city in and the county seat of Tom Green CountyGR6, Texas, United States. It is also the principal city of the "San Angelo, Texas Metropolitan Statistical Area" that includes all of Irion and Tom Green county. . Combined 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 are approximately $4.0 million. Baker Health Care Specialists has three home health care centers located in Jonesboro, Paragould and Batesville, Ark. The company specializes in the provision of home medical equipment and respiratory services. Annualized revenues are approximately $1.9 million. OptionCare of Whiteville provides a full range of home care services including home infusion, respiratory equipment and services and home medical equipment. It operates from one location in Whiteville, N.C. and has annualized revenues of approximately $1.3 million. I.V. Support of San Angelo San Angelo (săn ăn`jəlō), city (1990 pop. 84,474), seat of Tom Green co., W Tex., where two forks join to form the Concho River; laid out 1869, inc. 1903. specializes in the provision of infusion services but also offers a small complement of respiratory and home medical equipment. It is anticipated that the respiratory and home medical equipment portions of this business will merge with American HomePatient's existing San Angelo, Texas center. The infusion operations will remain separate at this time. Annualized revenues are approximately $0.8 million. The addition of these companies helps to further strengthen American HomePatient's market position in the states of Texas, 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. and Arkansas. Today, the company's service area covers approximately 77 percent of the population of Texas, 77 percent in North Carolina and 56 percent in Arkansas. "Our goal is to achieve regional and geographic density in the states in which we operate," said Wissing. "We believe this greatly enhances our ability to serve managed care customers throughout a state. The majority of the acquisitions we've made thus far in 1996 have been in existing states and markets in an effort to further enhance and solidify so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. our market position." Since January, American HomePatient has acquired 31 home health care companies with 82 centers and $83 million in annualized revenues. Today, American HomePatient is one of the largest diversified diversified (di·verˑ·s providers of home care services in the country with 288 centers in 32 states. The company's primary product and service offerings include home respiratory services, home infusion services and home medical equipment and supplies. 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 Inc., Brentwood Edward K. Wissing, 615/221-8884 or Kathey S. Palmer, 615/221-8884 |
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