Beverly Enterprises subsidiary buys five hospice home care agencies from Olsten Kimberly QualityCare.FORT SMITH, Ark.--(BUSINESS WIRE)--April 8, 1996--Hospice Preferred Choice Inc. (HPC (Handheld PC) A palmtop computer that weighs less than one pound and runs specialized versions of popular applications. Microsoft coined the term for its Windows CE operating system, which is an abbreviated version of Windows. See Pocket PC. ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Beverly Enterprises Inc. (NYSE NYSE See: New York Stock Exchange :BEV), recently purchased five hospice home care agencies from Olsten Kimberly QualityCare, subsidiary of Olsten Corp., based in Melville, N.Y. The five facilities are located in Houston; Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. ; Brea, Calif.; Clarks Summit, Pa.; and Harrisburg, Pa. Olsten and HPC also entered into a preferred provider agreement in each of these markets. "This acquisition will greatly enhance our current position in the hospice care market," said Gary Krueger, vice president of HPC. "We currently operate agencies in Fort Smith, Indianapolis, Milwaukee, Dallas and Houston. We also manage four home health agencies in California and Illinois." "We are developing a complementary network of health care services in a number of selected markets across the country," said Bill Mathies, president of Beverly Health and Rehabilitation rehabilitation: see physical therapy. Services (BHRS BHRS Bahrain Human Rights Society ). "This purchase and preferred provider agreement with Olsten Kimberly QualityCare fits perfectly into our strategic plan." "This transaction demonstrates Olsten Kimberly QualityCare's renewed commitment to providing hospice care services through our network management business," stated Robert A. Fusco, president. "Preferred provider agreements such as the one we have entered into with Beverly Health and Rehabilitation Services will enable us to concentrate our efforts on our core nursing competency and to meet the hospice needs of our national and regional managed care customers." HPC provides physical, psychological, social and spiritual care for terminally ill Terminally Ill When a person is not expected to live more than 12 months. Notes: Any gifts given out by the afflicted person at this time may be considered as a dispersion of the estate rather than a gift. persons and their families. BHRS is the largest family of skilled nursing and rehabilitative health care providers in the nation, with more than 730 health and rehabilitation centers located throughout the country. CONTACT: Beverly Enterprises Inc., Fort Smith Neil Gulsvig, 501/452-6712 |
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