Beverly Remains Committed to Growing Its Rehab Business.Business Editors/Health/Medical Writers FORT SMITH, Ark.--(BUSINESS WIRE)--Jan. 30, 2004 Beverly Enterprises, Inc. (NYSE NYSE See: New York Stock Exchange :BEV) today said that it remains committed to growing its profitable rehabilitation business through prudent acquisitions and continued internal growth -- even though the previously announced acquisition of SunDance Rehabilitation has been terminated. "Our decision to hold firm on certain key issues that arose during the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process was in the best interest of our shareholders," said William R. Floyd, chairman and chief executive officer. "That decision prevented us from reaching an agreement on the transaction. We will, however, pursue other strategic acquisition opportunities to support the continued growth of our AEGIS Therapies business." Beverly Enterprises, Inc. and its operating subsidiaries comprise a leading provider of healthcare services to the elderly in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . They operate 372 skilled nursing facilities skilled nursing facility n. Abbr. SNF An establishment that houses chronically ill, usually elderly patients, and provides long-term nursing care, rehabilitation, and other services. , as well as 20 assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. centers, and 26 hospice and home care centers. Through AEGIS Therapies, they also offer rehabilitative services on a contract basis to nursing facilities operated by other care providers. |
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