Bright Horizons Family Solutions Acquires Leading Scotland Nursery Provider; Broadens UK Reach With Four Red Apple Nurseries in Scotland.Business Editors EDINBURGH, Scotland--(BUSINESS WIRE)--May 1, 2002 U.S.-based Bright Horizons Family Solutions Bright Horizons Family Solutions is a US-based child-care provider and one of the largest publicly held child-care corporations in the world. The result of a merger in 1998 between Massachusetts-based Bright Horizons (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 : BFAM BFAM Brother from Another Mother BFAM Bioinformatics for the Analysis of Mammalian Genomes BFAM Budget Formulation & Appropriation Model ), the world's leading provider of employer-sponsored child care, early education and work/life solutions, has acquired Red Apple Nurseries, bringing Scotland's premier provider of high-quality child care into the Bright Horizons Family Solutions family. The four Red Apple Nurseries, three in Edinburgh and one in Livingston, represent an important expansion of Bright Horizons Family Solutions' U.K. business and the company's first entry into Scotland. Terms of the deal were not disclosed. "There is tremendous opportunity for Bright Horizons Family Solutions to serve employers and families in Scotland and help them achieve work/life balance by offering high-quality child care. We found a valuable partner in Red Apple Nurseries, with whom we share a commitment to providing children with a dynamic, nurturing, educational environment. With strong roots in the Scottish market, their four nurseries will serve as the cornerstone for our growth in Scotland while providing the local expertise critical to appropriately supporting children and families here," Bright Horizons Family Solutions Chief Executive Officer David Lissy said. Diane Peden, Principal of Red Apple Nurseries, added, "For more than a decade, we have worked hard to establish the Red Apple Nurseries as the very best choice for the care and education of young children. This new partnership with Bright Horizons Family Solutions will allow the Red Apple Nurseries to broaden its reach and to care for even more children and parents throughout Scotland. It is an exciting development that will build on the foundation we have established in ways we never imagined." This development comes at a time when the demand for high-quality child care in Scotland and throughout the U.K. has never been higher. Several studies reported by the Department of Trade and Industry The Department of Trade and Industry was a United Kingdom government department which was disbanded with the announcement of the creation of the Department for Business, Enterprise and Regulatory Reform on 28 June 2007[1]. and the Scotland Office The Scotland Office (Oifis na h-Alba in Scottish Gaelic) is a department of the United Kingdom government within the Ministry of Justice and led by the Secretary of State for Scotland. point to the increasing need for child care and early education solutions for working families: -- The number of women in the workforce in the U.K. is at its highest ever, with 12 million in employment, and 41 percent of all working age women have dependent children. -- 80 percent of parents think employers should provide more help with child care. -- 73 percent of parents think that family-friendly employment policies will become more important to employers over the next several years. -- Collectively, U.K. workers lose 192 million days to workplace absences annually, costing employers (pound)10.7 billion. After general illness, family responsibilities are the most significant cause of absences. Bright Horizons Family Solutions specialises in partnerships with employers to develop and manage customised programmes that allow them to meet their employees' unique child care needs. The company's child care solutions help employers reduce absenteeism, increase productivity, improve recruitment and retention, and enhance employee morale and loyalty. In addition to traditional full-time child care options, for instance, Bright Horizons Family Solutions is the leader in Back-Up child care, and recently opened the first fully dedicated Back-Up nursery in the U.K. for a leading financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. firm. Back-Up care provides an enriching child care option for employees on an emergency basis when their other child care arrangements break down. Bright Horizons Family Solutions currently operates more than 400 nurseries in the U.S., U.K., Ireland and Canada. The company's global growth has been attributed to the strong relationships it enjoys both with employers and parents, as well as an unmatched reputation for quality. Headquartered in Boston, Massachusetts “Boston” redirects here. For other uses, see Boston (disambiguation). Boston is the capital and most populous city of Massachusetts.[3] The largest city in New England, Boston is considered the unofficial economic and cultural center of the entire New , the company operates in England under the name Nurseryworks Family Solutions and in Ireland as Bright Horizons Ireland. Bright Horizons Family Solutions clients include IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Johnson & Johnson, J Sainsbury plc, Cisco Systems “Cisco” redirects here. For other uses, see Cisco (disambiguation). Cisco System,Inc. (NASDAQ: CSCO, HKSE: 4333 ) is an American multinational corporation with 54,000 employees and annual revenue of US $28.48 billion as of 2006. , The Pentland Group, Motorola, JPMorgan Chase, Citigroup, and HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) among others. Bright Horizons Family Solutions Bright Horizons Family Solutions (www.brighthorizons.com) is the world's leading provider of employer-sponsored child care, back-up care, early education and work/life solutions. Bright Horizons has been recognized for its commitment to quality by the Child Care Action Campaign and for its contributions to the community as the recipient of the Ron Brown Award The Ron Brown Award for Corporate Leadership is a U.S. presidential honor to recognize companies "for the exemplary quality of their relationships with employees and communities". for Corporate Citizenship Corporate Citizenship The extent to which businesses are socially responsible in meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim it to create higher standards of living and quality of life in the community in which it operates, while . Bright Horizons' 325 clients include 82 of the Fortune 500 and 48 of the "Best Companies For Working Mothers" as designated by Working Mother magazine. This press release contains forward-looking statements, which involve a number of risks and uncertainties. Bright Horizons Family Solutions' actual results may vary significantly from the results anticipated in these forward-looking statements as a result of certain factors, including the ability of the Company to execute contracts relating to new commitments and to operate effectively and profitably abroad, as well as other factors that are discussed in detail in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2001. |
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