Care Group to acquire Peachtree Medical.LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Sept. 7, 1995--The Care Group Inc. (NASDAQ/NMS: CARE) today announced that it had entered into a purchase agreement to acquire Peachtree Medical Inc. ("Peachtree Medical") of Marietta, Ga. Peachtree Medical is a company offering 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. home medical equipment. The purchase price was not disclosed but is expected to be a combination of stock and cash. In making the announcement, Ann T. Mittasch, The Care Group's president, said, "The Peachtree Medical acquisition is the second of a series of recently proposed acquisitions which serve to consolidate a variety of our activities. As we add more services throughout our branch network, such as home medical equipment, there is a resulting economy of scale while offering more benefits to our patient base." The company has been focusing its efforts on providing a one-stop home care medical shopping service within each office. It provides infusion therapy, nursing services, pharmaceutical services and home medical equipment. As part of this strategy, it is streamlining operations and enhancing its bottom line, Mittasch added. In August, the company entered into a letter of intent to purchase Therapeutic Innovations, Inc. of Houston, a pediatric pediatric /pe·di·at·ric/ (pe?de-at´rik) pertaining to the health of children. pe·di·at·ric adj. Of or relating to pediatrics. therapy organization and is anticipating announcing additional acquisitions throughout the year. The Care Group is engaged in high-tech home health care. The Care Group's nursing and pharmaceutical division provides home and alternative site care through its branch network located in Atlanta, Ga.; Austin, Tx.; Dallas, Tx; Houston, Tx.; Long Island, NY; 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. , Ca. and New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . The Medical Equipment and Diagnostic Services diagnostic services, n.pl the imaging and laboratory capabilities available for determining the cause of an illness. Division's national sales force markets therapeutic and diagnostic modalities Modalities The factors and circumstances that cause a patient's symptoms to improve or worsen, including weather, time of day, effects of food, and similar factors. utilized at home, in the hospital or in alternative sites. CONTACT: The Care Group Pat Celli, 800/999-0576 or KCSA KCSA Krannert Center Student Association KCSA Kentucky Crushed Stone Association (Frankfort, KY) KCSA Kyiv City State Administration KCSA Kalamazoo Christian School Association KCSA Kentucky-Canadian Studies Association Les Schupak/Joseph Mansi 212/682-6300 ext. 207/205 |
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