Childtime Learning Centers adds nine centers in Rochester, N.Y.FARMINGTON HILLS, Mich.--(BUSINESS WIRE)--Jan. 27, 1997-- Childtime Children's Centers (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 :CTIM CTIM Coupled Thermosphere Ionosphere Model ), the nation's fifth largest provider of child care and preschool services, has made a major step in its growth plan by acquiring the assets of seven Playcare Child Care centers in the Rochester, N.Y. area. In addition, the company has signed an operating agreement for two other Playcare centers. Financial terms of the acquisition were not disclosed. This acquisition and operating agreement are part of Childtime's planned growth program targeted in specific markets over the next few years. It brings the total of Childtime centers in the greater Rochester area to 14, making it the largest proprietary child care provider in the Metro Rochester area. Since the beginning of fiscal year '97 on April 1, 1996, Childtime has added 37 new centers. "We're very excited about this acquisition," said Childtime President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Harold Lewis. "Playcare has an excellent reputation in the Rochester area." Lewis said the company, which went public on Feb. 2, 1996, has experienced significant growth in the past three years, expanding from 128 centers to 211 today. Playcare Child Care has had a presence in the Rochester area since it was founded in 1985. JoAnne Gabel, a 10-year employee of Playcare and director of operations, will join the Childtime staff as area manager of the upper New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of region. With 26 years' experience in the child care industry, she will be responsible for overseeing the operations of the nine new Childtime centers. Four of the centers are accredited accredited recognition by an appropriate authority that the performance of a particular institution has satisfied a prestated set of criteria. accredited herds cattle herds which have achieved a low level of reactors to, e.g. by the National Academy of Early Childhood programs, a division of the National Association for the Education of Young Children The National Association for the Education of Young Children (NAEYC) is the largest nonprofit association in the United States representing early childhood education teachers, experts, and advocates in center-based and family day care. . All nine centers offer programs for infants, toddlers, pre-school, and before/after school children. Childtime employs over 4,000 professional educators and child care providers, and provides a vital service to approximately 22,000 children and their parents in 15 states and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). . Childtime reported revenue of $65.6 million for fiscal year '96, up from $55.3 million in '95 and up 37 percent from revenue in fiscal '94. Childtime is home-based in Farmington Hills. CONTACT: Childtime Learning Centers Mike Yeager, 810/476-3200 or NES NES Nintendo Entertainment System NES Not Elsewhere Specified (shipping) NES Nuclear Export Signal NES National Election Studies NES Nashville Electric Service NES National Evaluation Systems, Inc. Nancy Burguess, 810/548-7444 |
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