Pediatric Services of America, Inc. Acquires New Jersey Infusion Companies and Missouri Pediatric Physical Therapy Company.NORCROSS, Ga.--(BUSINESS WIRE)--Nov. 10, 1997--Pediatric Services of America, Inc. (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 :PSAI PSAI Pediatric Services of America Inc ) announced the acquisition of IntraCare, Inc. and Intravenous Treatment Centers, Inc., whose offices are located in Little Falls, New Jersey Little Falls is a Township in Passaic County, New Jersey, United States. As of the United States 2000 Census, the township population was 10,855. Little Falls was incorporated as a township by an Act of the New Jersey Legislature on April 2, 1868, from portions of . The two corporations provide home infusion services and have outpatient treatment centers in Clifton and North Haledon, New Jersey North Haledon is a Borough in Passaic County, New Jersey, United States. As of the United States 2000 Census, the borough population was 7,920. North Haledon was formed as a borough by an Act of the New Jersey Legislature on March 20, 1901, from portions of Manchester . Combined annual revenue is approximately $5.6 million. IntraCare President, Jerry Belo, will remain as Director of Operations. PSAI Chairman, 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. and President, Joseph D. Sansone, stated, "We are pleased to bring this highly successful business into our organization and to have Jerry Belo become an integral part of our infusion service strategy for the future." In an unrelated transaction, PSAI announced the acquisition of 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. Physical Therapy, Inc. (PPTI), a St. Louis, Missouri provider of outpatient physical therapy services for children and infants. In connection with this acquisition, PSAI has signed an agreement to purchase Kids Nurses, Inc. (KNI), a pediatric home nursing service operating under the same ownership as PPTI. The acquisition of KNI is pending approval of state licensure transfer. Annual revenues for PPTI and KNI are approximately $1.1 million and $800,000 respectively. Mr. Sansone stated, "This transaction is our entry into the Missouri market and our first acquisition of a physical therapy service dedicated to children." PSAI provides comprehensive pediatric home health care services, specializing in pediatric respiratory therapy, nursing services and related equipment to medically fragile children. PSAI provides services through a network of 112 branch offices in 29 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). . -0- Forward looking statements made in this release involve a number of risks and uncertainties, including, but not limited to changes in government regulation and health care reforms, ability to execute on the company's acquisition and strategic alliance programs, both in finding suitable acquisitions and alliance candidates and financing therefor, changing economic and market conditions and other risk factors detailed in the company's Securities and Exchange Commission filing. CONTACT: Pediatric Services of America, Inc. Joseph D. Sansone, President/CEO or Stephen M. Mengert, CFO/Sr. Vice President Finance 770/441-1580 |
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