Printer Friendly
The Free Library
19,122,084 articles and books
Member login
User name  
Password 
 
Join us Forgot password?

ResCare Completes Kelly Acquisition.


LOUISVILLE, Ky. -- ResCare, 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
: RSCR RSCR Railways (Safety Case) Regulations (UK) ), the nation's leading provider of residential, training, therapeutic, educational and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services  for people with disabilities and special needs, today announced that its subsidiary, Southern Home Care Services, Inc., has completed its previously announced acquisition of Kelly Home Care Services, Inc. ("KHCS KHCS Killian Hill Christian School (Lilburn, Georgia) "), a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of Kelly Services, Inc. (NASDAQ: KELYA)(NASDAQ: KELYB).

KHCS operates in 18 states, providing in-home care to the elderly and people with disabilities. Services are primarily custodial care, and the revenue mix is substantially private pay and long-term care insurance. The expected annualized annualized

Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared.
 revenue is approximately $55 million.

ResCare, founded in 1974 and based in Louisville, Kentucky, provides services in 37 states, Washington, D.C., Puerto Rico and Canada. ResCare's services include residential, therapeutic, job training and educational supports to people with developmental or other disabilities; education and training to young people in the Job Corps program; one-stop employment and training services for people experiencing barriers to employment; and supports to older people in their homes. More information is available at www.rescare.com.

From time to time, ResCare makes forward-looking statements in its public disclosures, including statements relating to expected financial results, revenues that might be expected from new or acquired programs and facilities, its development and acquisition activities, reimbursement under federal and state programs, financing plans, compliance with debt covenants and other risk factors, and various trends favoring downsizing (1) Converting mainframe and mini-based systems to client/server LANs.

(2) To reduce equipment and associated costs by switching to a less-expensive system.

(jargon) downsizing
, de-institutionalization and privatization of government programs. In ResCare's filings under the federal securities laws, including its annual, periodic and current reports, the Company identifies important factors that could cause its actual results to differ materially from those anticipated in forward-looking statements. Please refer to the discussion of those factors in the Company's filed reports. Statements related to expected financial results are as of this date only and ResCare does not assume any responsibility to update these statements.
COPYRIGHT 2007 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Apr 2, 2007
Words:310
Previous Article:MonsterTRAK's Annual Entry-Level Job Survey Reveals an Improved Job Market for 2007 Graduates.
Next Article:Florida's Charlotte County Government Selects ISYS:web.
Topics:



Related Articles
ResCare Acquires California Home Care Business.
ResCare Acquires North Texas Home Care Provider.
ResCare Acquires Arizona Home Care.
ResCare Acquires Indiana and Kentucky Community Services Provider.
ResCare Acquires Georgia Community Services Provider.
ResCare Acquires Illinois Community Services Provider.
ResCare Acquires North Carolina Community Services Provider.
ResCare Acquires Kentucky Community Services Providers.
ResCare Signs Definitive Agreement to Purchase Multi-State in-Home Care Operations in Community Services Segment.
ResCare Acquires Virginia Company.

Terms of use | Copyright © 2012 Farlex, Inc. | Feedback | For webmasters | Submit articles