BATON ROUGE, La., Aug. 01, 2016 (GLOBE NEWSWIRE) -- Amedisys, Inc. (NASDAQ:AMED), one of the nation’s leading home health care and hospice companies, today announced that it has signed a definitive agreement to acquire Professional Profiles, Inc., a personal care company with corporate headquarters in Danvers, Massachusetts. Under the terms of the agreement, Amedisys will acquire substantially all of the assets of Professional Profiles, Inc., for $4.4 million. The transaction is expected to close on September 1, 2016.
Professional Profiles, Inc., founded in 1988, provides non-medical services that range from personal care to personal shopping, heavy chores and major cleanouts. With 384 employees, the Company has branch offices in Brookline, Melrose and Lowell, and covers all of Eastern Massachusetts. It delivers care to approximately 1,000 clients per year and generates approximately $9.7 million in annualized revenues.
“This transaction solidifies our footprint in Massachusetts, building on our March acquisition of Associated Home Care, the leading personal care company in Greater Boston,” stated Amedisys President and Chief Executive Officer Paul Kusserow. “It also takes us yet another key step closer to achieving our long-term strategy in adding personal care to complement our home health and hospice businesses in Massachusetts.”
“We are thrilled to join the Amedisys family,” said Edward F. Kittredge, founder and president of Professional Profiles, Inc. “We’ll have the opportunity to tap into the clinical expertise and corporate infrastructure of a leading home healthcare provider and drive towards the vision of providing truly integrated at home care in Massachusetts.”
“The acquisition of another highly successful personal care company extends the continuum of care for patients in a region where Amedisys has already established a strong presence in home health and hospice,” said Mike Trigilio, President of Amedisys’ new Personal Care Division and executive leader of Associated Home Care. “Being able to care for a wider spectrum of clinical needs will bring extra value to our clients, their families and payers alike, as well as expanding the scope of our collective businesses.”
Amedisys will provide further detail during its second quarter 2016 earnings conference call.
Amedisys, Inc. is a leading healthcare at home Company delivering personalized home health, hospice and personal care. Amedisys is focused on delivering the care that is best for our patients, whether that is home-based personal care; recovery and rehabilitation after an operation or injury; care focused on empowering them to manage a chronic disease; or hospice care at the end of life. More than 2,200 hospitals and 61,900 physicians nationwide have chosen Amedisys as a partner in post-acute care. Founded in 1982, headquartered in Baton Rouge, LA with an executive office in Nashville, TN, Amedisys is a publicly held company. With more than 16,000 employees, in 421 care centers in 34 states, Amedisys is dedicated to delivering the highest quality of care to the doorsteps of more than 340,000 patients in need every year. For more information about the Company, please visit: www.amedisys.com.
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About Professional Profiles, Inc.:
Professional Profiles, Inc., was established in 1988 by Edward F. Kittredge as a full-service private home care agency in the Commonwealth of Massachusetts, providing non-medical personnel to elderly clients. Professional Profiles’ corporate headquarters is located in Danvers, Massachusetts, and also maintains three branch offices, located in Brookline, Lowell and Melrose MA. Professional Profiles covers a broad geographical service area and employs over 380 dedicated people. The company started as a family-owned private company providing private home care and consultation to a wide variety of health care clients. Professional Profiles is successful in its mission of offering a variety of services enabling clients to live an independent life-style in a safe and supportive setting in their own homes, and its reputation for quality service and commitment to client satisfaction is recognized throughout Eastern Massachusetts.