ResCare Acquires Texas Home Care Services

Main Category: Caregivers / Homecare
Article Date: 05 May 2008 - 0:00 PDT

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ResCare, Inc. (NASDAQ: RSCR) the nation's leading provider of residential, training, educational and support services for people with disabilities and special needs, announced the acquisition of Select Health Care Services, a home health care agency located in Baytown, Texas, serving 30 counties in the Houston area. Select Health Care offers programs for adult and pediatric patients that include companion care, skilled nursing, physical, occupational and speech therapy. Select Home Care revenues are primarily through Medicaid waiver payments and licensed, Medicare-certified, personal assistant services with approximately 5% coming from private duty home health services. Annual revenue is estimated to be $7 million.

Ralph G. Gronefeld, Jr., ResCare president and chief executive officer, said, "The acquisition of Select Health Care Services expands our home care offerings in Texas and fits perfectly into our ResCare HomeCare operations nationwide. We welcome the employees of Select Health Care Services, and we look forward to working closely with them to further enhance the services offered to the people served in Houston and the surrounding areas."

ResCare, with 30+ years of experience helping people reach their highest level of independence, is one of the largest providers of home care to the elderly and those with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. Based in Louisville, Kentucky, ResCare and its 42,000 dedicated employees serve daily more than 65,000 people in 37 states, Washington, D.C., Puerto Rico and in a growing number of international locations. For more information about ResCare, please visit the Company's website at http://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 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.

http://www.rescare.com