Addus HomeCare Corporation (Nasdaq: ADUS), a comprehensive provider of home-based social and medical services, announced today the award of three new contracts that broaden its presence in the growing Southeast market.
Addus was the successful bidder for the three new contracts to provide in-home care under a combination of state and federal funding sources in three North Carolina counties. These contracts, which run through June 2011 and are renewable on an annual basis, are expected to add more than 100 consumers, in aggregate, to the Company. Addus also recently opened a new office in Gulfport, Mississippi, marking the Company's entry into its 19th state.
Mark Heaney, President and Chief Executive Officer of Addus HomeCare, said, "The new contract awards in North Carolina build on our existing presence in the State, and we are pleased to have been selected as the provider of choice in a competitive bidding process. In Mississippi, we recently received our Medicaid provider number and have already begun offering services to consumers. Combined with our recently announced acquisition of Advantage Health Systems, which has offices in South Carolina and Georgia, and our expanding business in Alabama, we now have a strong and growing presence in the Southeast market. Favorable demographics, coupled with developing in-home care programs, align for an excellent opportunity for Addus to grow its business in this region."