Mar 8 2010
Gentiva Health Services, Inc. (Nasdaq: GTIV), a leading provider of home health and hospice services, announced today that it has acquired Mississippi-based Heart to Heart Hospice. Terms of the transaction were not disclosed.
Established in 2001, Heart to Heart Hospice has offices in Starkville and Tupelo, Mississippi covering 22 counties in the state. Hospice services offered through this newest addition to Gentiva include skilled nursing, home health aide services, pain management and related medications, and emotional and spiritual support. In addition, a comprehensive bereavement program is offered to serve patient families. Gentiva entered the Mississippi market in 2008 through its acquisition of Gilbert's Home Health and Gilbert's Hospice Care.
"After a strong year in 2009, we are looking to continue to grow our Hospice business both organically and through acquisition. This transaction is consistent with our strategy to concentrate our resources on adding quality, clinically focused hospice providers with the highest standards of care and support," said Tony Strange, Gentiva CEO and President. "We are pleased to have Heart to Heart Hospice join the Gentiva family and look forward to working with them as we expand our coverage area to 44 counties covering north, central and southern Mississippi."
Net revenues for Heart to Heart Hospice approximated $4 million in 2009. The acquisition is not expected to have a material impact on Gentiva's financial position or results of operations in 2010.
SOURCE Gentiva Health Services, Inc.
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