Amedisys (AMED) Tumbles as President, COO and CIO Resign; Buys Hospice Business, Including 10 Locations
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Amedisys, Inc. (NASDAQ: AMED) today announced that it has acquired a hospice business with nine locations in South Carolina and one location in Mississippi. This acquisition, which represents Amedisys' entry into the hospice business in both South Carolina and Mississippi, will allow Amedisys to provide coverage to the entire state of South Carolina and to 17 counties in Mississippi. The business operates as Winyah Community Hospice Care in South Carolina and Allcare Hospice in Mississippi. The agencies had annualized revenue of approximately $17 million, but are not expected to add materially to Amedisys earnings in 2009.
Separately, Amedisys has accepted the resignation of Mr. Larry Graham, as President and COO of the Company. The resignation is effective September 3, 2009. Mr. Graham's duties will be temporarily assumed by William Borne, the Company's Chairman and CEO.
The Company also announced the departure of Chief Information Officer Alice Ann Schwartz, effective September 3, 2009.
Separately, Amedisys has accepted the resignation of Mr. Larry Graham, as President and COO of the Company. The resignation is effective September 3, 2009. Mr. Graham's duties will be temporarily assumed by William Borne, the Company's Chairman and CEO.
The Company also announced the departure of Chief Information Officer Alice Ann Schwartz, effective September 3, 2009.
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