Gentiva Health (GTIV) Buys Heart to Heart Hospice
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Gentiva Health Services, Inc. (Nasdaq: GTIV) announced today that it has acquired Mississippi-based Heart to Heart Hospice. Terms of the transaction were not disclosed.
"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.
"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.
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