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According to T.J. Jubeir, managing partner of the private equity firm,"We are excited about this transaction, which clearly recognized the unique value that CareSouth has brought to these assets since their acquisition a few years ago." Rick Griffin, President and Chief Executive Officer of CareSouth, adds, “This is a powerful move that will allow CareSouth to better utilize our resources closer to our core operations." He further states, “While we were not seeking a buyer for these operations when Kindred approached us, this transaction made a lot of sense for all, both financially and strategically. We want to focus our attention on our substantial opportunities for growth and on extending our reach in the Southeast, Southwest, Gulf Coast and Mid-Atlantic areas of the United States. This transaction is a great opportunity for Kindred to expand its continuum of care in California, and the significant positive financial return for CareSouth allows us to accelerate our regional expansion strategy. It’s a win-win for everyone.” CareSouth continues to expand its business through a strategy of both internal growth and external acquisitions. In 2010, CareSouth extended its reach into Virginia with the purchase of two home healthcare agencies in Charlottesville and Newport News. That same year, the company entered into a joint venture in home health with Houston Medical Center in Warner Robins, Georgia; expanded its Washington division’s operations; and entered into a management arrangement with Paramount Health Care in Blountstown, Florida. The company acquired its first Florida home healthcare agency in Panama City and is currently expanding that agency via branch openings. CareSouth has a number of acquisitions planned for 2011 throughout the Southeast, Gulf Coast and Mid-Atlantic areas. CareSouth is one of the country’s largest providers of home health care services. Headquartered in Augusta, Georgia, the company operates Medicare certified home health agencies with about 35 locations in the states of Alabama, Florida, Georgia, North Carolina, Tennessee, Virginia, and Texas. CareSouth is committed to building and maintaining more trust from those it serves, producing more results with superior clinical outcomes and saving more time through outstanding customer service to its patients, their families and its referral sources. CareSouth consistently ranks above the national average in key metrics year-after-year. For further information, contact Capitol Partners at 202.955.7960. |