LOUISVILLE, Ky., July 7, 2010 (GLOBE NEWSWIRE) -- ResCare, Inc. (Nasdaq:RSCR) today announced that it has acquired ReadyCare, Inc., an Anchorage, Alaska-based company that provides both home care and residential services to the elderly and to people with developmental and intellectual disabilities. ReadyCare serves 550 people through offices in Homer, Fairbanks, Soldotna and Wasilla as well as its Anchorage location. The acquisition is expected to add annual revenues of approximately $17 million.
Ralph G. Gronefeld, Jr., ResCare president and chief executive officer, said, "We entered Alaska for the first time earlier this year and ReadyCare further expands our presence there. I believe ResCare has a promising future in Alaska, and it's a privilege to have the employees of ReadyCare join our ResCare family."
ResCare, with 35 years of experience helping people reach their highest level of independence, is one of the largest providers of home care to the elderly and persons with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. Based in Louisville, Kentucky, ResCare and its nearly 50,000 dedicated employees serve more than a million people a year in 41 states, Washington, D.C., Puerto Rico and a number of international locations. For more information about ResCare, please visit the Company's website at www.rescare.com.
From time to time, ResCare makes forward-looking statements in its public disclosures, including statements relating to expected financial results, revenues that might be expected from new or acquired programs and facilities, its development and acquisition activities, reimbursement under federal and state programs, financing plans, compliance with debt covenants and other risk factors, and various trends favoring privatization of government programs. In ResCare's filings under the federal securities laws, including its annual, periodic and current reports, the Company identifies important factors that could cause its actual results to differ materially from those anticipated in forward-looking statements. Please refer to the discussion of those factors in the Company's filed reports. Statements related to expected financial results are as of this date only, and ResCare does not assume any responsibility to update these statements.