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Home Health & Hospice Week

Industry Notes:

Amedisys Sees Big Earnings Drop This Quarter

Published on Wed Apr 06, 2011

Amedisys Inc. saw its earnings drop in the latest quarter. The Baton Rouge, La.-based national chain reported net income of $15.3 million on revenues of $364.3 million for the quarter ended March 31. That's down from a $36.8 million profit on $413.0 million in revenues for the year-ago quarter. "Soft admissions volume drove revenue below our expectations," Amedisys CEO William Borne says in a release. Amedisys also announced its acquisition of the hospice operations of Hackensack University Medical Center in New Jersey. Hospice of Hackensack has annual revenue of about $5 million. It operates one hospice agency and one eight-bed hospice inpatient unit serving Bergen and Hudson counties, but is licensed to provide care for all counties in New Jersey, Amedisys says in a separate release.  The acquisition builds on Amedisys' recent $125 million buy of Beacon Hospice in New England (see Eli's HCW, Vol. XX, No. 16, p. 128).
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