Amedisys Board of Directors Authorizes $100 million Stock Repurchase Program
February 25 2019 - 4:30PM
Amedisys, Inc. (NASDAQ: AMED), America’s leading independent home
health, hospice and personal care company, today announced that its
Board of Directors has authorized a stock repurchase program, under
which the Company may repurchase up to $100 million of its
outstanding common stock through March 1, 2020.
Paul B. Kusserow, President and Chief Executive Officer, stated,
“While accretive acquisitions remain our first priority for capital
deployment, we believe that opportunistic share repurchases should
always be a consideration as part of a diversified capital
allocation strategy. We feel strongly that the improvements we’ve
seen in cash flow over the past year will allow us to continue
executing on our acquisition pipeline and return capital to
shareholders if appropriate.”
Under the stock repurchase program, the Company may repurchase
its common stock from time to time, in amounts, at prices, and at
such times as the Company deems appropriate, subject to market
conditions and other considerations and in accordance with
applicable federal securities laws and other legal requirements.
The Company's repurchases may be executed using open market
purchases, unsolicited or solicited privately negotiated
transactions, an accelerated stock repurchase program, and/or a
10b5-1 trading plan.
Media Contact: |
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Investor Contact: |
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Kendra Kimmons |
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Nick Muscato |
Vice President of Marketing &
Communications |
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Vice President of Strategic Finance |
225-299-3708 |
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615-928-5452 |
kendra.kimmons@amedisys.com |
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nick.muscato@amedisys.com |
Forward-Looking Statements: When included in
this press release, words like “believes,” “belief,” “expects,”
“plans,” “anticipates,” “intends,” “projects,” “estimates,” “may,”
“might,” “would,” “should,” “will” and similar expressions are
intended to identify forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, but are not limited to,
statements regarding the Company’s intention to repurchase shares
of its common stock, the intended timing and method of
implementation of the stock repurchase program, and the Company’s
capital deployment plans. These forward-looking statements involve
a variety of risks and uncertainties that could cause actual
results to differ materially from those described therein. These
risks and uncertainties include, but are not limited to the
following: our ability to comply with requirements stipulated in
our corporate integrity agreement, changes in or our failure to
comply with existing federal and state laws or regulations or the
inability to comply with new government regulations on a timely
basis, changes in Medicare and other medical payment levels, our
ability to open care centers, acquire additional care centers and
integrate and operate these care centers effectively, competition
in the healthcare industry, changes in the case mix of patients and
payment methodologies, changes in estimates and judgments
associated with critical accounting policies, our ability to
maintain or establish new patient referral sources, our ability to
attract and retain qualified personnel, changes in payments and
covered services by federal and state governments, future cost
containment initiatives undertaken by third-party payors, our
access to financing, our ability to meet debt service requirements
and comply with covenants in debt agreements, business disruptions
due to natural disasters or acts of terrorism, our ability to
integrate, manage and keep our information systems secure, our
ability to realize the anticipated benefits of the acquisition of
Compassionate Care Hospice, and changes in law or
developments with respect to any litigation relating to the
Company, including various other matters, many of which are beyond
our control.
Because forward-looking statements are inherently subject to
risks and uncertainties, some of which cannot be predicted or
quantified, you should not rely on any forward-looking statement as
a prediction of future events. We expressly disclaim any obligation
or undertaking and we do not intend to release publicly any updates
or changes in our expectations concerning the forward-looking
statements or any changes in events, conditions or circumstances
upon which any forward-looking statement may be based, except as
required by law.
About Amedisys: Amedisys, Inc. is a leading
healthcare at home Company delivering personalized home health,
hospice and personal care. Amedisys is focused on delivering the
care that is best for our patients, whether that is home-based
personal care; recovery and rehabilitation after an operation or
injury; care focused on empowering them to manage a chronic
disease; or hospice care at the end of life. More than 3,000
hospitals and 65,000 physicians nationwide have chosen Amedisys as
a partner in post-acute care. Founded in 1982, headquartered in
Baton Rouge, LA with an executive office in Nashville, TN, Amedisys
is a publicly held company. With more than 21,000 employees in 472
care centers in 38 states and the District of Columbia, Amedisys is
dedicated to delivering the highest quality of care to the
doorsteps of more than 376,000 patients and clients in need every
year. For more information about the Company, please
visit: www.amedisys.com.
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