CINCINNATI--(BUSINESS WIRE)--Aug. 26, 2004--Chemed Corporation
(NYSE:CHE) today announced that its VITAS Healthcare Corporation
subsidiary has acquired Haven House Hospice located in Atlanta,
Georgia, effective August 26, 2004. This acquisition adds
approximately 30 patients in a new market to VITAS' network of hospice
programs. VITAS is the nation's largest provider of end-of-life
hospice care services. Terms of the transaction were not disclosed.
"This acquisition reflects VITAS' entry into markets that present
further opportunities for growth and expansion. As one of Atlanta's
oldest hospice programs, Haven House has demonstrated an enduring
commitment to serving patients and families with quality hospice
services. VITAS looks forward to honoring that commitment and growing
to meet the expanding end-of-life needs of the Atlanta community,"
stated Timothy O'Toole, President and Chief Executive Officer of
"Over the years, VITAS has completed a number of successful
acquisitions of both nonprofit and for-profit hospice operations,"
O'Toole added. "In addition, VITAS has launched a number of new-start
locations and currently has eight new-start programs in three new
states, five of which are now serving patients and families."
Listed on the New York Stock Exchange and headquartered in
Cincinnati, Ohio, Chemed Corporation (www.chemed.com) is the nation's
largest provider of end-of-life hospice care services through its
VITAS Healthcare Corporation subsidiary. Chemed also maintains a
presence in the residential and commercial repair-and-maintenance
industry through two subsidiaries. Roto-Rooter is North America's
largest provider of plumbing and drain cleaning services. Service
America Network Inc. provides major-appliance and
heating/air-conditioning repair, maintenance, and replacement
Statements in this press release or in other Chemed communications
may relate to future events or Chemed's future performance. Such
statements are forward-looking statements and are based on present
information Chemed has related to its existing business circumstances.
Investors are cautioned that such forward-looking statements are
subject to inherent risk that actual results may differ materially
from such forward-looking statements. Further, investors are cautioned
that Chemed does not assume any obligation to update forward-looking
statements based on unanticipated events or changed expectations.
VITAS Innovative Hospice Care(R), a pioneer and leader in the
hospice movement since 1978, is the nation's largest provider of
end-of-life care. Headquartered in Miami, Florida, VITAS operates 31
hospice programs in 11 states (California, Connecticut, Delaware,
Florida, Georgia, Illinois, New Jersey, Ohio, Pennsylvania, Texas, and
Wisconsin). VITAS, which has evolved from its founding as a volunteer
organization by a United Methodist Minister and an oncology nurse,
today employs 6,550 professionals who care for terminally ill patients
daily, primarily in the patients' homes, but also in the company's 19
hospice inpatient units, as well as in hospitals, nursing homes and
assisted-living facilities/residential-care facilities for the
elderly. At the conclusion of the second quarter of 2004, VITAS
reported an average daily census of 8,581. The name, VITAS (pronounced
VEE-tahs), is derived from the Latin word for lives. It symbolizes the
VITAS mission: To preserve the quality of life for those who have a
limited time to live.
CONTACT: Chemed Corporation
David P. Williams, 513-762-6901
SOURCE: Chemed Corporation