LOUISVILLE, Ky., Oct. 16, 2009 (GLOBE NEWSWIRE) -- ResCare, Inc. (Nasdaq:RSCR), the nation's leading provider of employment, training, educational and support services for people with special needs, issued comments concerning today's announcement by Indiana Governor Mitch Daniels regarding the delivery of welfare services in the state. ResCare's employment training services unit, Arbor Education & Training, has been informed that it will be part of a new private/public partnership in delivering welfare to work services in Indiana.
Governor Daniels announced today that the state would be ending its welfare privatization contract with IBM as of December 14, 2009. Indiana's Family and Social Services Administration (FSSA) will replace IBM as the integrator of welfare services in the state and is developing alternate plans for welfare service delivery. The FSSA has informed Arbor that it "...will still be a vital part of the new system."
Ralph G. Gronefeld, Jr., president and chief executive officer of ResCare, said today, "We are excited about this new partnership and its potential for ResCare. We expect to provide more details on the financial impact as plans progress. I am very proud of the contributions our employees have made to Indiana's innovative welfare delivery system. We believe, based on our performance to date, that we will continue to be an important part of the solution for Indiana's citizens."
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 more than 46,000 dedicated employees serve daily more than 65,000 people in 39 states, Washington, D.C., Puerto Rico and in a growing 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. Forward-looking Statements in this release related to expected financial results are as of this date only, and ResCare does not assume any responsibility to update these statements.