LOUISVILLE, Ky., Oct. 22, 2009 (GLOBE NEWSWIRE) -- ResCare, Inc. (Nasdaq:RSCR), the nation's leading provider of residential, training, education, workforce and support services for people with special needs, today announced that it has acquired the assets of All Quality Care, a Newton, New Jersey, home care agency providing hourly nursing and aide services, case management, wound care, pediatric and IV therapy as well as other services to assist people in their homes. All Quality Care serves approximately 220 people in 10 counties including Sussex, Hunterdon, Warren and Essex. Annual revenues are expected to be approximately $5 million and include a mix of private, insurance and Medicaid. All Quality Care will be a part of ResCare HomeCare.
"We welcome All Quality Care to the ResCare HomeCare family. They offer exceptional services in New Jersey, which expands our home care services into our 31st state," said Ralph G. Gronefeld, Jr., ResCare president and chief executive officer. "Their services fit well into our current business plan and will help us reach our goal of establishing a national home care presence."
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.