Help At Home Inc. enters into letter of intent to acquire Alliance Home Health Inc

Business Wire, Feb 1, 1996

CHICAGO--(BUSINESS WIRE)--Feb. 1, 1996--Help At Home Inc. (NASDAQ:HAHI; WARRANTS: NASDAQ:HAHIW) announced today that it has entered into a letter of intent to purchase substantially all of the assets of Alliance Home Health Inc., of Tulsa, Oklahoma.

Alliance, a Medicare certified Home Health Agency, provides skilled nursing and related services through 12 certified Medicare offices throughout the state of Oklahoma.

The acquisition will give Help At Home Inc. a major foothold in Oklahoma, extend its Home Health Care Programs into that state's burgeoning home care market, and provide economies of scale. According to its unaudited financial statements, Alliance is reporting $5.9 million in gross revenues for its fiscal year ended Sept. 30, 1995.

"We are obviously excited about this potential acquisition, as it instantly gives us a major presence in Oklahoma," said Lou Golstein, chairman and CEO of Help At Home Inc.

Terms of the transaction include payment by Help At Home Inc. of $500,000 at the closing plus the assumption of certain liabilities. It is expected that the acquisition will close in February 1996, subject to negotiation and execution of a definitive acquisition agreement, the results of a due diligence review including a review of Alliance's audited financial statements.

Help At Home Inc. provides a comprehensive Homecare Program in Illinois and Missouri, to elderly and disabled persons within their homes.

CONTACT: Help At Home Inc., Chicago

Joel Davis, 312/461-9000 ext. 76