Hospice Preferred Choice acquires hospice programs in four major markets

Business Wire, Sept 24, 1996

FORT SMITH, Ark.--(BUSINESS WIRE)--Sept. 24, 1996--Hospice Preferred Choice, a wholly-owned subsidiary of Beverly Enterprises, Inc. (NYSE: BEV), has completed the acquisition of hospice programs in Georgia, Texas, Missouri and Nebraska.

Annual revenues for these acquisitions total nearly $10 million. Purchase price and terms were not disclosed.

Peachtree Hospice in Atlanta was purchased from Alternative Healthcare Systems, Inc. Peachtree is Atlanta's largest hospice program and serves an average daily census of 170 patients.

Hospice Preferred Choice also purchased hospice programs in Omaha, Nebraska, Austin, Texas, and Kansas City, Missouri from Alternative Healthcare Enterprises, Inc. With these acquisitions, HPC now operates 18 hospice programs and 3 home health agencies in 10 states, ranking it as one of the largest publicly-held hospice and home health service providers in the nation.

Gary Krueger, President of HPC remarked, "These are quality programs and important additions to our growing organization. These programs further our mission of adding hospice care to the Beverly Enterprises network of post-acute services in selected markets across the nation. Our hospice/home health program is an important complement to Beverly's continuum of care."

Hospice care focuses on comfort and quality of life for a patient with a life-limiting illness and provides palliative (comfort-oriented) medical care rather than curative care. Care may be received at home or in hospitals, nursing homes, assisted living facilities and hospice houses. An essential goal of each program is to maintain the quality of life so that a person may live fully and comfortably to a peaceful conclusion.

Beverly Enterprises is the leading provider of post-acute healthcare in the United States. It operates 637 skilled nursing facilities, as well as transitional acute care hospitals, institutional and mail-service pharmacies, assisted living centers, outpatient therapy clinics, and hospice and home health centers. Beverly provides medical cost containment and managed care services in a nationwide network spanning 37 states and the District of Columbia.

CONTACT: Hospice Preferred Choice, Inc., Fort Smith

Gary Krueger, 501/452-6712