Friday, May 11, 2007

Home Care Contributes to ResCare Profit Growth

LOUISVILLE, Ky. — Res-Care Inc. is reaffirming a full-year profit outlook between $1.24 and $1.28 per share on projected revenue of $1.43 billion. In 2006, the company earned $1.11 per share on revenue of $1.3 billion.

Chief Executive Ralph Gronefeld said the company's recent acquisition of Kelly Home Care Services bodes well for the company's future earnings. "We expect that home care will continue to be a rapidly growing sector as demand increases with the aging of the American population."

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Blogger's note: Res-Care has become the largest consolidator of private duty home care companies in the country. Their Kelly acquisition is just the most recent in a series of purchases of non-medical home care companies. While the Private Duty Home Care sector remains highly fragmented, there are a few companies like Res-Care who are purchasing companies and growing their "company owned" locations.

Home Care responds to Tornado Disaster in Kansas

Via Christi Home Care has a collection drive under way for patients and families affected by Friday's tornado in Greensburg.

The unit of Via Christi Wichita Health Network said it and its staff have donated and purchased personal care items for Greensburg residents and are opening the drive to all of the network's employees, including at the St. Francis, St. Joseph, Good Shepherd and Our Lady of Lourdes campuses.

Via Christi Home Care said it had approximately 40 home care patients in Greensburg. On Saturday morning, its staff in Hays and Dodge City worked to locate its Greensburg patients and provide them home medical equipment and oxygen.