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Health Plan News

Timely Health Plan News and Commentary

Health Plan News
Home Archives for Senior Care

Senior Care News

Senior care covers the services that older adults rely on beyond a doctor's visit: home health care, skilled nursing facilities, assisted living, long-term care, hospice, caregiving support and the technology that helps people age safely at home. These services are financed through a mix of Medicare, Medicaid, long-term care insurance and personal savings, and the rules for each are different.

What We Cover

This section covers news from home health and home care agencies, nursing homes and senior living providers, long-term care financing, caregiver programs, and advocacy organizations such as AARP. We also report on programs from health plans that address the needs of older members, including food insecurity, transportation, social isolation and in-home monitoring.

Who Pays for Senior Care

A common misunderstanding is that Medicare pays for long-term care. Original Medicare covers short-term skilled nursing and home health care under specific conditions, but it does not pay for long-term custodial care, the help with daily activities such as bathing and dressing that many older adults eventually need. Medicaid is the largest public payer of long-term care for people who qualify, and some Medicare Advantage plans now offer limited supplemental benefits for in-home support.

For coverage details, see our Medicare and Medicaid and CHIP sections. Provider news from hospitals and post-acute care appears in Hospitals and Health Systems, aging-in-place technology appears in Health Technology and AI, and research on conditions such as Alzheimer's disease appears in Public Health and Research.

The latest senior care news appears below, newest first.

Imaging3 to Host Conference Call

Posted on August 11, 2010 Written by Editor

SOURCE: Imaging3, Inc.

BURBANK, CA–(Marketwire – August 11, 2010) –  Imaging3™, Inc. (OTCBB: IMGG), developer of a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time, announced today that on Thursday August 12, 2010 at 1:00pm PST, (4:00pm EST) the company’s CEO, Mr. Dean Janes, will be hosting a conference call. To join the conference call, please call 1-888-373-5705 and enter passcode 364039 followed by the pound sign (#). You will be connected to the conference call in a listen only mode, and then lines will be opened for questions following the presentation.

The purpose of the call is to update Shareholders and other interested parties of the current developments with the company.

A limited number of lines will be available for this conference call. The lines will open up 5 minutes prior to the start of the call.

A recording of the conference call will be made available on the company’s website as soon as it is available. Imaging3 will notify shareholders and others who subscribe to the company newsletter. Anyone who would like to be added to this list is encouraged to sign-up for the e-mail based newsletter on the company’s website using the following link — http://www.imaging3.com/newsletters_signup.html.

About Imaging3
Imaging3, Inc., founded in 1993, is a leading provider of advanced technology medical imaging devices. The Company has developed a breakthrough medical imaging device that produces 3D medical diagnostic images of virtually any part of the human body in real-time. Because these 3D images are instantly constructed in real-time, they can be used for any current or new medical procedures in which multiple frames of reference are required to perform medical procedures on or in the human body. Visit the company’s website at http://www.imaging3.com for more information.

Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect” and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, technological obsolescence, competition from other medical instrument(s) and imaging companies, lack of capital, unexpected costs, failure or delay of FDA approval, absence of revenue, the impact on the national and local economies resulting from an economic recession or terrorist actions, and U.S. actions subsequently; unavailability of financing for the Company or its customers, product malfunction and potential product liability claims, and other factors detailed in reports filed by the Company.

Contact:
Imaging3, Inc.
Investor Relations
800-900-9729

Filed Under: Senior Care

HearUSA Reports Second Quarter 2010 Results

Posted on August 10, 2010 Written by Editor

SOURCE: HearUSA

WEST PALM BEACH, FL–(Marketwire – August 10, 2010) – HearUSA, Inc. (NYSE Amex: EAR), a
leader among the nation’s hearing care providers, reported financial
results for the second quarter ended June 26, 2010.

Financial Results for Second Quarter 2010

In the second quarter of 2010, net revenues increased 9% to $21.4 million
from $19.6 million in the previous quarter, but decreased 6% from $22.7
million in the second quarter of 2009. The decrease year-over-year was
principally the result of some insurance plans eliminating, changing or
limiting their hearing care benefits at the beginning of 2010. The company
implemented a number of plans and strategies during the first quarter of
2010 which helped to replace most of the lost insurance business, including
increased marketing to its existing insurance base and private pay
customers. The company also increased the marketing of its AARP Hearing
Care Program and made it available to AARP members in 45 states through all
177 HearUSA centers and a network of independent AARP Hearing Care Program
providers. These combined efforts were the primary cause of the 9% increase
in second quarter revenue over the previous quarter.

The loss from continuing operations totaled $1.9 million in the second
quarter of 2010, compared to a loss of $2.5 million in the previous
quarter, and income of $963,000 in the second quarter of 2009. The loss
from continuing operations includes AARP advertising costs of $957,000
incurred in the second quarter of 2010 compared to $253,000 in the previous
quarter and none incurred in the second quarter of 2009. Advertising,
royalties and administrative costs associated with the AARP program totaled
$1.3 million in the second quarter of 2010, $588,000 in the previous
quarter and $142,000 in the second quarter of 2009.

Net loss attributable to common stockholders was $2.2 million or $(0.05)
per basic and diluted share in the second quarter of 2010, as compared to a
net loss of $2.7 million or $(0.06) per basic and diluted share in the
previous quarter of 2010, and net income of $1.1 million, or $0.03 per
basic and $0.02 per diluted share, in the same year-ago period. Net loss
attributable to common shareholders in the second quarter of 2009 included
income from discontinued operations of $336,000 or $0.01 per basic and
diluted share.

Management Commentary

“Our focus during the second quarter of 2010 was to increase revenues to
offset the loss of the managed care business in the first quarter and to
expand the reach of the AARP program,” said Stephen Hansbrough, CEO and
chairman of HearUSA. “The 9% increase in revenues over the first quarter of
2010 and the successful launch of the AARP program to AARP members in a
total of 45 states has given us a strong base for continued success going
into the third quarter.

“We have seen appointments grow at an accelerating pace since we launched
our AARP national advertising campaign, and AARP included the HearUSA
program in its publications and web sites in the latter half of the second
quarter. We expect this momentum to continue and believe that center
revenues will grow between 9% and 15% in the second half of 2010 when
compared to the first half, and our target is to grow center revenues 15%
to 20% in 2011 when compared to 2010.

“We will focus primarily on expanding the number of independent providers
participating in the AARP network during the rest of 2010 and expect to
have more than 800 participating providers by the end of the year,”
continued Mr. Hansbrough. “Both HearUSA and AARP will also continue to
increase awareness and member communications during the remainder of the
year. We believe that it will take time to fully develop the provider
network and educate the AARP membership base. Our targets for 2011 are to
expand the AARP network to more than 2,000 participating providers and
generate AARP network sales of over 30,000 units.”

Conference Call

HearUSA will hold a conference call at 4:30 p.m. Eastern time, August 10,
2010, to discuss its second quarter 2010 financial results. The company’s
senior management will host the presentation, which will be followed by a
question and answer period.

To participate in the call, dial the appropriate number 5-10 minutes prior
to the start time, request the HearUSA conference call and provide the
conference ID: 7HEARUSA.

Date: Tuesday, August 10, 2010
Time: 4:30 p.m. Eastern time (1:30 p.m. Pacific time)
Domestic callers: 1-800-862-9098
International callers: 1-785-424-1051
Conference ID#: 7HEARUSA

A Web simulcast and replay will be available via the investor relations
section of the company’s website at www.hearusa.com.

If you have any difficulty connecting with the conference call or webcast,
please contact the Liolios Group at 1-949-574-3860.

A telephone replay of the call will be available later that evening and
will be accessible until August 17, 2010:

Toll-free replay number: 1-877-870-5176
International replay number: 1-858-384-5517
Replay Pin Number: 11721

About HearUSA

HearUSA is the recognized leader in hearing care for the nation’s top
managed care organizations through its 177 company-owned centers and
network of more than 2,000 hearing care providers. HearUSA is the nation’s
only hearing care provider accredited by URAC, an independent, nonprofit
health care accrediting organization dedicated to promoting health care
quality through accreditation, certification and commendation. HearUSA is
also the administrator of the AARP Hearing Care Program, designed to help
millions of Americans aged 50+ who have untreated hearing loss. For more
information about HearUSA visit www.hearusa.com, or go to
www.hearingshop.com for a wide selection of hearing related products
available for purchase online.

Forward Looking Statements

This press release contains forward-looking statements within the meaning
of the Securities Litigation Reform Act of 1995, including those statements
that HearUSA plans to expand its AARP program to include more than 800
participating independent hearing care providers during the course of 2010
and over 2,000 participating providers in 2011; that the company expects
second quarter 2010 momentum to continue; that the company believes that
center revenues will grow between 9% and 15% in the second half of 2010
when compared to the first half of 2010; that the company’s target is to
grow revenues 15% to 20% in 2011 when compared to 2010; and that the
company plans to generate AARP network sales of over 30,000 units. These
statements involve certain risks and uncertainties that could cause actual
results to differ materially from those in the forward-looking statements.
Potential risks and uncertainties include such factors as the company’s
continuing ability to replace lost and decreased revenue from insurance
contracts with increased self-pay revenue, replacement insurance agreements
and other revenue; the company’s ability to attract and retain a sufficient
number of independent providers in all 50 states to participate in the AARP
program; the company’s ability to successfully integrate the AARP program
into its company-owned centers; the ability of the Company to capitalize on
the advertising efforts for the AARP program; the company’s ability to
control costs; the company’s ability to generate sufficient cash flows to
fund its various advertising campaigns; the ability of the company to
maintain unit sales of Siemens hearing aids; market demand for the
company’s goods and services; changes in the pricing environment; general
economic conditions in those geographic regions where the company’s centers
are located; consumer confidence in the general economy; the impact of
competitive products; and other risks and uncertainties described in the
company’s filings with the Securities and Exchange Commission, including
the company’s Form 10-K for the fiscal year ended December 26, 2009.



                               HearUSA, Inc.
                  Consolidated Statements of Operations
            Three Months Ended June 26, 2010 and June 27, 2009
                                (unaudited)


                                                 June 26,       June 27,
                                                   2010           2009
                                               ------------   ------------
                                                 (Dollars in thousands,
                                                except per share amounts)

Net revenues
Hearing aids and other products                $     19,796   $     20,653
Services                                              1,613          2,014
                                               ------------   ------------
Total net revenues                                   21,409         22,667
                                               ------------   ------------

Operating costs and expenses
Hearing aids and other products                       5,290          5,072
Services                                                412            388
                                               ------------   ------------
Total cost of products sold and services
 excluding depreciation and amortization              5,702          5,460

Center operating expenses                            12,209         10,908
General and administrative expenses                   3,769          3,661
Depreciation and amortization                           564            588
                                               ------------   ------------
Total operating costs and expenses                   22,244         20,617
                                               ------------   ------------
Income (loss) from operations                          (835)         2,050
Non-operating income (expenses)
Gain (loss) on foreign exchange                          (5)           375
Interest income                                           5              -
Interest expense                                       (841)        (1,252)
                                               ------------   ------------
Income (loss) from continuing operations
 before income tax expense                           (1,676)         1,173
Income tax expense                                     (220)          (210)
                                               ------------   ------------
Income (loss) from continuing operations             (1,896)           963
Discontinued operations attributable to
 HearUSA, Inc.
Income from discontinued operations, net of
 income tax benefit of $270 in 2009                       -            250
Gain on sale of discontinued operations                   -          1,632
Income tax expense on sale of discontinued
 operations                                               -         (1,546)
                                               ------------   ------------
Income from discontinued operations                       -            336
                                               ------------   ------------
Net income (loss)                                    (1,896)         1,299

Net income attributable to noncontrolling
 interest                                              (238)          (131)
                                               ------------   ------------
Net income (loss) attributable to HearUSA,
 Inc.                                                (2,134)         1,168
Dividends on preferred stock                            (32)           (35)
                                               ------------   ------------

Net Income (loss) attributable to HearUSA,
 Inc. common stockholders                      $     (2,166)  $      1,133
                                               ============   ============

Loss from continuing operations attributable
 to HearUSA, Inc. common stockholders per
 common share - basic                          $      (0.05)  $       0.02
                                               ============   ============
Loss from continuing operations attributable
 to HearUSA, Inc. common stockholders per
 common share - diluted                        $      (0.05)  $       0.02
                                               ============   ============

Net loss attributable to HearUSA, Inc. common
 stockholders per common share - basic         $      (0.05)  $       0.03
                                               ============   ============
Net loss attributable to HearUSA, Inc. common
 stockholders per common share - diluted       $      (0.05)  $       0.02
                                               ============   ============

Weighted average number of shares of common
 stock outstanding - basic                           44,922         44,837
                                               ============   ============

Weighted average number of shares of common
 stock outstanding - diluted                         44,922         45,340
                                               ============   ============

Amounts attributable to HearUSA, Inc. common
 stockholders:

Income (loss) from continuing operations, net
 of tax                                        $     (2,134)  $        832
Discontinued operations, net of tax                       -            336
                                               ============   ============

Net income (loss) attributable to HearUSA,
 Inc. common stockholders                      $     (2,134)  $      1,168
                                               ============   ============





                               HearUSA, Inc.
                        Consolidated Balance Sheets
                                (unaudited)


                                                 June 26,     December 26,
ASSETS                                             2010           2009
                                               ------------   ------------
                                                 (Dollars in thousands,
                                                except per share amounts)
Current assets
Cash and cash equivalents                      $      4,026   $      7,037
Short-term marketable securities                      1,306          4,106
Accounts and notes receivable, less allowance
 for doubtful accounts of $677 and $616               5,506          5,554
Inventories                                           1,409          1,844
Prepaid expenses and other                              417            464
                                               ------------   ------------
Total current assets                                 12,664         19,005
Property and equipment, net                           3,463          4,021
Goodwill                                             51,928         51,495
Intangible assets, net                               12,529         12,816
Deposits and other                                      698            731
Restricted cash and cash equivalents                  3,252          3,245
                                               ------------   ------------
Total Assets                                   $     84,534   $     91,313
                                               ============   ============

LIABILITIES AND STOCKHOLDERS'  EQUITY
Current liabilities
Accounts payable                               $      9,458   $      7,070
Accrued expenses                                      1,907          2,253
Accrued salaries and other compensation               3,224          3,520
Current maturities of long-term debt                  5,357          5,983
Income taxes payable                                      -          1,974
Dividends payable                                        35             35
                                               ------------   ------------
Total current liabilities                            19,981         20,835
                                               ------------   ------------
Long-term debt                                       33,781         36,139
Deferred income taxes                                 7,775          7,335
                                               ------------   ------------
Total long-term liabilities                          41,556         43,474
                                               ------------   ------------
Commitments and contingencies
                                               ------------   ------------

Stockholders' equity
Preferred stock (aggregate liquidation
 preference $2,330, $1 par, 7,500,000 shares
 authorized)
Series H Junior Participating
 (none outstanding)                                       -              -
Series J (233 shares outstanding)                         -              -
                                               ------------   ------------
Total preferred stock                                     -              -

Common stock: $.10 par; 75,000,000 shares
 authorized 45,451,160 and 45,381,750 shares
 issued                                               4,545          4,538
Additional paid-in capital                          138,359        137,863
Accumulated deficit                                (119,804)      (114,982)
Treasury stock, at cost: 523,662 common shares       (2,485)        (2,485)
                                               ------------   ------------
Total HearUSA, Inc. Stockholders' Equity             20,615         24,934

Noncontrolling interest                               2,382          2,070
                                               ------------   ------------
Total Stockholders' equity                           22,997         27,004
                                               ------------   ------------
Total Liabilities and Stockholders' Equity     $     84,534   $     91,313
                                               ============   ============

Company Contact:
HearUSA, Inc.
Stephen J. Hansbrough
Chairman and CEO
Tel 561-478-8770, ext. 132

Investor Relations
Scott Liolios or Ron Both
Liolios Group, Inc.
Email: Email Contact
Tel 949-574-3860

Filed Under: Senior Care

Long Term Care & Nursing Home Information Systems Markets to Reach $674.9 Million by 2016

Posted on August 10, 2010 Written by Editor

SOURCE: MarketResearch.com

ROCKVILLE, MD–(Marketwire – August 10, 2010) –  MarketResearch.com has announced the addition of Wintergreen Research’s new report “Long Term Care and Nursing Home Information Systems Market Shares, Strategies, and Forecasts, Worldwide, 2010 to 2016” to their collection of Information Technology market reports. For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2746054

New long term care information systems have revolutionized the market, creating units that work across the board in long term care situations. This evolution of the software means that clinicians have more flexibility of care decisions, caring for people.

Information systems are emerging as a significant part of the nursing home and long term care delivery systems. All facilities have some kind of automated systems, but this study addresses the industry specific systems that are evolving with industry specific financial management and process integration. Software leverages the efficiency of clinical process in ways that have never become possible before. The electronic patient record can be integrated with financial systems, increasing the efficiency of transmitting services description to the insurance providers.

The ability to capture services delivery electronically at the point of care is central to creating more efficient infrastructure for the providers. The system leverages virtually all the administrative and financial information needed to run a successful home care company. Information can be gathered right from the charts.

The significance of integration systems is not yet realized in nursing home information systems. Collaboration and electronic patient records promise to drive the efficiencies gained from electronic records in to the clinical delivery process, giving caretakers more time to spend with patients. As patients move from one care venue to another, the patient record is going to need to move with them. The hand©held, computer-based system guides home care clinicians through the entire patient care process. Clinicians can use structured record guides. The systems automate reporting.

The fundamental aspect of long term care and nursing home information systems implementation relates to patient treatment flexibility. The ability to be responsive to changing patient conditions is central to the task of controlling nursing home and skilled nursing facility costs. The ability of systems to support flexibility in managing patients to lower cost care delivery sites is anticipated to spur rapid growth of the electronic patient record for these facilities. Long term care and nursing home information systems markets at $225.8 million in 2009 are anticipated to reach $674.9 million by 2016.

Topics covered in the report include…

  • Nursing Home and Long Term Care Information Systems Market Description and Market Dynamics
  • Long Term Care Information Systems
  • Market Shares and Forecasts
  • Long Term Care Information System Product Description
  • Long Term Care Nursing Home Information Systems Technology
  • Long Term Care Nursing Company Profiles

For more information, visit http://www.marketresearch.com/product/display.asp?ProductID=2746054

Contact:
Veronica Franco
MarketResearch.com
[email protected]
240.747.3016

Click here to see all recent news from this company

Filed Under: Hospitals and Health Systems, Senior Care

Assisted Living Concepts, Inc. Announces Continued Strategy Successes; Reports Fourth Consecutive Quarter of Revenue and Private Pay Occupancy Growth

Posted on August 9, 2010 Written by Editor

SOURCE: Assisted Living Concepts, Inc.

MENOMONEE FALLS, WI–(Marketwire – August 9, 2010) – Assisted Living Concepts, Inc. (NYSE: ALC)

Highlights:

--  Increased average private pay occupancy by 122 and 8 units over the
    second quarter of 2009 and the first quarter of 2010, respectively
--  Increased overall and private pay rates by 5.8% and 3.8%, respectively
    over the second quarter of 2009
--  Increased Adjusted EBITDAR as a percent of revenues to 33.6%, up from
    32.3% in both the second quarter of 2009 and the first quarter of 2010
--  Adjusted EBITDAR as a percent of revenues would have been a record
    34.4% (excluding One-Time Charges)
--  Extended and expanded share repurchase program authorizing up to
    $15 million through August 9, 2011

Assisted Living Concepts, Inc. (“ALC”) (NYSE: ALC) reported net income of
$2.9 million in the second quarter of 2010. During the second quarter of
2010, ALC recorded the following “One-Time Charges”: an impairment charge
relating to a non-cash write-down of certain equity investments ($1.3
million net of income tax benefits); expenses associated with the
realignment of our divisions ($0.3 million net of income tax benefits);
and write-off of expenses incurred with an expansion project that the
company decided not to complete ($0.1 million net of income tax benefits).
Excluding the One-Time Charges, net income in the second quarter of 2010
would have been $4.6 million as compared to net income of $3.9 million in
the second quarter of 2009.

“Second quarter operating results were solid. For the fourth quarter in a
row we achieved positive private pay occupancy and revenue growth,”
commented Laurie Bebo, President and Chief Executive Officer. “Despite
continuing challenges in the economy and in particular with high
unemployment rates, we continue to be confident in our ability to increase
private pay occupancy and Adjusted EBITDAR margins throughout 2010.”

For the first six months of 2010, ALC reported net income of $6.5 million.
Excluding the One-Time Charges, net income for the first six months of 2010
would have been $8.2 million compared to a net loss from continuing
operations and a net loss of $7.7 million and $7.9 million in the first
six months of 2009, respectively. Excluding an impairment charge related
to the non-cash, non-recurring write-off of all goodwill ($14.7 million net
of income tax benefits) recorded in the first quarter of 2009, net income
from continuing operations and net income for the first six months of 2009
would have been $7.0 million and $6.8 million, respectively.

Diluted earnings per common share for the second quarter and the first six
months ended June 30, 2010 and 2009 were:

                                        Quarter ended    Six months ended
                                           June 30,          June 30,
                                        2010     2009     2010     2009
                                       ------   ------   ------   ------
Diluted earnings (loss) per common
 share from continuing operations      $ 0.25   $ 0.33   $ 0.55   $(0.65)
Diluted earnings (loss) per common
 share                                 $ 0.25   $ 0.33   $ 0.55   $(0.66)
Pro forma diluted earnings per common
 share from continuing operations
 excluding One-Time Charges            $ 0.39   $ 0.33   $ 0.70   $ 0.59(1)

(1) Excludes the goodwill write-off, net of income tax benefits.

One-Time Charges in the quarter ended June 30, 2010 resulted from:

1.  The reclassification of a decline in the fair market value of equity
    securities from a component of the Company's stockholders' equity to
    the Company's income statement. These equity securities represent
    legacy investments transferred from Extendicare Inc. in connection with
    the capitalization of ALC in November 2006.
2.  The realignment of ALC's divisional level management structure. In
    connection with this realignment, ALC incurred certain expenses
    primarily related to personnel.
3.  The decision not to complete an expansion project due to higher than
    anticipated site costs. We continue to evaluate existing owned
    properties for expansion growth.

Certain non-GAAP financial measures are used in the discussions in this
release in assessing the performance of the business. See attached tables
for definitions of Adjusted EBITDA and Adjusted EBITDAR, reconciliations of
net income (loss) to Adjusted EBITDA and Adjusted EBITDAR, calculations of
Adjusted EBITDA and Adjusted EBITDAR as a percentage of total revenues, and
non-GAAP financial measure reconciliation information.

As of June 30, 2010, ALC operated 211 senior living residences comprising
9,280 units.

The following discussions include the impact of the One-Time Charges and
exclude the impact of discontinued operations unless otherwise specified.

Quarters ended June 30, 2010, June 30, 2009, March 31, 2010

Revenues of $58.3 million in the second quarter ended June 30, 2010
increased $1.6 million or 2.9% from $56.7 million in the second quarter of
2009 and increased $0.4 million or 0.8% from the first quarter of 2010.

Adjusted EBITDA for the second quarter of 2010 was $14.5 million or 24.9%
of revenues and

--  increased $1.2 million or 9.1% from $13.3 million and 23.4% of revenues
    in the second quarter of 2009; and
--  increased $0.9 million or 6.7% from $13.6 million and 23.5% of revenues
    in the first quarter of 2010.

Adjusted EBITDAR for the second quarter of 2010 was $19.6 million or 33.6%
of revenues and

--  increased $1.3 million or 7.3% from $18.3 million and 32.3% of revenues
    in the second quarter of 2009; and
--  increased $0.9 million or 5.0% from $18.7 million and 32.3% of revenues
    in the first quarter of 2010.

Second quarter 2010 compared to second quarter 2009

Revenues in the second quarter of 2010 increased from the second quarter of
2009 primarily due to higher average daily revenue as a result of rate
increases ($2.2 million) and an increase in private pay occupancy ($1.2
million), partially offset by the planned reduction in the number of units
occupied by Medicaid residents ($1.8 million). Average private pay rates
increased in the second quarter of 2010 by 3.8% over average private pay
rates for the second quarter of 2009. Average overall rates, including the
impact of improved payer mix, increased in the second quarter of 2010 by
5.8% over comparable rates for the second quarter of 2009.

Both Adjusted EBITDA and Adjusted EBITDAR increased in the second quarter
of 2010 primarily due to an increase in revenues discussed above ($1.6
million) and a decrease in residence operations expenses ($0.5 million)
(this excludes the loss on disposal of fixed assets), partially offset by
an increase in general and administrative expenses ($0.8 million) (this
excludes non-cash equity based compensation) and, for Adjusted EBITDA only,
an increase in residence lease expense ($0.1 million). Residence
operations expenses decreased primarily from lower labor expenses.
Staffing needs in the second quarter of 2010 as compared to the second
quarter of 2009 decreased primarily because of a decline in the number of
units occupied by Medicaid residents who tend to have higher care needs
than private pay residents. In addition, general economic conditions
enabled us to hire new employees at lower wage rates. General and
administrative expenses increased as a result of expenses associated with
an all-company conference held in the second quarter of 2010 and expenses
associated with the realignment of our divisions.

Second quarter 2010 compared to the first quarter 2010

Revenues in the second quarter of 2010 increased from the first quarter of
2010 primarily due to one additional day in the second quarter ($0.6
million), an increase in the number of units occupied by private pay
residents ($0.1 million), and higher average daily revenue as a result of
rate increases ($0.1 million), partially offset by the planned reduction in
the number of units occupied by Medicaid residents ($0.4 million).

Increased Adjusted EBITDA and Adjusted EBITDAR in the second quarter of
2010 as compared to the first quarter of 2010 resulted primarily from a
decrease in residence operations expenses ($0.9 million) (this excludes the
loss on disposal of fixed assets) and an increase in revenues discussed
above ($0.4 million), partially offset by an increase in general and
administrative expenses ($0.4 million) (this excludes non-cash equity-based
compensation). Residence operations expenses decreased primarily from
decreases in utility expenses resulting from normal seasonal fluctuations.
General and administrative expenses increased as a result of expenses
associated with an all-company conference held in the second quarter of
2010 and expenses associated with the realignment of our divisions.

Six months ended June 30, 2010 and June 30, 2009

Revenues of $116.2 million in the six months ended June 30, 2010 increased
$2.4 million or 2.1% from $113.8 million in the six months ended June 30,
2009.

Adjusted EBITDA for the six months ended June 30, 2010 was $28.1 million,
or 24.2% of revenues and

--  increased $3.3 million or 13.1% from $24.8 million and 21.8% of
    revenues in the six months ended June 30, 2009.

Adjusted EBITDAR for the six months ended June 30, 2010 was $38.3 million,
or 33.0% of revenues and

--  increased $3.5 million or 10.2% from $34.7 million and 30.6% of
    revenues in the six months ended June 30, 2009.

Six months ended June 30, 2010 compared to six months ended June 30, 2009

Revenues in the six months ended June 30, 2010 increased from the six
months ended June 30, 2009 primarily due to higher average daily revenue
from rate increases ($4.2 million) and an increase in private pay occupancy
($2.1 million), partially offset by the planned reduction in the number of
units occupied by Medicaid residents ($3.9 million). Average private pay
rates increased in the six months ended June 30, 2010 by 3.8% over average
private pay rates for the six months ended June 30, 2009. Average overall
rates, including the impact of improved payer mix, increased in the six
months ended June 30, 2010 by 5.6% over the comparable rates for the six
months ended June 30, 2009.

Both Adjusted EBITDA and Adjusted EBITDAR increased in the six months ended
June 30, 2010 primarily from a decrease in residence operations expenses
($2.2 million) (this excludes the loss on disposal of fixed assets), and
the increase in revenues discussed above ($2.4 million), partially offset
by an increase in general and administrative expenses ($1.1 million) (this
excludes non-cash equity based compensation) and, for Adjusted EBITDA only,
an increase in residence lease expense ($0.3 million). Residence
operations expenses decreased primarily from lower labor and kitchen
expenses. Staffing needs in the six months ended June 30, 2010 as compared
to the six months ended June 30, 2009 decreased primarily because of a
decline in the number of units occupied by Medicaid residents who tend to
have higher care needs than private pay residents. In addition, general
economic conditions enabled us to hire new employees at lower wage rates.
Kitchen expenses were lower due to new group purchasing plans and lower
overall occupancy. General and administrative expenses increased primarily
from upfront costs associated with transitioning payroll and benefits from
a third party vendor to in-house, expenses associated with an all-company
conference held in the second quarter of 2010, and expenses associated with
the realignment of our divisions.

Liquidity

At June 30, 2010 ALC maintained a strong liquidity position with cash of
approximately $12.2 million and undrawn lines of $70 million.

Share Repurchase Program

On August 9, 2010, ALC’s Board of Directors extended and expanded its share
repurchase program by authorizing the purchase of up to $15 million in
Class A common stock through August 9, 2011. In 2010, through August 9,
2010, ALC repurchased 61,461 shares of Class A Common Stock at a cost of
$1.9 million and an average price of $30.45 per share (excluding fees).

Investor Call

ALC has scheduled a conference call for tomorrow, August 10, 2010 at 10:00
a.m. (ET) to discuss its financial results for the second quarter. This
earnings release will be posted on ALC’s website at www.alcco.com. The
toll-free number for the live call is (800) 230-1096 or international (612)
332-0107; the conference name is “ALC Second Quarter Results.” A taped
rebroadcast of the conference call will be available approximately three
hours following the live call until midnight on September 10, 2010, by
dialing toll free (800) 475-6701, or international (320) 365-3844; the
access code is 165684.

About Us

Assisted Living Concepts, Inc. and its subsidiaries operate 211 senior
living residences comprising 9,280 residents in 20 states. ALC’s senior
living facilities typically consist of 40 to 60 units and offer residents a
supportive, home-like setting and assistance with the activities of daily
living. ALC employs approximately 4,100 people.

Forward-looking Statements

Statements contained in this release other than statements of historical
fact, including statements regarding anticipated financial performance,
business strategy and management’s plans and objectives for future
operations, including management’s expectations about improving occupancy
and private pay mix, are forward-looking statements. Forward-looking
statements generally include words such as “expect,” “point toward,”
“intend,” “will,” “indicate,” “anticipate,” “believe,” “estimate,” “plan,”
“strategy” or “objective.” Forward-looking statements are subject to risks
and uncertainties that could cause actual results to differ materially from
those expressed or implied. In addition to the risks and uncertainties
referred to in the release, other risks and uncertainties are contained in
ALC’s filings with United States Securities and Exchange Commission and
include, but are not limited to, the following: changes in the health care
industry in general and the senior housing industry in particular because
of governmental and economic influences; changes in general economic
conditions, including changes in housing markets, unemployment rates and
the availability of credit at reasonable rates; changes in regulations
governing the industry and ALC’s compliance with such regulations; changes
in government funding levels for health care services; resident care
litigation, including exposure for punitive damage claims and increased
insurance costs, and other claims asserted against ALC; ALC’s ability to
maintain and increase census levels; ALC’s ability to attract and retain
qualified personnel; the availability and terms of capital to fund
acquisitions and ALC’s capital expenditures; changes in competition; and
demographic changes. Given these risks and uncertainties, readers are
cautioned not to place undue reliance on ALC’s forward-looking statements.
All forward-looking statements contained in this report are necessarily
estimates reflecting the best judgment of the party making such statements
based upon current information. ALC assumes no obligation to update any
forward-looking statement.

                   ASSISTED LIVING CONCEPTS, INC.
              Consolidated Statements of Operations
             (In thousands, except earnings per share)

                                Three Months Ended    Six Months Ended
                                     June 30,             June 30,
                               --------------------- ---------------------
                                 2010      2009(1)     2010      2009(1)
                               ---------- ---------- ---------- ----------
Revenues                       $   58,305 $   56,683 $  116,164 $  113,750
Expenses:
  Residence operations
   (exclusive of depreciation
   and amortization and
   residence lease expense
   shown below)                    34,805     35,181     70,517     72,434
  General and administrative        4,256      3,341      8,030      6,775
  Residence lease expense           5,111      4,993     10,194      9,923
  Depreciation and amortization     5,698      5,218     11,368     10,149
    Goodwill impairment                --         --         --     16,315
                               ---------- ---------- ---------- ----------
  Total operating expenses         49,870     48,733    100,109    115,596
                               ---------- ---------- ---------- ----------
Income (loss) from operations       8,435      7,950     16,055     (1,846)
Other expense:
    Other-than-temporary
     investments impairment        (2,026)        --     (2,026)        --
    Interest income                     4          7          8         19
  Interest expense                 (1,899)    (1,834)    (3,787)    (3,537)
                               ---------- ---------- ---------- ----------
Income (loss) from continuing
 operations before income
 taxes                              4,514      6,123     10,250     (5,364)
Income tax expense                 (1,618)    (2,182)    (3,741)    (2,326)
                               ---------- ---------- ---------- ----------
Net income (loss) from
 continuing operations              2,896      3,941      6,509     (7,690)
Loss from discontinued
 operations, net of tax                --        (34)        --       (178)
                               ---------- ---------- ---------- ----------
Net income (loss)              $    2,896 $    3,907 $    6,509 $   (7,868)
                               ========== ========== ========== ==========
Weighted average common shares:
  Basic                            11,567     11,808     11,572     11,882
  Diluted                          11,738     11,927     11,741     11,882
Per share data:
  Basic earnings per common
   share
  Earnings (loss) from
   continuing operations       $     0.25 $     0.33 $     0.56 $    (0.65)
  Loss from discontinued
   operations                          --         --         --      (0.01)
                               ---------- ---------- ---------- ----------
  Net income (loss)            $     0.25 $     0.33 $     0.56 $    (0.66)
                               ========== ========== ========== ==========

    Diluted earnings per
     common share
  Earnings (loss) from
   continuing operations       $     0.25 $     0.33 $     0.55 $    (0.65)
  Loss from discontinued
   operations                          --         --         --      (0.01)
                               ---------- ---------- ---------- ----------
  Net income (loss)            $     0.25 $     0.33 $     0.55 $    (0.66)

Adjusted EBITDA (2)            $   14,503 $   13,291 $   28,100 $   24,840
                               ========== ========== ========== ==========
Adjusted EBITDAR (2)           $   19,614 $   18,284 $   38,294 $   34,763
                               ========== ========== ========== ==========

(1) Reflects the reclassification of the operations of 118 units previously
reported as continuing operations to discontinued operations.
(2) See attached tables for definitions of Adjusted EBITDA and Adjusted
EBITDAR and reconciliations of net income to Adjusted EBITDA and Adjusted
EBITDAR.




                   ASSISTED LIVING CONCEPTS, INC.
                    Consolidated Balance Sheets
           (In thousands, except share and per share data)

                                                  June 30,    December 31,
                                                    2010          2009
                                                ------------  ------------
                 ASSETS                          (unaudited)
Current Assets:
  Cash and cash equivalents                     $     12,239  $      4,360
  Investments                                          3,568         3,427
  Accounts receivable, less allowances of
   $1,096 and $738, respectively                       3,627         2,668
  Prepaid expenses, supplies and other
   receivables                                         4,095         3,537
  Deposits in escrow                                   1,763         1,993
  Income taxes receivable                                 --           723
  Deferred income taxes                                4,590         4,636
  Current assets of discontinued operations              168            36
                                                ------------  ------------
     Total current assets                             30,050        21,380
Property and equipment, net                          411,894       415,454
Intangible assets, net                                11,003        11,812
Restricted cash                                        3,017         4,389
Other assets                                           1,977         1,935
Non-current assets of discontinued operations             --           399
                                                ------------  ------------
    Total Assets                                $    457,941  $    455,369
                                                ============  ============

    LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
  Accounts payable                              $      5,749  $      8,005
  Accrued liabilities                                 16,177        19,228
  Deferred revenue                                     6,008         6,368
  Current maturities of long-term debt                 1,884         1,823
  Income tax payable                                   1,212            --
  Current portion of self-insured liabilities            500           500
  Current liabilities of discontinued
   operations                                             --            34
                                                ------------  ------------
     Total current liabilities                        31,530        35,958
Accrual for self-insured liabilities                   1,416         1,416
Long-term debt                                       118,954       119,914
Deferred income taxes                                 14,281        13,257
Other long-term liabilities                           11,801        11,853
Commitments and contingencies
                                                ------------  ------------
     Total Liabilities                               177,982       182,398
                                                ------------  ------------
Preferred Stock, par value $0.01 per share,
 25,000,000 shares authorized; no shares issued
 and outstanding                                          --            --
Class A Common Stock, $0.01 par value,
 80,000,000 shares authorized at June 30, 2010
 and December 31, 2009; 12,403,499 and
 12,397,525 shares issued and 10,108,938 and
 10,048,674 shares outstanding, respectively             124           124
Class B Common Stock, $0.01 par value,
 15,000,000 shares authorized at June 30, 2010
 and December 31, 2009; 1,523,085 and 1,528,650
 shares issued and outstanding, respectively              15            15
Additional paid-in capital                           314,964       314,602
Accumulated other comprehensive loss                    (775)       (2,012)
Retained earnings                                     39,995        33,486
Treasury stock at cost, 2,384,561 and 2,348,851
 shares, respectively                                (74,364)      (73,244)
                                                ------------  ------------
 Total Stockholders' Equity                          279,959       272,971
                                                ------------  ------------
Total Liabilities and Stockholders' Equity      $    457,941  $    455,369
                                                ============  ============



                  ASSISTED LIVING CONCEPTS, INC.
              Consolidated Statements of Cash Flows
                         (In thousands)
                          (unaudited)

                                                       Six Months Ended
                                                           June 30,
                                                     ---------------------
                                                        2010       2009
                                                     ---------- ----------
OPERATING ACTIVITIES:
Net income (loss)                                    $    6,509 $   (7,868)
Adjustments to reconcile net income (loss) to net
 cash provided by operating activities:
    Depreciation and amortization                        11,368     10,344
    Other-than-temporary investments impairment           2,026         --
    Goodwill impairment                                      --     16,315
    Amortization of purchase accounting adjustments
     for leases                                            (197)      (198)
    Provision for bad debts                                 358        (27)
    Provision for self-insured liabilities                  262        392
    Loss on disposal of fixed assets                        315         34
    Unrealized gain on investments                          (17)        --
    Equity-based compensation expense                       362        188
    Change in fair value of derivatives                      23         --
    Deferred income taxes                                   306       (154)
Changes in assets and liabilities:
    Accounts receivable                                  (1,317)       360
    Supplies, prepaid expenses and other receivables       (558)    (1,027)
    Deposits in escrow                                      230        388
    Current assets - discontinued operations               (132)        --
    Accounts payable                                     (1,432)    (1,735)
    Accrued liabilities                                  (3,051)      (231)
    Deferred revenue                                       (360)       424
    Current liabilities - discontinued operations           (34)        --
    Payments of self-insured liabilities                   (261)      (320)
    Income taxes payable / receivable                     1,935      4,296
    Changes in other non-current assets                   1,330        809
    Other non-current assets - discontinued
     operations                                             399         --
    Other long-term liabilities                             100        553
                                                     ---------- ----------
      Cash provided by operating activities              18,164     22,543
INVESTING ACTIVITIES:
    Payment for executive retirement plan securities       (110)       (95)
    Payments for new construction projects               (3,208)   (11,768)
    Payments for purchases of property and equipment     (4,930)    (6,930)
                                                     ---------- ----------
      Cash used in investing activities                  (8,248)   (18,793)
FINANCING ACTIVITIES:
    Purchase of treasury stock                           (1,120)    (4,860)
    Repayment of revolving credit facility                   --    (19,000)
  Proceeds from issuance of new mortgage debt                --     14,000
  Repayment of mortgage debt                               (917)    (8,114)
                                                     ---------- ----------
      Cash used by financing activities                  (2,037)   (17,974)
                                                     ---------- ----------
Increase (decrease) in cash and cash equivalents          7,879    (14,224)
Cash and cash equivalents, beginning of year              4,360     19,905
                                                     ---------- ----------
Cash and cash equivalents, end of period             $   12,239 $    5,681
                                                     ========== ==========
Supplemental schedule of cash flow information:
Cash paid during the period for:
  Interest                                           $    3,575 $    3,663
  Income tax payments, net of refunds                     1,494     (1,892)



                ASSISTED LIVING CONCEPTS, INC.
              Financial and Operating Statistics

Continuing residences*                           Three months ended
                                           -------------------------------
                                           June 30,   March 31,   June 30,
                                             2010       2010        2009
                                           ---------  ---------  ---------
Average Occupied Units by Payer Source
Private                                        5,476      5,468      5,354
Medicaid                                         162        214        445
                                           ---------  ---------  ---------
Total                                          5,638      5,682      5,799
                                           =========  =========  =========

Occupancy Mix by Payer Source
Private                                         97.1%      96.2%      92.3%
Medicaid                                         2.9%       3.8%       7.7%

Percent of Revenue by Payer Source
Private                                         98.1%      97.5%      95.0%
Medicaid                                         1.9%       2.5%       5.0%

Average Revenue per Occupied Unit Day      $  113.64  $  113.13  $  107.42

Occupancy Percentage*                           62.7%      63.0%      64.2%

* Depending on the timing of new additions and temporary closures of our
residences, we may increase or reduce the number of units we actively
operate. For the three months ended June 30, 2010, March 31, 2010 and June
30, 2009 we actively operated 8,991, 9,025 and 9,154 units, respectively.



Same residence basis**                           Three months ended
                                           -------------------------------
                                           June 30,   March 31,   June 30,
                                             2010       2010        2009
                                           ---------  ---------  ---------
Average Occupied Units by Payer Source
Private                                        5,417      5,423      5,304
Medicaid                                         162        210        387
                                           ---------  ---------  ---------
Total                                          5,579      5,633      5,691
                                           =========  =========  =========

Occupancy Mix by Payer Source
Private                                         97.1%      96.3%      93.2%
Medicaid                                         2.9%       3.7%       6.8%

Percent of Revenue by Payer Source
Private                                         98.1%      97.5%      95.6%
Medicaid                                         1.9%       2.5%       4.4%

Average Revenue per Occupied Unit Day      $  113.49  $  112.92  $  107.28

Occupancy Percentage                            63.4%      64.0%      64.6%

** Excludes quarterly impact of 111 completed expansion units and 76
re-opened renovated units.



                   ASSISTED LIVING CONCEPTS, INC.
                 Financial and Operating Statistics

Continuing residences*                                  Six months ended
                                                      --------------------
                                                       June 30,   June 30,
                                                        2010        2009

Average Occupied Units by Payer Source
Private                                                   5,472      5,369
Medicaid                                                    188        483
                                                      ---------  ---------
Total                                                     5,660      5,852
                                                      =========  =========

Occupancy Mix by Payer Source
Private                                                    96.7%      91.7%
Medicaid                                                    3.3%       8.3%

Percent of Revenue by Payer Source
Private                                                    97.8%      94.4%
Medicaid                                                    2.2%       5.6%

Average Revenue per Occupied Unit Day                 $  113.39  $  107.38

Occupancy Percentage*                                      62.9%      64.9%

* Depending on the timing of new additions and temporary closures of our
residences, we may increase or reduce the number of units we actively
operate. For the six months ended June 30, 2010 and June 30, 2009 we
actively operated 9,004 and 9,014 units, respectively.



Same residence basis**                                  Six months ended
                                                      -------------------
                                                       June 30,   June 30,
                                                        2010        2009

Average Occupied Units by Payer Source
Private                                                   5,392      5,327
Medicaid                                                    186        419
                                                      ---------  ---------
Total                                                     5,578      5,746
                                                      =========  =========

Occupancy Mix by Payer Source
Private                                                    96.7%      92.7%
Medicaid                                                    3.3%       7.3%

Percent of Revenue by Payer Source
Private                                                    97.8%      95.0%
Medicaid                                                    2.2%       5.0%

Average Revenue per Occupied Unit Day                 $  113.08  $  107.73

Occupancy Percentage                                       64.3%      66.3%

** Excludes quarterly impact of 245 completed expansion units, 39 units
temporarily closed for renovation and 76 re-opened renovated units.

Non-GAAP Financial Measures

Adjusted EBITDA and Adjusted EBITDAR

Adjusted EBITDA is defined as net income from continuing operations before
income taxes, interest expense net of interest income, depreciation and
amortization, equity based compensation expense, transaction costs and
non-cash, non-recurring gains and losses, including disposal of assets and
impairment of long-lived assets (including goodwill) and loss on
refinancing and retirement of debt. Adjusted EBITDAR is defined as
Adjusted EBITDA before rent expenses incurred for leased assisted living
properties. Adjusted EBITDA and Adjusted EBITDAR are not measures of
performance under accounting principles generally accepted in the United
States of America, or GAAP. We use Adjusted EBITDA and Adjusted EBITDAR as
key performance indicators and Adjusted EBITDA and Adjusted EBITDAR
expressed as a percentage of total revenues as a measurement of margin.

We understand that EBITDA and EBITDAR, or derivatives thereof, are
customarily used by lenders, financial and credit analysts, and many
investors as a performance measure in evaluating a company’s ability to
service debt and meet other payment obligations or as a common valuation
measurement in the long-term care industry. Moreover, ALC’s revolving
credit facility contains covenants in which a form of EBITDA is used as a
measure of compliance, and we anticipate EBITDA will be used in covenants
in any new financing arrangements that we may establish. We believe
Adjusted EBITDA and Adjusted EBITDAR provide meaningful supplemental
information regarding our core results because these measures exclude the
effects of non-operating factors related to our capital assets, such as the
historical cost of the assets.

We report specific line items separately, and exclude them from Adjusted
EBITDA and Adjusted EBITDAR because such items are transitional in nature
and would otherwise distort historical trends. In addition, we use
Adjusted EBITDA and Adjusted EBITDAR to assess our operating performance
and in making financing decisions. In particular, we use Adjusted EBITDA
and Adjusted EBITDAR in analyzing potential acquisitions and internal
expansion possibilities. Adjusted EBITDAR performance is also used in
determining compensation levels for our senior executives. Adjusted EBITDA
and Adjusted EBITDAR should not be considered in isolation or as a
substitute for net income, cash flows from operating activities, and other
income or cash flow statement data prepared in accordance with GAAP, or as
a measure of profitability or liquidity. We present Adjusted EBITDA and
Adjusted EBITDAR on a consistent basis from period to period, thereby,
allowing for comparability of operating performance.


Adjusted EBITDA and Adjusted EBITDAR Reconciliation Information

The following table sets forth a reconciliation of net income (loss) to
Adjusted EBITDA and Adjusted EBITDAR:

                              Three months ended         Six months ended
                          ----------------------------  ------------------
                          June 30,  June 30,  March 31, June 30,  June 30,
                            2010      2009      2010      2010      2009
                          --------  --------  --------  --------  --------
                                           (in thousands)
Net income (loss)         $  2,896  $  3,907  $  3,613  $  6,509    (7,868)
Less: Income (loss) from
 discontinued operations,
 net of tax                      -       (34)        -         -      (178)
Add: provision for income
 taxes                       1,618     2,182     2,123     3,741     2,326
                          --------  --------  --------  --------  --------

Income (loss) from
 continuing operations
 before income taxes      $  4,514  $  6,123  $  5,736    10,250    (5,364)
Add:
  Depreciation and
   amortization              5,698     5,218     5,670    11,368    10,149
  Interest expense, net      1,895     1,827     1,884     3,779     3,518
  Non-cash equity based
   compensation                225       123       137       362       188
  Loss on disposal of
   fixed assets                145         -       170       315        34
  Write-down of equity
   investments               2,026         -         -     2,026
  Goodwill impairment            -         -         -         -    16,315
                          --------  --------  --------  --------  --------

Adjusted EBITDA             14,503    13,291    13,597    28,100    24,840
Add: Lease expense           5,111     4,993     5,083    10,194     9,923
                          --------  --------  --------  --------  --------
Adjusted EBITDAR          $ 19,614  $ 18,284  $ 18,680  $ 38,294  $ 34,763
                          ========  ========  ========  ========  ========

Adjusted EBITDA             14,503    13,291    13,597    28,100    24,840
Add: Division realignment
 expense                       453         -         -       453         -
                          --------  --------  --------  --------  --------
Adjusted EBITDA before
 division realignment
 expense                    14,956    13,291    13,597    28,553    24,840
Add: Lease expense           5,111     4,993     5,083    10,194     9,923
                          --------  --------  --------  --------  --------
Adjusted EBITDAR before
 division realignment
 expense                  $ 20,067  $ 18,284  $ 18,680  $ 38,747  $ 34,763
                          ========  ========  ========  ========  ========

The following table sets forth the calculations of Adjusted EBITDA,
Adjusted EBITDAR, Adjusted EBITDA before division realignment and Adjusted
EBITDAR before division realignment as percentages of total revenue:

                           Three months ended           Six months ended
                     -------------------------------  --------------------
                     June 30,   June 30,   March 31,  June 30,   June 30,
                      2010(1)     2009       2010      2010(1)     2009
                     ---------  ---------  ---------  ---------  ---------
                                         (in thousands)
Revenues             $  58,305  $  56,683  $  57,859  $ 116,164  $ 113,750
                     =========  =========  =========  =========  =========

Adjusted EBITDA      $  14,503  $  13,291  $  13,597  $  28,100  $  24,840
                     =========  =========  =========  =========  =========

Adjusted EBITDAR     $  19,614  $  18,284  $  18,680  $  38,294  $  34,763
                     =========  =========  =========  =========  =========

Adjusted EBITDA as
 percent of total
 revenues                 24.9%      23.4%      23.5%      24.2%      21.8%
                     =========  =========  =========  =========  =========

Adjusted EBITDAR as
 percent of total
 revenues                 33.6%      32.3%      32.3%      33.0%      30.6%
                     =========  =========  =========  =========  =========


     (1) Includes division realignment expenses of $453 in both the
     quarter and six months ended June 30, 2010. Excluding division
     realignment expenses,  Adjusted EBITDA, Adjusted EBITDAR, Adjusted
     EBITDA as a percent of sales and Adjusted EBITDAR as a percent of
     sales for the quarter ended June 30, 2010 would have been $14,956,
     $20,067, 25.7% and 34.4%, respectively.   Adjusted EBITDA, Adjusted
     EBITDAR, Adjusted EBITDA as a percent of sales and Adjusted EBITDAR as
     a percent of sales for the six months ended June 30, 2010 would have
     been $28,553, $38,747, 24.6% and 33.4%, respectively.




                     ASSISTED LIVING CONCEPTS, INC.
                  Reconciliation of Non-GAAP Measures
                              (unaudited)


                                             Three       Six        Six
                                             Months     Months     Months
                                             Ended      Ended      Ended
                                            June 30,   June 30,   June 30,
                                             2010       2010       2009
                                             (dollars in thousands except
                                                   per share data)
Net income (loss)                          $   2,896  $   6,509  $  (7,868)
Add: Loss from discontinued operations,
 net of tax                                        -          -        178
                                           ---------  ---------  ---------
Income (loss) from continuing operations       2,896      6,509     (7,690)
                                           ---------  ---------  ---------
Add one time charge:
  Write down of equity investments             2,026      2,026          -
  Goodwill impairment                              -          -     16,315
  Loss on disposal of fixed assets related
   to expansion project                          125        125          -
Division realignment expense                     453        453          -
Less: Income tax benefits from one-time
 charges                                         933        933      1,622
                                           ---------  ---------  ---------
  Pro forma net income from continuing
   operations excluding one-time charges   $   4,567  $   8,180  $   7,003
                                           =========  =========  =========

Weighted average common shares:
Basic                                         11,567     11,572     11,882
Diluted                                       11,738     11,741     11,882

Per share data:
  Basic earnings per common share
  Income (loss) from continuing operations $    0.25  $    0.56  $   (0.65)
  Less: loss from discontinued operations          -          -      (0.01)
  Less: loss from one-time charges             (0.14)     (0.14)     (1.24)
                                           ---------  ---------  ---------
  Pro forma net income from continuing
   operations excluding one-time charges   $    0.39  $    0.70  $    0.60
                                           =========  =========  =========

  Diluted earnings per common share*
  Income (loss) from continuing operations $    0.25  $    0.55  $   (0.65)
  Less: loss from discontinued operations          -          -      (0.01)
  Less: loss from one-time charges             (0.14)     (0.14)     (1.24)
                                           ---------  ---------  ---------
  Pro forma net income from continuing
   operations excluding one-time charges   $    0.39  $    0.70  $    0.60
                                           =========  =========  =========

* Per share numbers may not add due to rounding

Filed Under: Healthcare Business, Senior Care

Extendicare REIT Announces 2010 Second Quarter Results

Posted on August 5, 2010 Written by Editor

EXTENDICARE REIT
Condensed Consolidated Earnings

(thousands of Canadian dollars Three months ended Six months ended
except per unit amounts) June 30 June 30
----------------------------------------------------------------------------
2010 2009 2010 2009
----------------------------------------------------------------------------
Revenue
Nursing and assisted living centers
United States 337,596 371,990 673,719 769,099
Canada 122,959 118,860 241,543 233,244
Home health - Canada 38,362 38,819 77,891 74,823
Health technology services
- United States 4,139 4,794 8,285 10,245
Outpatient therapy - United States 3,758 3,505 6,694 7,236
Other 7,557 8,631 15,073 17,593
----------------------------------------------------------------------------
514,371 546,599 1,023,205 1,112,240
Operating expenses 424,567 452,589 853,863 931,659
Administrative costs 17,505 18,917 34,484 38,836
Lease costs 2,612 3,097 5,420 6,191
----------------------------------------------------------------------------
EBITDA (1) 69,687 71,996 129,438 135,554
Depreciation and amortization 15,785 16,350 31,479 33,709
Accretion of asset retirement
obligations 393 416 793 853
Interest expense 22,800 24,479 45,994 50,316
Interest income (2,074) (709) (3,002) (1,851)
Loss (gain) on derivative financial
instruments and foreign exchange 4,505 (12,424) 1,285 (7,474)
Loss from asset impairment,
disposals and other items 2,580 594 2,580 337
----------------------------------------------------------------------------
Earnings from continuing
operations before income taxes 25,698 43,290 50,309 59,664
----------------------------------------------------------------------------
Income tax expense (recovery)
Current 11,244 14,958 22,650 25,911
Future 476 (1,206) (1,475) 397
----------------------------------------------------------------------------
11,720 13,752 21,175 26,308
----------------------------------------------------------------------------
Earnings from continuing
operations 13,978 29,538 29,134 33,356
Discontinued operations (974) 706 (564) 545
----------------------------------------------------------------------------
Net earnings 13,004 30,244 28,570 33,901
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Basic and Diluted Earnings per Unit ($)
Earnings from continuing operations 0.17 0.40 0.36 0.45
Net earnings 0.16 0.41 0.36 0.46
----------------------------------------------------------------------------
(1) Refer to discussion of non-GAAP measures.
----------------------------------------------------------------------------
Certain 2009 figures have been revised for comparative purposes.


EXTENDICARE REIT
Condensed Consolidated Balance Sheets

(thousands of Canadian dollars, unless June 30 December 31
otherwise noted) 2010 2009
----------------------------------------------------------------------------
Assets
Current assets
Cash and short-term investments 252,542 134,012
Restricted cash 19,322 22,361
Accounts receivable, less allowances 211,563 213,477
Income taxes recoverable 8,500 29,314
Future income tax assets 24,338 24,900
Other current assets 25,017 22,187
----------------------------------------------------------------------------
541,282 446,251
Property and equipment, including construction-in
-progress of $50,880 and $41,956, respectively 865,132 863,430
Goodwill and other intangible assets 194,883 191,514
Other assets 152,536 166,870
----------------------------------------------------------------------------
1,753,833 1,668,065
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Liabilities and Equity
Current liabilities
Accounts payable 37,708 38,372
Accrued liabilities 232,674 245,260
Accrual for self-insured liabilities 11,505 11,321
Current portion of long-term debt 99,013 28,538
----------------------------------------------------------------------------
380,900 323,491
Accrual for self-insured liabilities 29,126 32,562
Long-term debt 1,157,975 1,205,494
Other long-term liabilities 68,173 67,555
Future income tax liabilities 75,799 79,866
----------------------------------------------------------------------------
1,711,973 1,708,968
Unitholders' equity (deficiency) 41,860 (40,903)
----------------------------------------------------------------------------
1,753,833 1,668,065
----------------------------------------------------------------------------
----------------------------------------------------------------------------

Closing US/Cdn. dollar exchange rate 1.0646 1.0510
----------------------------------------------------------------------------


EXTENDICARE REIT
Condensed Consolidated Cash Flows

Three months ended Six months ended
(thousands of Canadian dollars) June 30 June 30
----------------------------------------------------------------------------
2010 2009 2010 2009
----------------------------------------------------------------------------
Operating Activities
Net earnings 13,004 30,244 28,570 33,901
Adjustments for:
Depreciation and amortization 15,785 16,782 31,479 34,665
Provision for self-insured
liabilities 3,942 4,988 9,433 10,313
Payments for self-insured
liabilities (8,536) (4,443) (11,659) (7,563)
Future income taxes (999) (1,204) (2,950) 391
Loss (gain) on derivative financial instruments
and foreign exchange 4,505 (12,424) 1,285 (7,474)
Loss from asset impairment,
disposals and other items 2,580 594 2,580 337
Loss (gain) from asset disposals,
impairment and other items from
discontinued operations 2,751 - 2,751 (1,426)
Other 2,596 2,866 5,229 6,205
----------------------------------------------------------------------------
35,628 37,403 66,718 69,349
----------------------------------------------------------------------------
Net change in operating assets and liabilities
Accounts receivable 10,475 9,320 2,148 24,903
Other current assets 513 608 (2,650) (6,002)
Accounts payable and
accrued liabilities (15,394) (4,555) (16,930) (12,064)
Income taxes 11,133 (8,345) 19,633 (4,843)
----------------------------------------------------------------------------
6,727 (2,972) 2,201 1,994
----------------------------------------------------------------------------
42,355 34,431 68,919 71,343
----------------------------------------------------------------------------
Investing Activities
Growth capital expenditures (6,901) (12,518) (18,517) (25,789)
Maintenance capital expenditures (5,173) (7,917) (9,759) (15,241)
Net proceeds from dispositions 5,482 - 5,482 9,995
Other assets (490) 384 (1,185) (1,710)
----------------------------------------------------------------------------
(7,082) (20,051) (23,979) (32,745)
----------------------------------------------------------------------------
Financing Activities
Issue of long-term debt 9,427 6,337 30,138 12,049
Repayment of long-term debt (6,957) (3,895) (20,365) (14,135)
Decrease (increase) in
restricted cash 3,039 (29,482) 3,039 (29,482)
Decrease in investments held
for self-insured liabilities 7,950 6,536 8,278 7,091
Purchase of securities for
cancellation - - - (6,189)
Distributions paid (15,968) (14,584) (31,086) (30,866)
Issue of units - - 82,212 -
Financing costs (476) (2,795) (740) (2,832)
Other (95) (330) (95) (1,860)
----------------------------------------------------------------------------
(3,080) (38,213) 71,381 (66,224)
----------------------------------------------------------------------------
Foreign exchange gain (loss) on cash
held in foreign currency 4,457 (1,704) 2,209 (851)
----------------------------------------------------------------------------
Increase (decrease) in cash
and cash equivalents 36,650 (25,537) 118,530 (28,477)
Cash and cash equivalents at
beginning of period 215,892 120,144 134,012 123,084
----------------------------------------------------------------------------
Cash and cash equivalents at
end of period 252,542 94,607 252,542 94,607
----------------------------------------------------------------------------
----------------------------------------------------------------------------


EXTENDICARE REIT
Financial and Operating Statistics


Three months ended Six months ended
June 30 June 30
----------------------------------------------------------------------------
(amounts in Canadian dollars, unless
otherwise noted) 2010 2009 2010 2009
----------------------------------------------------------------------------

Earnings from Continuing Operations (millions)
United States (US$) $11.8 $20.7 $22.9 $25.8
----------------------------------------------------------------------------
United States $12.1 $24.8 $23.6 $31.1
Canada 1.9 4.7 5.5 2.2
----------------------------------------------------------------------------
$14.0 $29.5 $29.1 $33.3
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Net Earnings (millions)
United States (US$) $10.8 $21.4 $22.3 $26.3
----------------------------------------------------------------------------
United States $11.2 $25.5 $23.1 $31.7
Canada 1.9 4.7 5.5 2.2
----------------------------------------------------------------------------
$13.1 $30.2 $28.6 $33.9
----------------------------------------------------------------------------
----------------------------------------------------------------------------
U.S. Skilled Nursing Center Statistics
Percent of Revenue by Payor Source (same-facility basis, excluding prior
period settlement adjustments)
Medicare (Parts A and B) 33.3% 34.1% 33.1% 34.4%
Managed Care 9.5 9.6 9.5 9.5
----------------------------------------------------------------------------
Skilled mix 42.8 43.7 42.6 43.9
Private/other 9.0 9.4 9.1 9.3
----------------------------------------------------------------------------
Quality mix 51.8 53.1 51.7 53.2
Medicaid 48.2 46.9 48.3 46.8
----------------------------------------------------------------------------
100.0 100.0 100.0 100.0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Average Daily Census by Payor Source (same-facility basis)
Medicare 2,342 2,385 2,334 2,441
Managed Care 802 797 808 802
----------------------------------------------------------------------------
Skilled mix 3,144 3,182 3,142 3,243
Private/other 1,425 1,518 1,427 1,516
----------------------------------------------------------------------------
Quality mix 4,569 4,700 4,569 4,759
Medicaid 9,440 9,490 9,498 9,513
----------------------------------------------------------------------------
14,009 14,190 14,067 14,272
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Average Revenue per Resident Day by Payor Source (excluding prior period
settlement adjustments) (US$)
Medicare Part A only $ 457.74 $ 454.38 $ 457.40 $ 451.03
Medicare (Parts A and B) 499.77 497.31 499.87 492.07
Managed Care 415.60 417.72 412.75 415.12
Private/other 223.73 215.17 224.59 213.52
Medicaid 179.79 172.06 179.60 172.10
Weighted average 252.63 245.14 252.02 244.88
----------------------------------------------------------------------------
Average Occupancy (excluding managed centers) (same-facility basis)
U.S. skilled nursing centers 86.9% 88.3% 87.2% 88.8%
U.S. assisted living centers 78.3 82.6 78.3 82.6
Canadian centers 98.3 97.9 98.1 97.8
----------------------------------------------------------------------------
Average US/Cdn. dollar exchange rate 1.0277 1.1672 1.0338 1.2062
----------------------------------------------------------------------------


EXTENDICARE REIT
Supplemental Information - FFO and AFFO

The following table provides a reconciliation of EBITDA to Funds from
Operations (FFO), Distributable Income (DI) and Adjusted Funds from
Operations (AFFO) for the periods ended June 30, 2010 and 2009.(1)

Three months ended Six months ended
June 30 June 30
----------------------------------------------------------------------------
(thousands of Canadian dollars
unless otherwise noted) 2010 2009 2010 2009
----------------------------------------------------------------------------
EBITDA from continuing
operations 69,687 71,996 129,438 135,554
Depreciation for furniture, fixtures,
equipment and computers (5,580) (5,983) (11,033) (12,049)
Interest expense, net (20,726) (23,770) (42,992) (48,465)
----------------------------------------------------------------------------
43,381 42,243 75,413 75,040
Current income tax expense (2) (11,244) (15,448) (22,650) (26,911)
----------------------------------------------------------------------------
FFO (continuing operations) 32,137 26,795 52,763 48,129
Amortization of financing costs 2,184 2,841 4,353 5,365
Principal portion of government
capital funding payments 615 574 1,226 1,150
----------------------------------------------------------------------------
DI (continuing operations) 34,936 30,210 58,342 54,644
Additional maintenance capital
expenditures (3) 407 (1,934) 1,274 (3,192)
----------------------------------------------------------------------------
AFFO (continuing operations) 35,343 28,276 59,616 51,452
AFFO (discontinued operations)(4) 302 1,161 731 2,362
----------------------------------------------------------------------------
AFFO 35,645 29,437 60,347 53,814
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Per Basic Unit ($)
FFO (continuing operations) 0.393 0.367 0.658 0.660
AFFO (continuing operations) 0.431 0.388 0.743 0.706
AFFO 0.435 0.404 0.752 0.738
----------------------------------------------------------------------------
Per Diluted Unit ($)
FFO (continuing operations) 0.365 0.340 0.620 0.618
AFFO (continuing operations) 0.390 0.349 0.676 0.639
AFFO 0.393 0.362 0.684 0.666
----------------------------------------------------------------------------
Distributions declared 17,346 15,317 34,019 30,602
Distributions declared per unit ($) 0.2100 0.2100 0.4200 0.4200
----------------------------------------------------------------------------
Basic weighted average number of
units (thousands) 82,576 72,914 80,221 72,913
Diluted weighted average number
of units (thousands) 96,389 86,727 94,034 86,733
----------------------------------------------------------------------------

1. "EBITDA", "funds from operations", "distributable income" and "adjusted
funds from operations" are not recognized measures under GAAP and do not
have a standardized meaning prescribed by GAAP. Refer to the discussion
of non-GAAP measures.
2. Excludes current tax with respect to the loss (gain) from derivative
financial instruments, foreign exchange, asset impairment, disposals and
other items that are excluded from the computation of AFFO.
3. Represents total facility maintenance capital expenditures less
depreciation for furniture, fixtures, equipment and computers already
deducted in determining DI.
4. The impact of discontinued operations reduces FFO, DI and AFFO by the
same amount.
----------------------------------------------------------------------------

Reconciliation of Cash Provided by Three months ended Six months ended
Operating Activities to DI & AFFO June 30 June 30
----------------------------------------------------------------------------
(thousands of Canadian dollars) 2010 2009 2010 2009
----------------------------------------------------------------------------
Cash provided by operating
activities 42,355 34,431 68,919 71,343
Add (Deduct):
Net change in operating assets
and liabilities (6,727) 2,972 (2,201) (1,994)
Current tax expense on gain or loss
from derivative financial instruments,
foreign exchange, asset impairment,
disposals and other items (12) (490) (12) 1,250
Net provisions and payments for
self-insured liabilities 4,594 (545) 2,226 (2,750)
Depreciation for furniture, fixtures,
equipment and computers (5,580) (5,983) (11,033) (12,049)
Principal portion of government
capital funding payments 615 574 1,226 1,150
Other (7) 412 (52) 56
----------------------------------------------------------------------------
DI 35,238 31,371 59,073 57,006
Additional maintenance capital
expenditures 407 (1,934) 1,274 (3,192)
----------------------------------------------------------------------------
AFFO 35,645 29,437 60,347 53,814
----------------------------------------------------------------------------
----------------------------------------------------------------------------

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Filed Under: Healthcare Business, Senior Care

Metiscan’s Outpatient Diagnostic Imaging Facility Upgrades to Web 2.0 EHR System

Posted on August 5, 2010 Written by Editor

SOURCE: Metiscan, Inc.

Eliminates License Fee Per-Study

DALLAS, TX–(Marketwire – August 5, 2010) – Metiscan’s (PINKSHEETS: MTIZ) majority owned subsidiary Schuylkill Open MRI, Inc. (Schuylkill), which is an outpatient diagnostic imaging facility located in Pottsville, Pennsylvania providing Magnetic Resonance Imaging (MRI) services, announced today that it has upgraded its legacy electronic healthcare records (EHR) system to a new Web 2.0 based Health Language Seven (HL7) compliant EHR and practice management system.

The new EHR system enhances practice workflow, improving operational efficiencies which management believes will increase cost savings and aid the center’s staff in providing high quality patient care. The EHR system enables Schuylkill to operate as a virtually paper free and filmless practice and includes features such as patient scheduling, practice management and the electronic archiving and distribution of high-quality MRI images and patient reports. Secure access is available to radiologists and referring physicians from any location having a web-browser and a broadband connection.

Schuylkill historically licensed the use of its former EHR system. Since 2003, Schuylkill has paid a licensing fee on a per-study basis. Going forward Schuylkill has determined to purchase its own EHR system and retain FirstView EHR, Inc. (FirstView), which is also a majority owned subsidiary of Metiscan, to host and administer the system. Purchasing the new EHR system provides Schuylkill with a productivity tool that embraces today’s latest secure web technologies and eliminates the need to pay a third party a license fee on a per-study basis.

About Schuylkill Open MRI, Inc.
Schuykill Open MRI, Inc. (Schuylkill) is an outpatient diagnostic facility located in Pottsville, Pennsylvania providing Magnetic Resonance Imaging (MRI) services. Schuylkill began operations in March 2003 and currently performs MRI exams on a Siemens OPEN MRI platform and a Siemens 1.5T high-field MRI platform. Having both platforms provides Schuylkill flexibility in the studies it can conduct. Schuylkill participates in most major insurance plans and accepts Medicare, Medicaid, Worker’s Compensation claims, Personal Injury Protection (PIP) and Letters of Protection (LOPs). Schuylkill is accredited by the American College of Radiology (ACR) and is a majority owned subsidiary of Metiscan, Inc. 

Safe Harbor Statement: Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause Metiscan’s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Investor Relations:
Big Apple Consulting
(407) 389-5900

Click here to see all recent news from this company

Filed Under: Health Technology and AI, Senior Care

Interim HealthCare Announces Franchise Expansion Plans in Philadelphia

Posted on August 4, 2010 Written by Editor

SOURCE: Interim HealthCare

Healthcare Franchise Leader Hosts Business Opportunities Seminar on August 17

SUNRISE, FL–(Marketwire – August 4, 2010) –  Interim HealthCare® Inc., the nation’s first and finest healthcare and in-home senior care franchise company, is offering Philadelphia residents the opportunity to own their own business with an Interim HealthCare franchise. With a network of more than 300 independently owned franchises across the country, Interim is now seeking franchisee candidates in Philadelphia to be part of an aggressive growth campaign designed to increase its U.S. presence over time. 

Interim’s senior care franchises include non-medical and medical personal care, nursing and healthcare staffing services. The system has a 40 year history within the healthcare industry and many of their franchisees have an average tenure of 24 years.

Executives from Interim will be in town to host a franchise opportunities seminar on August 17 at 7:00 p.m. at the Crowne Plaza – Valley Forge located on 260 Mall Boulevard for all interested candidates. To register for the event and learn more, please log onto www.interimfranchising.com or call 866-767-4730.

“Interim HealthCare has been assisting patients and their families since 1966 and we are excited to expand our footprint in Philadelphia,” said Kathleen Gilmartin, CEO of Interim Healthcare. “We’re looking for interested individuals to join our team who have the sensitivity and compassion needed in our business to help our customers when it matters most.”

Currently with more than15 locations in Pennsylvania, Interim is looking to expand its presence throughout the state by indentifying eight new openings in Philadelphia over four years. Qualified candidates should possess a minimum net worth of $400,000, and a minimum liquidity of $50,000. Franchisees can expect their initial investment to range from approximately $115,500 to $188,500 including the franchise fee.

“Today there are 1 in 8 people 65 or older and by 2030 there will be more than twice that number,” said Gilmartin. “Therefore the growing senior population and home care growth market is a great niche for franchising and with additional Interim HealthCare franchises in the Philadelphia area, we will help the increasing need,” said Gilmartin.

Franchisees utilize comprehensive operations, financial, training, and sales systems to assist in operating their business at maximum efficiency and effectiveness. Additionally, they receive extensive local and national marketing support throughout the year. Interim HealthCare franchise owners share a commitment to improving the lives of their patients and communities, and they continue to realize opportunities for growth in the growing baby boomer segment and home care industry.

About Interim HealthCare:
Founded in 1966, Interim HealthCare® is the nation’s oldest proprietary national health care franchise organization providing health care personnel at all skill levels in all settings. Through a comprehensive network of more than 300 independently owned franchise offices, Interim HealthCare® franchisees are the largest combined provider of community-based home care (skilled and non-medical) and health care staffing. Interim HealthCare is unique in combining the commitment of local ownership with the support of a national organization that develops innovative programs and quality standards that improve the delivery of service through franchisees who employ more than 75,000 health care workers who serve 50,000 people each day. For more information or to locate an Interim HealthCare office, visit www.interimhealthcare.com.

Contact:
Stephanie Goldman
Fish Consulting
954.893.9150
[email protected]

Click here to see all recent news from this company

Filed Under: Senior Care

AdCare Closes Exercise of Over-Allotment Option

Posted on August 4, 2010 Written by Editor

SOURCE: AdCare

SPRINGFIELD, OH–(Marketwire – August 4, 2010) –  AdCare Health Systems, Inc. (NYSE Amex: ADK), an Ohio-based long-term care, home care and management company, has closed the sale of an additional 225,400 shares of common stock at the offering price of $3.50 per share for gross proceeds of $788,900, pursuant to the over-allotment option exercised by the underwriter in connection with AdCare’s offering that closed on June 30, 2010.

The full exercise of the over-allotment option brings the total number of common shares sold by AdCare in the offering to 1,939,686 and gross proceeds to approximately $6.8 million. The aggregate net proceeds to the company from the offering totaled approximately $6.1 million, after deducting underwriting discounts, commissions, legal fees and other offering-related expenses payable by the Company. AdCare plans to use the net proceeds of the offering for acquisition purposes, working capital and general corporate purposes. As of the close of the exercise of the over-allotment, the Company has approximately 7.5 million common shares outstanding.

C. K. Cooper & Company was the sole manager for the public offering.

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities. Any such offer may be made only pursuant to the company’s prospectus supplement and accompanying base prospectus for the offering and only in states in which the offering is registered or exempt from registration and by broker-dealers authorized to do so. The securities offered by the prospectus involve a high degree of risk. Copies of the prospectus supplement and accompanying base prospectus may be obtained from the SEC’s website at www.sec.gov or from C. K. Cooper & Company, 18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue Lapham/Syndicate Department, or [email protected], or via fax +1-949-477-9211.

About AdCare Health Systems
AdCare Health Systems, Inc. (NYSE Amex: ADK) develops, owns and manages assisted living facilities, nursing homes and retirement communities and provides home healthcare services. Prior to becoming a publicly traded company in November of 2006, AdCare operated as a private company for 18 years. AdCare’s 900 employees provide high-quality care, management services and other services for patients and residents residing in 19 facilities, seven of which are assisted living facilities, 11 skilled nursing centers and one independent senior living community. The company owns eight of those facilities. In the ever-expanding marketplace of long-term care, AdCare’s mission is to provide quality healthcare services to the elderly. For more information about AdCare, visit www.adcarehealth.com.

Click here to see all recent news from this company

Filed Under: Senior Care

Casting Call: All Breast Cancer Survivors and Caregivers Who Want to Be Part of the Next Pink Glove Dance Video

Posted on August 3, 2010 Written by Editor

SOURCE: Medline Industries, Inc.

Video Shoot Takes Place Sunday, August 22, 9:00 a.m., Northerly Island

MUNDELEIN, IL–(Marketwire – August 3, 2010) – Medline Industries, Inc., the company that produced the original Pink Glove Dance, is looking for breast cancer survivors and caregivers in the Chicago area who want to be part of the next Pink Glove Dance video. The original video has become an internet sensation, generating more than 11 million views on YouTube since its release last November. The video features healthcare workers at Providence St. Vincent Medical Center in Portland, Ore. dancing while wearing pink gloves. Medline, based in Mundelein, Ill., is the largest privately held manufacturer and distributor of healthcare supplies in the country.

When and where will it be?
Filming will take place Sunday, August 22 at 9:00 a.m. at Northerly Island (formerly Meigs Field), just south of Adler Planetarium and east of Soldier Field.

What are the qualifications to participate?
Participants need to be breast cancer survivors or healthcare workers and willing to dance wearing pink gloves. No special dancing skills required. A choreographer will be there to teach simple routines.

How long will it take?
Approximately two hours.

How do I sign up?
Details of the video shoot and registration can be found online at www.pinkglovedance.com.
Although participants can just show up on the day of the event, participants are encouraged to register online. 

Why is this video being made?
The first video was created to help spread the word about breast cancer awareness and the importance of the healthcare worker who takes care of breast cancer patients. It was so successful and generated so much positive attention that hospitals around the country inquired about participating in the next video. So the idea of a sequel was developed that not only included hospital workers but breast cancer survivors too. 

Why pink exam gloves?
As a way to extend Medline’s breast cancer awareness campaign, the company developed a pink glove called Generation Pink™. Gloves are also the first point of contact between the healthcare worker and the patient. And, the fact the glove is pink, Medline hoped would get people talking about breast cancer. When the gloves were launched in October, Medline committed to donating $1 of every case purchased to the National Breast Cancer Foundation to fund mammograms for individuals who cannot afford them. In the past five years, Medline has donated almost $500,000 to the National Breast Cancer Foundation. 

Media Contact:

John Marks
(847) 643-3309

Jerreau Beaudoin
(847) 643-3011

Filed Under: Public Health and Research, Senior Care

AdCare Health Systems Closes Lease of Five Nursing Homes in Georgia, More Than Doubles Annualized Revenue

Posted on August 2, 2010 Written by Editor

SOURCE: AdCare

Also Signs Agreement to Acquire Additional Five Nursing Homes Leases, With Additional Annualized Revenue of Approximately $37 Million

SPRINGFIELD, OH–(Marketwire – August 2, 2010) –  AdCare Health Systems, Inc. (NYSE Amex: ADK), an Ohio-based long-term care, home care and management company, has closed on a previously announced agreement to lease five privately held nursing homes in South Georgia that is expected to more than double its revenue.

The five facilities have been leased under a five-year term from the owner, with an extension option for an additional five years. The facilities have on aggregate 615 beds that generate approximately $35 million in annualized revenue.

AdCare’s upfront cost for the transaction was $700,000 in cash, plus legal and accounting closing costs. At closing, the company assumed approximately $1.3 million in negative working capital and purchased for $2 million approximately $5.5 million in existing receivables due to these facilities. In addition, AdCare provided the lessor $1.16 million, comprised of the first month’s lease payment and a security deposit that includes an amount equal to two months lease payment.

With the close of this transaction, AdCare estimates its revenue run-rate will exceed $61 million annually, representing an increase of more than 120% over the company’s 2009 revenues.

“This lease is the first major transaction we closed since we began our acquisition campaign at the end of last year,” said Chris Brogdon, AdCare’s vice chairman and chief acquisitions officer. “We expect these facilities to be very profitable for AdCare, especially as they come under our more capable management and benefit from the economies of scale we bring to the table.”

AdCare also reported it signed an agreement to lease an additional five nursing homes in Georgia that produce annualized revenues of approximately $37 million, which it plans to close on September 30, 2010.

“We are also now moving quickly toward closing the other two acquisitions we announced in the first half of 2010,” noted Brogdon. “As we have outlined in our M&A strategy, we are also continuing to evaluate foreclosures and other poorly run facilities that we can secure at below-market prices, as well as target acquisitions of both profitable and turnaround properties to grow our business.”

Brogdon joined AdCare last September when the company announced a new M&A growth strategy to build upon its strong reputation for operational efficiency and high-quality living environments.

About AdCare Health Systems
AdCare Health Systems, Inc. (NYSE Amex: ADK) develops, owns and manages assisted living facilities, nursing homes and retirement communities and provides home healthcare services. Prior to becoming a publicly traded company in November of 2006, AdCare operated as a private company for 18 years. AdCare’s 900 employees provide high-quality care, management services and other services for patients and residents residing in 19 facilities, seven of which are assisted living facilities, 11 skilled nursing centers and one independent senior living community. The company owns eight of those facilities. In the ever-expanding marketplace of long-term care, AdCare’s mission is to provide quality healthcare services to the elderly. For more information about AdCare, visit www.adcarehealth.com.

Safe Harbor Statement
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law, which can be identified by the use of forward-looking terminology, such as “believes,” “expects,” “plans,” “anticipates” or similar expressions. Statements in this announcement that are forward-looking include, but are not limited to, statements that with the closing of this transaction, AdCare estimates its revenue run-rate will exceed $61 million annually, representing an increase of more than 120% over the company’s 2009 revenues; that the leased facilities mentioned in this release will be very profitable for AdCare; that it plans to close the newly announced additional five leases on September 30, 2010; and that the company is moving quickly toward closing the other two acquisitions it announced in the first half of 2010. Such forward-looking statements reflect management’s beliefs and assumptions, and are based on information currently available to management. The forward-looking statements involve known and unknown risks that may make the results, performance or achievements of the company differ materially from those expressed or implied in such statements. Such factors are also identified in the public filings made by the company with the U.S. Securities and Exchange Commission, and they include, but are not limited to, the company’s ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the industry, changes in reimbursement levels including those under the Medicare and Medicaid programs, and changes in the competitive marketplace. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.

Company Contact
Chris Brogdon
Vice Chairman & CAO
AdCare Health Systems, Inc.
Tel (937) 964-8974
Email: Email Contact

Investor Relations
Scott Liolios or Ron Both
Liolios Group, Inc.
Tel (949) 574-3860
Email: Email Contact

Filed Under: Hospitals and Health Systems, Senior Care

Joint Commission Urges Americans to ‘Speak Up’ to Prevent Falls

Posted on July 30, 2010 Written by Editor

SOURCE: Joint Commission

Tips for Hospital Patients, Nursing Home Residents and Patients at Home

OAKBROOK TERRACE, IL–(Marketwire – July 30, 2010) –  Each year, millions of people — from elderly nursing home residents to hospitalized children to women who have just given birth — are injured by falls in health care facilities and homes. The Joint Commission today launched a national campaign to help Americans reduce the risk of falling.

The new education campaign, which is part of The Joint Commission’s award-winning Speak Up™ program, recognizes that falls are a serious problem. Statistics from the Centers for Disease Control and Prevention (CDC) show that falls are the second leading cause of injury-related deaths for people ages 65 and older, and are the most common cause of injuries and hospital admissions among the elderly. (Source: CDC, NCHS. Mortality Data Tapes. Hyattsville, MD: the Center, 1998.) Reducing injuries, disabilities and deaths from falls has even been included as part of the Healthy People 2010 program. The national Healthy People 2010 objectives from the U.S. Department of Health and Human Services identify the most significant preventable threats to health and establish national goals to reduce these threats.

“Falls can cause serious to life-threatening injuries; however, there are steps people can take at home or in a health care facility to reduce their risk of falling. We want people to be aware of these simple yet important precautions and avoid preventable injuries,” says Mark R. Chassin, M.D., M.P.P., M.P.H., president, The Joint Commission.

The new Speak Up™ campaign offers tips and actions that will help people reduce the risk of falling, whether at home or in a medical facility. Among the topics are:

  • Taking care of your health — this includes exercise to improve strength and balance, staying hydrated, having an eye exam regularly and talking to your doctor about any side effects from medications that might cause drowsiness or confusion.
  • Taking extra precautions — simple actions such as turning on the lights when entering a room, keeping walkways clear, using handrails on stairs, and wearing proper shoes can make a difference.
  • Making small changes to your home — using motion sensors or timers for lights, placing nightlights in bedrooms and bathrooms, removing throw rugs, and applying non-slip decals on stairs and in bathtubs to reduce the risk of falls. Home care agencies, personal care and support agencies, or community programs may be available to help you accomplish these tasks if you are older or disabled.
  • Taking extra precautions in the hospital or nursing home, for example, people in health care facilities should use the call button to ask for help to get out of bed or go to the bathroom, wear non-slip socks, lower the height of the bed and bed rails, and tell the nurse or doctor if medicine is making you feel dizzy or sick.

The framework of the Speak Up™ program urges patients to:

  • Speak up if you have questions or concerns, and if you don’t understand, ask again. It’s your body and you have a right to know.
  • Pay attention to the care you are receiving. Make sure you’re getting the right treatments by the right health care professionals. Don’t assume anything.
  • Educate yourself about your diagnosis, the medical tests you are undergoing, and your treatment plan.
  • Ask a trusted family member or friend to be your advocate.
  • Know what medications you take and why you take them. Medication errors are the most common health care errors.
  • Use a hospital, clinic, surgery center, or other type of health care organization that has undergone a rigorous on-site evaluation against established state-of-the-art quality and safety standards, such as that provided by The Joint Commission.
  • Participate in all decisions about your treatment. You are the center of the health care team.

Speak Up™ brochures also are available on preventing errors in medical care for children, finding pain relief, understanding caregivers, understanding medical tests, recovering after leaving the hospital, preventing medication mistakes, preventing infections, preparing to become a living organ donor, avoiding wrong site surgery and preventing errors in care. Brochures can be found at http://www.jointcommission.org/PatientSafety/SpeakUp/. All of the Speak Up™ brochures are available in an easy-to-read format and in Spanish.

Founded in 1951, The Joint Commission seeks to continuously improve health care for the public, in collaboration with other stakeholders, by evaluating health care organizations and inspiring them to excel in providing safe and effective care of the highest quality and value. The Joint Commission evaluates and accredits more than 17,000 health care organizations and programs in the United States, including more than 9,500 hospitals and home care organizations, and more than 6,300 other health care organizations that provide long term care, behavioral health care, laboratory and ambulatory care services. In addition, The Joint Commission also provides certification of more than 1,000 disease-specific care programs, primary stroke centers, and health care staffing services. An independent, not-for-profit organization, The Joint Commission is the nation’s oldest and largest standards-setting and accrediting body in health care. Learn more about The Joint Commission at www.jointcommission.org.

To view this release in a media-rich format, go to: http://www.pwrnewmedia.com/2010/jointcommission_00728_Fall_Prevention/index.html

Media Contact:
Elizabeth Eaken Zhani
Media Relations Manager
630.792.5914
Email Contact

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Filed Under: Hospitals and Health Systems, Senior Care

Twenty-Seven Extendicare Health Centers Earn National Recognition for Continuous Quality Improvement

Posted on July 26, 2010 Written by Editor

MILWAUKEE, WISCONSIN–(Marketwire – July 26, 2010) – Extendicare Health Services, Inc. announced today that 27 of its health centers are the proud recipients of the American Health Care Association and the National Center for Assisted Living’s (AHCA/NCAL) Bronze – Commitment to Quality, National Quality Award in recognition of their strong commitment to continuous quality improvement.

The health centers receiving the award are:

“The AHCA/NCAL Quality Awards – comprised of three levels, Bronze – Commitment to Quality award; a more rigorous Silver – Achievement in Quality award; and a comprehensive Gold – Excellence in Quality award – are the most prestigious recognition of quality within the long term care profession,” stated AHCA/NCAL President and CEO, Bruce Yarwood. This Bronze – Commitment to Quality award recognizes dedicated frontline caregivers, administrators, nurses and physicians, who demonstrate their commitment to quality of care in order to meet the needs for our nation’s most vulnerable population.

As a Bronze award recipient, these health centers demonstrated their organization-wide commitment to a customer-focused facility mission, defined its principal customers and their expectations, and indicated ways that they are striving to meet their needs.

“The Quality Award program is an independently judged, criteria-based, award program. This year, only 456 long term care centers nationwide received this noteworthy award and we are pleased to be counted among them. We are proud of this accomplishment and thank our team members for their strong commitment to excellence,” said Tim Lukenda, Chairman and CEO of Extendicare Health Services, Inc.

AHCA/NCAL’s Quality Award is modeled after the criteria of the Malcolm Baldrige National Quality Award, the nation’s premier award recognizing distinguished achievements. AHCA/NCAL’s award is designed to support both continuous quality improvement efforts in long term care by promoting quality awareness and education and to recognize quality achievements.

About Extendicare

Extendicare Health Services, Inc. located in Milwaukee, Wisconsin is a wholly owned subsidiary of Extendicare Real Estate Investment Trust, or Extendicare REIT (TSX symbol “EXE.UN”). Extendicare REIT is a leading North American provider of long-term and short-term senior care services through its network of owned and operated health care centers. We employ 37,700 qualified and experienced individuals dedicated to helping people live better through a commitment to quality service that includes post-acute care, rehabilitative therapies and home health care services. Our 258 senior care centers in North America have capacity for approximately 28,900 residents. 

Filed Under: Healthcare Business, Senior Care

Center for Technology and Aging Participates in National Effort to Reduce Readmissions by Improving Care Transitions

Posted on July 26, 2010 Written by Editor

SOURCE: Center for Technology and Aging

OAKLAND, CA–(Marketwire – July 26, 2010) –  The Center for Technology and Aging (CTA), is collaborating with the Administration on Aging (AoA) and the Centers for Medicare & Medicaid Services (CMS) on funding innovative care transition projects for older adults and persons with disabilities through the national system of Aging and Disability Resource Centers (ADRC).

CTA’s “Technologies for Improving Post-Acute Care Transitions,” (Tech4Impact) grants are designed to encourage ADRC programs (www.aoa.gov/AoARoot/Grants/Funding/index.aspx) to expand use of technologies that promote better patient transitions from hospitals, rehabilitation centers or nursing facilities back to homes or other community settings.

According to The New England Journal of Medicine, avoidable hospital readmissions within 30 days of discharge cost Medicare $17.4 billion annually.

“We are privileged to be a partner in this national effort to improve care transitions,” said David Lindeman, director of the Center for Technology and Aging. “Improving care transitions and lowering hospital readmissions is a national priority. Use of selected technologies, such as remote patient monitoring and medication management technologies, is associated with reduced hospitalizations, so it makes sense to focus on expanding their use.”

Tech4Impact grants will complement grantee funding made available through the $60 million AoA and CMS initiative, “Implementing the Affordable Care Act: Making it Easier for Individuals to Navigate their Health and Long-Term Care through Person-Centered Systems of Information, Counseling and Access.” Complete details are available at: www.aoa.gov/AoARoot/Grants/Funding/index.aspx.

CTA will make Tech4Impact funds available to states that are awarded grants by AoA/CMS for program Option D: ADRCs Evidence-Based Care Transition Programs. (AoA/CMS grant applications are submitted electronically at www.grants.gov.) The CTA application for states will be released by September 30, 2010, and full proposals will be due October 15, 2010. Grants are expected to commence by January 2011. Additional guidelines pertaining to the Tech4Impact grants are available at www.techandaging.org 

ADRCs (www.adrc-tae.org) are community-based programs designed to streamline access to long-term care services under the auspice of the Administration on Aging, an arm of the U.S. Department of Health and Human Services.

In addition to the Tech4Impact grants, CTA administers grant-funding programs for projects that seek to expand the use of medication optimization and remote patient monitoring technologies for the care of older Americans.

The Center for Technology and Aging (www.techandaging.org) supports the rapid adoption and diffusion of technologies that enhance independence and improve home and community-based care for older adults. Through grants, research, public policy involvement and development of practical tools and best practice guidelines, the Center serves as an independent, non-profit resource for improving the quality and cost-effectiveness of long-term care services. The Center was established with funding from The SCAN Foundation (www.thescanfoundation.org) and is affiliated with the Public Health Institute (www.phi.org) in Oakland, CA.

Additional information:
Lynn Redington
510-285-5685
Email Contact

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Filed Under: Medicare, Senior Care

Assisted Living Concepts, Inc. Schedules Second Quarter Financial Results Conference Call

Posted on July 23, 2010 Written by Editor

SOURCE: Assisted Living Concepts, Inc.

MENOMONEE FALLS, WI–(Marketwire – July 23, 2010) –  Assisted Living Concepts, Inc. (NYSE: ALC) announced that it plans to release its 2010 second quarter financial results after the New York Stock Exchange closes on Monday August 9, 2010. The release will be posted on ALC’s website at www.alcco.com. ALC has scheduled a conference call on Tuesday August 10, 2010 at 10:00 a.m. (ET) to discuss its financial results for the second quarter. The toll-free number for the live call is (800) 230-1096 or international (612) 332-0107. A taped rebroadcast of the conference call will be available approximately three hours following the live call until midnight on September 10, 2010, by dialing toll free (800) 475-6701 or international (320) 365-3844 and using access code 165684.

About Us

Assisted Living Concepts, Inc. and its subsidiaries operate 211 senior living residences with capacity for approximately 9,400 residents in 20 states in the United States. ALC’s residences typically consist of 35 to 60 units and offer residents a supportive, home-like setting and assistance with activities of daily living. ALC employs approximately 4,100 people.

Filed Under: Senior Care

The Residence on Greenbelt Celebrates Its Grand Opening

Posted on July 23, 2010 Written by Editor

SOURCE: The Residence on Greenbelt

Come Experience the New Standard in Modern Assisted Living July 27 and 28, 2010

LANHAM, MD–(Marketwire – July 23, 2010) –  The Residence at Greenbelt, offering the new standard in modern assisted living, announced today that it will celebrate its grand opening on Tuesday, July 27th and Wednesday, July 28th, 2010 from 4pm-7pm. During this monumental two-day event, guests can experience a VIP tour of The Residence on Greenbelt, its new modern models and see first-hand the dignity and vitality of assisted living in a unique community geared towards residents, their families and friends. 

A special tree-planting dedication ceremony will take place on the second day, Wednesday, July 28th. Samuel H. Dean, Councilman for Ward 6 in Prince George’s County, will lead the dedication of a Southern Magnolia tree that was graciously donated by Behnke Nurseries. Additionally, summer fare and jazz entertainment will be provided both days.

At The Residence on Greenbelt, the warmth and comfort of home and modern convenience come together to define modern assisted living. This unique community offers charm, extensive care and superior care, while allowing residents to experience its modern set of amenities including a Skype lounge and stately movie theatre equipped for the hearing impaired. Conveniently located on Greenbelt Road, The Residence on Greenbelt has recently undergone a complete renovation that has created a vibrant and interesting senior living residence, where residents can experience unrivaled service in modern and fun surroundings.

Three different service programs exist at The Residence on Greenbelt, providing the right match for the needs of seniors. In addition to Assisted Living, the community offers a Special Needs living area that provides for residents with higher acuity and mobility needs in an environment with features focused on maximizing independence while offering comfort and service. The Residence on Greenbelt also provides the Pathways Memory Care Program, an exceptional option for seniors with memory impairments as it offers a stimulating and engaging environment for residents and peace of mind for their families and friends.

For more information about The Residence on Greenbelt, or to attend the Grand Opening event, please call (866) 712-1172 or visit TheResidenceonGreenbelt.com.

About IntegraCare
IntegraCare’s mission is to “improve the quality of life for its employees, residents, and their families.” The company’s goal is to create an environment where its primary customer, the employee, experiences respect, dignity, and personal development. By providing this environment for its employees, the second half of our mission, “improve the quality life for our residents and their families,” will be achieved.

Media Contact:
Annette J. Picon
Delucchi+
Phone: 202.248.5852
E-mail: [email protected]

Filed Under: Senior Care

Willing Holding Acquires Accessible Home Health Care

Posted on July 22, 2010 Written by Editor

SOURCE: Willing Holding, Inc.

CORAL SPRINGS, FL–(Marketwire – July 22, 2010) –  Willing Holding, Inc. (OTCBB: WHDX) announces that it has completed the acquisition of Accessible Home Health Care.

On July 16, 2010, Willing Holding, Inc. completed the acquisition of the assets of Accessible Home Health Care (www.accessiblehhc.com) from Valiant Healthcare, Inc., a Delaware corporation, through the execution and closing of an Asset Purchase Agreement. Under the reverse merger Valiant (www.valianthealthcare.com) has assumed majority (90%) interest in Willing Holding.

Accessible’s and Valiant’s entire experienced management team has been retained and they continue to run the day to day business of the company.

Accessible’s business model is designed to lead and direct the 21st Century demands of the long term home health care industry by offering a “Complete Home Healthcare Package™” and being a “One Stop Provider™.” Accessible’s primary mission is to provide the highest quality home health care services and products to its patients while adding value to the payers by reducing direct costs and the potential for fraud.

Accessible’s next phase of growth is to expand its company owned units by acquisition of Medicare certified home health care providers in strategic geographic markets.

About Willing Holding, Inc.
Through our Accessible Home Health Care division, we offer and sell a proven one of its kind franchise opportunity to establish and operate a full service medical and personal care Accessible Home Health Care franchise, under our distinctive brand and system. As of July 22, 2010 there are 96 Accessible Home Health Care franchise units and one company-owned unit in 24 states, as well as in India and Kenya.

Forward-Looking Statements
This release is not an offer to purchase or sell securities and may contain statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on current estimates and projections about Willing Holding, Inc.’s business, which are derived in part on assumptions of its management, and are not guarantees of future performance, as such performance is difficult to predict. The Company assumes no obligation to update information concerning its expectations.

Filed Under: Senior Care

Seniors In Touch Announces Patent Award

Posted on July 20, 2010 Written by Editor

SOURCE: TrinityCare Senior Living, Inc.

FRIENDSWOOD, TX–(Marketwire – July 20, 2010) – TrinityCare Senior Living, Inc. (OTCBB: TCSR), today announced they have been awarded a patent for the Company’s interactive family communication system, Seniors In Touch (SIT).

“Seniors In Touch allows senior adults to use a simple touch screen computer system to send and recieve video messages, email, pictures, and other digital media,” says Brian Lang, Chief Executive Officer of SIT. “Family and friends from across town or across the nation can share messages, memories, and daily activity using the Internet, hand held technology, and other creative media. The award of this patent recognizes SIT’s technical and social media innovation.” The Company previously announced the implementation of this technology together with CoVideo Systems, a leader in providing video emailing, conferencing and presentation tools.

About Seniors In Touch

Seniors In Touch is an interactive communication system for senior adults and their families. Utilizing the latest in touch screen computing combined with established communication tools, seniors will be able to send text and video messages to persons in their contacts via a secure, user-friendly, touch interface. A family member serves as the administrator of the Seniors In Touch account to provide approved and safe interaction for the senior adult. Seniors In Touch will also provide photo-sharing services and limited web access for news, weather and sports that is approved by the administrator. The platform will also provide executive directors of senior living facilities a platform in which to communicate with both the senior adults and their families. For more information please visit www.seniorsintouch.com.

About TrinityCare Senior Living, Inc.

TrinityCare Senior Living (“TrinityCare”) develops, owns, and manages quality senior living facilities that focus on enriching the faith of the residents and providing state-of-the-art independent living, assisted living, memory care and adult day care services in a single location. The Company partners with local churches and developers for each facility and offers a wide range of both community and personal services to residents. TrinityCare is a rapidly growing company with three successful facilities currently operating in Texas and Tennessee. Near-term expansion plans target the Southeastern part of the United States. For more information please visit www.trinitycare.com.

TrinityCare is headquartered in Friendswood, Texas (Houston metropolitan area) and its common stock trades on the OTC Bulletin Board under the symbol “TCSR.”

Forward-Looking Statements

The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company’s periodic filings with the Securities and Exchange Commission.

For Additional Information, Please Contact:
Brian Lang
CEO
[email protected]

Filed Under: Senior Care

Center for Technology and Aging Awards Remote Patient Monitoring (RPM) Technology Diffusion Grants

Posted on July 19, 2010 Written by Editor

SOURCE: Center for Technology and Aging

OAKLAND, CA–(Marketwire – July 19, 2010) –  The Center for Technology and Aging today announced grants to five organizations for remote patient monitoring (RPM) technology projects that will demonstrate how RPM improves the quality and efficiency of chronic disease management and post-acute care of older adults. Each project involves a coordinated effort among patients, families and caregivers.

“RPM technologies make a huge difference in the quality of life for those living with chronic conditions,” said David Lindeman, PhD, director of the Center for Technology and Aging. “These projects will underscore the need to reform reimbursement policies and make possible wider adoption of these technologies in public programs — Medicare and Medicaid — as well as among private insurers and health care systems.”

The U.S. health care system could reduce costs by nearly $200 billion during the next 25 years if RPM tools were utilized to care for patients with congestive heart failure (CHF), diabetes, chronic obstructive pulmonary disease (COPD), and chronic wounds or skin ulcers. Eight of 10 older Americans have one or more chronic diseases.

The Center’s RPM initiative goals are to demonstrate that these technologies can be used more widely because they reduce: the use of ER’s and hospitals by older adults, the need for those with chronic illness to move to intensive higher-cost care settings, and the burden on family and professional caregivers.

RPM includes a wide variety of technology, such as point-of-care monitoring devices — weight scales, glucometers, implantable cardioverter-defibrillators, and blood pressure monitors — which become part of a fully integrated health data collection, analysis, and reporting system between the devices, patients, and clinicians.

The grantees are:

  • Sharp HealthCare Foundation (www.sharp.com/sharp-foundation) — Working with senior and home health agencies, this project will monitor patients who have five or more chronic conditions — which may include CHF, peripheral artery disease, COPD, atherosclerosis, hypertension, diabetes, and chronic kidney disease — with the goal of reducing unplanned hospital readmission rates.

  • New England Healthcare Institute (www.nehi.net) — Using the Electronic House Call System (ExpressMD Solutions) and in collaboration with the Massachusetts Technology Collaborative, Atrius Health, and Blue Cross Blue Shield of Massachusetts, this Massachusetts-based project seeks to demonstrate clinical and financial benefits from the use of RPM technologies as evidenced by reducing hospital readmissions.

  • Centura Health At Home (www.centurahealthathome.org) — In collaboration with an internal physician group, telehealth video technologies (inLife and Life View, made by American TeleCare) will be used to enhance 24/7/365 call center response for Centura Health at Home patients in Denver, Colorado. The goal is to reduce re-hospitalizations and to improve quality of life for patients who have diabetes, COPD, or CHF.

  • AltaMed Health Services (www.altamed.org) and Stamford Hospital (www.stamfordhospital.org) — This project will expand use of RPM technology (HoneyWell’s HomMed device) with low-income seniors in East Los Angeles, California and Stamford, Connecticut who have CHF, diabetes, COPD, or hypertension. The goal is to promote better self-management habits and healthy behaviors while also establishing a new healthcare para-professional position, the “Telehealth Technician,” through community college training programs.

  • California Association for Health Services at Home Foundation (www.cahsah.org) — In collaboration with several home care agencies, this project will use Intel’s Health Guide to monitor patients with chronic disease conditions or those needing post-acute care follow-up. The goal is to reduce avoidable 30-day readmissions, hospitalizations, and emergency department visits for Medi-Cal patients; and to inform public policy concerning RPM technology and Medi-Cal programs operating under federal waivers.

“One of the Center’s goals is to assure that funded projects aren’t ‘one and done,’ but are designed to be replicated,” said Lindeman. “Each grantee has identified ways to make sure their project can continue beyond the one?year grant period, can be broadly adopted by others, and is integrated within our long?term care system.”

The five $100,000 grants will be supplemented with a total of over $1,746,000 in matching funds. Individual project details and the Center’s RPM Position Paper are available at the Web site, www.techandaging.org.

The Center for Technology and Aging (www.techandaging.org) supports the rapid adoption and diffusion of technologies that enhance independence and improve home and community-based care for older adults. Through grants, research, and development of practical tools and best practice guidelines, the Center serves as an independent, non-profit resource for improving the quality and cost-effectiveness of long-term care services. The Center was established with funding from The SCAN Foundation (www.thescanfoundation.org) and is affiliated with the Public Health Institute (www.phi.org) in Oakland, CA.

FOR MORE INFORMATION:
Daniel Danzig
925-254-6078
Email Contact

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Filed Under: Health Technology and AI, Senior Care

Extendicare REIT Announces Second Quarter 2010 News Release and Conference Call Information

Posted on July 19, 2010 Written by Editor

MARKHAM, ONTARIO–(Marketwire – July 19, 2010) – Extendicare Real Estate Investment Trust (“Extendicare REIT” or “Extendicare”) (TSX:EXE.UN) today announced it will hold a conference call and live audio webcast on Friday, August 6, 2010, at 10:00 a.m. (ET) to discuss financial results for the second quarter ended June 30, 2010.

Following the issuance of the news release on August 5, 2010, Extendicare will post a copy, along with an update of the supplemental information package, on its website www.extendicare.com under the investors/financial reports section.

The call will be hosted by Tim Lukenda, President and Chief Executive Officer; Doug Harris, Senior Vice President and Chief Financial Officer, and Paul Tuttle, President of Canadian Operations. Following management’s presentation, there will be a question and answer session for analysts and institutional investors.

To participate in the August 6, 2010, conference call, please dial 1-888-789-9572 or 416-695-7806 followed by the passcode 7354234#. The conference call will also be accessible via webcast at www.extendicare.com under the investors/presentations & webcasts section. A replay of the call will be available approximately two hours after completion of the live call until midnight on August 20, 2010. To access the rebroadcast dial 1-800-408-3053 or 416-695-5800, followed by the passcode 3683111#.

About Us

Extendicare REIT is a leading North American provider of long-term and short-term senior care services through its network of owned and operated health care centers. We employ 37,700 qualified and experienced individuals dedicated to helping people live better through a commitment to quality service that includes post-acute care, rehabilitative therapies and home health care services. Our 258 senior care centers in North America have capacity for approximately 28,900 residents. Extendicare REIT is a specified investment flow-through trust (SIFT) that has been subject to the SIFT tax since January 1, 2007.

Filed Under: Healthcare Business, Senior Care

Sun Healthcare Group, Inc. Schedules Conference Call to Announce Earnings for the Second Quarter of 2010

Posted on July 15, 2010 Written by Editor

SOURCE: Sun Healthcare Group, Inc.

IRVINE, CA–(Marketwire – July 15, 2010) –  Sun Healthcare Group, Inc. (NASDAQ: SUNH) invites investors to listen to a conference call with Sun’s senior management on Thursday, July 29, 2010, at 10 a.m. Pacific / 1 p.m. Eastern to discuss the Company’s earnings for the second quarter of 2010.

To listen to the conference call, dial (888) 437-9315 and refer to Sun Healthcare Group. A recording of the call will be available from 4 p.m. Eastern on July 29, 2010, until midnight Eastern on Aug. 30, 2010, by calling (888) 203-1112 and using access code 1833674.

About Sun Healthcare Group, Inc.

Sun Healthcare Group, Inc.’s (NASDAQ: SUNH) subsidiaries provide nursing, rehabilitative and related specialty healthcare services principally to the senior population in the United States. Sun’s core business is providing inpatient services, primarily through 166 skilled nursing centers, 16 combined skilled nursing, assisted and independent living centers, 10 assisted living centers, two independent living centers and eight mental health centers. On a consolidated basis, Sun has annual revenues of $1.9 billion and approximately 30,000 employees in 46 states. At March 31, 2010, SunBridge centers had 23,205 licensed beds located in 25 states, of which 22,423 were available for occupancy. Sun also provides rehabilitation therapy services to affiliated and non-affiliated centers through its SunDance subsidiary, medical staffing services through its CareerStaff Unlimited subsidiary and hospice services through its SolAmor subsidiary.

Contact:
Investor Inquiries
(505) 468-2341
Media Inquiries
(505) 468-4582

Filed Under: Healthcare Business, Senior Care

Third Time’s a Charm, The Lasalle Group, Inc. Breaks Ground on New Specialized Assisted Living Community in Houston

Posted on July 15, 2010 Written by Editor

SOURCE: The LaSalle Group, Inc.

Leading Real Estate Developer Constructs State-of-the-Art Facility Dedicated Specifically to Alzheimer’s and Memory Care in Spring, TX

SPRING, TX–(Marketwire – July 15, 2010) –  Dallas-based developer The LaSalle Group, Inc. is breaking ground on its third specialized Alzheimer’s and Memory Care Assisted Living Community in the Houston area, Autumn Leaves of Cypresswood, in Spring, TX. Company leadership, principal investors and other key partners will gather to see the newest addition to the Autumn Leaves family at official ground breaking ceremonies Tuesday, July 20 beginning at 11:00 a.m. Ceremonies will take place at the Cypresswood site located at 6327 Cypresswood Drive in Spring, TX. Local media and Spring area officials are invited to attend as well. 

Research of the Houston area has continued to show a demand for dedicated Alzheimer’s beds that exceeds the current supply. “We will continue to develop in the Houston market,” said Mitchell Warren, President of The LaSalle Group. “Our partners and investors recognize the pent-up need for our dedicated services that cater to this specific population and based on our in-depth market research results, we are committed to continuing our growth pattern in this market.” Autumn Leaves of Cypresswood will be the 15th property developed by LaSalle over the past ten years. Currently, The LaSalle Group has nine Autumn Leaves communities operating successfully in the Dallas/Fort Worth market and three in the greater Chicago area. The first Houston property to open, Autumn Leaves of The Woodlands, is set to accept their first residents in August; construction on the second Houston property, Autumn Leaves of Riverstone, is underway in Missouri City and scheduled to be completed in early Spring 2011. The company plans to continue their current expansion into the Houston market opening new communities in the area over the next three years.

Autumn Leaves of Cypresswood is scheduled to be completed and accepting residents by late Spring 2011. The property will feature 38 units and accommodate approximately 46 residents. For more information on this or other LaSalle Group projects, contact the home office at (214) 239-8400.

Construction and Management
Lake Superior Contracting, LaSalle’s in-house, full-service construction division, will coordinate and manage the design and construction of the new property ensuring the distinctive, research-based structural design attributed to all of LaSalle’s Autumn Leaves communities is in place. Sister firm Constant Care Management Company will manage and oversee all of the day-to-day operations once the community opens.

About The LaSalle Group, Inc. 
Family-owned and operated, The LaSalle Group (with its subsidiaries and affiliates) develops, builds, manages and owns specialized assisted living residences for people with Alzheimer’s and other forms of memory impairment, as well as other specialized real estate properties throughout the United States. For more information about our business, companies and current projects visit http://www.LaSalleGroup.com or call 1-800-452-7255. “Our Family Caring For Your Family”

About Alzheimer’s Disease
Alzheimer’s disease is a fatal and progressive brain disease that affects over 5.3 million Americans. Currently there is no cure and medications do not stop or reverse the disease. As the most common form of dementia, it accounts for more than approximately 60% of dementia cases.

CONTACT:
Lori Gillen
Communications Associate
The LaSalle Group/Constant Care Management
(214) 239-8400 x130

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Filed Under: Senior Care

Mirada Medical Announces the Appointment of Karsten Damgaard-Iversen as Non-Executive Chairman

Posted on July 12, 2010 Written by Editor

SOURCE: Mirada Medical

OXFORD, UK–(Marketwire – July 12, 2010) –  Mirada Medical Limited (“Mirada” or “the Company”)

Oxford, UK and Ohio, US, 12 July 2010: Mirada Medical Limited, the fast growing international company focused on advanced oncology imaging, announced today that Karsten Damgaard-Iversen has joined the Board of the Company as Non-Executive Chairman. 

Karsten Damgaard-Iversen is an internationally accomplished business professional with more than 30 years global experience of working within the healthcare imaging industry. He is a proven leader with a successful track record in operational and strategic management positions within small, medium and large medical imaging and healthcare technology companies. Mr. Damgaard-Iversen, aged 54, combines strong business acumen with in-depth technical and medical knowledge and has served in executive positions such as Managing Director and Chief Group Executive of Toshiba Medical Systems Europe BV, Managing Director of Toshiba Medical Systems (UK) Ltd., Vice President of International Operations of Fisher Imaging Corporation and Director of Sales & Marketing of Storz Medical AG. Mr. Damgaard-Iversen has also been a direct contributor to the invention and development of specific laser and x-ray based medical products. He holds an MBA from Emory University and a BSc in electronic engineering from Copenhagen University College.

In addition to his role as Chairman at Mirada Medical, Mr. Damgaard-Iversen is the founder and director of Disease Control Innovations Medical BV, a Dutch company engaged in product and EU business development of new medical technology that encompass innovative solutions to disease management and diagnosis. DCI Medical currently supports SonoCine Corporation, a privately held US inventor of automated whole breast ultrasound (AWBU) for screen detection of mammograhically occult breast cancer, and US quoted Imaging Diagnostic Systems, a pioneer in laser optical imaging systems.

Commenting on the appointment of the new Chairman, Hugh Bettesworth, CEO of Mirada Medical, said: “I am delighted that Karsten has chosen to join Mirada Medical as Chairman and that we have been able to attract such international talent from the medical imaging industry to our Board. Karsten’s experience in product development, together with his strategic and operational leadership, will provide Mirada with excellent guidance and steering as we continue to grow and prosper in the global oncology imaging marketplace.”

Commenting on his appointment as Chairman of the Board of Mirada Medical, Mr. Damgaard-Iversen said: “I am extremely impressed by Mirada’s innovative solutions for oncology disease management and cross modality decision support systems and I hope to be able to make a significant contribution to the growth and development of the Company. I look forward to working with the team at Mirada and applying my experience and know-how from the medical imaging arena to guide and support the future success of Mirada.” 

About Mirada Medical

Mirada Medical Limited develops internationally recognised medical imaging analysis applications that provide clinicians with an enhanced software package for the quantification of images, typically used in cancer diagnosis and treatment response assessment. Mirada Medical’s technology has broad applicability across nuclear medicine, diagnostic radiology, radiation oncology and medical oncology. Mirada Medical also markets products in neurology and cardiology. Mirada specialises in offering comprehensive and quantifiable analysis for the diagnosis, staging, treatment planning and assessment of treatment response in oncology. Mirada’s advanced technology allows medical images acquired using MRI, CT, SPECT or PET scanners to be combined into one, a process known as image fusion. Image fusion is useful in clinical interpretation as it allows different qualities of information to be combined into a single picture, for example, functional information such as metabolic activity, to be combined with anatomical information showing the precise location of pathology relative to bones and organs. This provides clinical users with a more complete picture, thereby improving the quality of information available when managing a patient’s condition. Mirada’s products are designed to support the comparison of multi-modal images acquired over any number of follow up visits by the patient, making them particularly well suited to the analysis of treatment response in longer term treatment plans such as those typical when treating cancer.

Mirada Medical was formed out of Oxford University by Professor Sir Michael Brady, one of the world’s leading medical imaging scientists. The Company is ISO 13485 certified and its technology has been supplied globally to customers in countries including the US, Japan, and Europe since 2001. Mirada’s products are sold by Mirada but also by major healthcare players such as McKesson, Siemens, Sectra, Carestream and Vital Images.

The Mirada team is a combination of world class scientists and exceptional engineers sourced from both Oxford University and leading blue-chip companies. For more information about Mirada Medical, please visit www.mirada-medical.com.

For more information, please contact:
Mirada Medical
Europe: Hugh Bettesworth
CEO
tel: +44 (0) 1865 811172
US: Joan Washburn
tel: +1 865 696 7809

M:Communications
Mary-Jane Elliott
Emma Thompson
tel: +44 (0)20 7920 2345
[email protected]

Filed Under: Senior Care

Golden Living Earns 30 Prestigious AHCA/NCAL Quality Awards in 2010

Posted on July 9, 2010 Written by Editor

SOURCE: Golden Living

FORT SMITH, AR–(Marketwire – July 9, 2010) –  30 Golden LivingCenters have been selected by the American Health Care Association and the National Center for Assisted Living (AHCA/NCAL) as recipients of the AHCA/NCAL Bronze and Silver Quality Awards this year. To be selected for one of the independently judged awards, nursing homes must show an extraordinary ongoing commitment to quality care for their residents, as measured against specific criteria.

The AHCA/NCAL Quality Awards are designed to recognize quality achievement, while supporting improvement efforts in long-term care through the promotion of education and awareness. The awards are modeled after the Malcolm Baldrige National Quality Award, which is the nation’s highest award for distinguished health care achievement.

Golden Living has earned 267 Quality Awards since AHCA began the program in 1996. In 2010, 20 Golden LivingCenters received a Bronze Quality Award and a record 10 LivingCenters earned the difficult-to-achieve Silver Quality Award.

“More than 70 percent of our current LivingCenters have earned a Quality Award, which is an astounding achievement and a real testament to our company’s quality focus,” said Neil Kurtz, M.D., President and CEO of Golden Living. “This proven record of quality, year after year — truly sets us apart in the industry.”

“Our caregivers are dedicated to providing the highest level of quality care possible to our patients,” said Larry Deans, President of Golden LivingCenters.

To be selected by AHCA/NCAL as a Bronze Quality Award recipient, a nursing home must demonstrate an organization-wide commitment to a patient-centered mission, define its principal customers and their expectations, and indicate how it is striving to meet their needs.

Quality Award recipients at the Silver level must have demonstrated excellence in the core values and concepts of visionary leadership, focus on the future, resident-focused care, management that measures and analyzes performance, organizational and personal learning, valuing staff and partners, systems perspective and innovation, and focus on results and creating value. To be eligible for the more rigorous Silver designation, nursing homes must also have previously earned the AHCA/NCAL Bronze Quality Award.

“We applaud the leadership of Golden Living for demonstrating national distinction in their quest for performance excellence,” said AHCA/NCAL President and CEO, Bruce Yarwood. “Golden Living is at the forefront of the quality movement and we applaud them for their efforts to incorporate processes that demonstrate enhanced quality

A ceremony honoring the recipients of this year’s awards will be held at the AHCA/NCAL Annual Convention and Exposition, Oct. 10-13, 2010 in Long Beach, California.

About Golden Living (www.goldenliving.com)
Golden Living is one of the largest providers of healthcare services in the United States. Golden Living companies operate skilled nursing and assisted living facilities, and provide rehabilitation therapy, hospice care, home health services and healthcare staffing services. The Golden Living family of companies include Golden LivingCenters, Aegis Therapies, AseraCare Hospice and Home Health, and 360 Healthcare Staffing. There are more than 300 Golden LivingCenters in 21 states. Golden Living also offers assisted living services at more than 40 locations. In addition, the Golden Innovations companies partner with more than 1,000 nursing homes, hospitals and other health care organizations in 37 states and the District of Columbia. Collectively, the Golden Living family of companies has more than 40,000 employees who provide quality healthcare to more than 60,000 patients every day.

Golden Living 2009 Quality Award Recipients

Contact:
Aaron Hase
(202) 434-0507
[email protected]

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Filed Under: Healthcare Business, Senior Care

AdCare Health Systems Closes $6.0 Million Equity Offering

Posted on July 6, 2010 Written by Editor

SOURCE: AdCare

SPRINGFIELD, OH–(Marketwire – July 6, 2010) –  AdCare Health Systems, Inc. (NYSE Amex: ADK), an Ohio-based long-term care, home care and management company, has closed its previously announced sale of 1,714,286 shares of common stock at $3.50 per share, resulting in gross proceeds to the company of $6.0 million. 

AdCare expects to receive net proceeds of approximately $5.4 million, after deducting underwriting discounts, commissions, legal fees and other offering-related expenses payable by the company. As previously announced, AdCare has granted a 30-day option to the underwriter to purchase up to an additional 15% of the shares offered, or 257,143 shares, to cover over-allotments, if any. 

AdCare plans to use the net proceeds of the offering for acquisition purposes, working capital and general corporate purposes.

C.K. Cooper & Company acted as the sole manager for the public offering.

The shares were offered pursuant to a shelf registration statement filed with the Securities and Exchange Commission (SEC) on May 4, 2010, which became effective on June 23, 2010. Copies of the prospectus supplement and accompanying base prospectus, which form a part of the effective registration statement, have been filed with the SEC and may be obtained from the SEC’s website at www.sec.gov or from C.K. Cooper & Company, 18300 Von Karman Avenue, Suite 700, Irvine, California 92612, Attention: Hue Lapham/Syndicate Department, or [email protected], or via fax +1-949-477-9211.

This press release does not constitute an offer to sell or solicitation of an offer to buy any securities. Any such offer may be made only pursuant to the company’s prospectus supplement and accompanying base prospectus for the offering and only in states in which the offering is registered or exempt from registration and by broker-dealers authorized to do so. The securities offered by the prospectus involve a high degree of risk.

About AdCare Health Systems
AdCare Health Systems, Inc. (NYSE Amex: ADK) develops, owns and manages assisted living facilities, nursing homes and retirement communities and provides home healthcare services. Prior to becoming a publicly traded company in November of 2006, AdCare operated as a private company for 18 years. AdCare’s 900 employees provide high-quality care, management services and other services for patients and residents residing in 19 facilities, seven of which are assisted living facilities, 11 skilled nursing centers and one independent senior living community. The company owns eight of those facilities. In the ever-expanding marketplace of long-term care, AdCare’s mission is to provide quality healthcare services to the elderly. For more information about AdCare, visit www.adcarehealth.com.

Safe Harbor Statement
Statements contained in this press release that are not historical facts may be forward-looking statements within the meaning of federal law. Such forward-looking statements reflect management’s beliefs and assumptions and are based on information currently available to management, and involve known and unknown risks, results, performance or achievements of the company which may differ materially from those expressed or implied in such statements. Such factors are identified in the public filings made by the company with the Securities and Exchange Commission and include, among others, the company’s ability to secure lines of credit and/or an acquisition credit facility, find suitable acquisition properties at favorable terms, changes in the health care industry because of political and economic influences, changes in regulations governing the industry, changes in reimbursement levels including those under the Medicare and Medicaid programs and changes in the competitive marketplace. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements. Except where required by law, AdCare undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this press release.

Filed Under: Hospitals and Health Systems, Senior Care

Plus One Sets Wellness Vision for the Future

Posted on July 6, 2010 Written by Editor

SOURCE: Plus One Health Management, Inc.

Industry Leaders Share Health Promotion Best Practices at Annual Roundtable

NEW YORK, NY–(Marketwire – July 6, 2010) –  In its ongoing effort to keep clients and key partners at the forefront of health promotion strategies in the workplace, Plus One hosted its annual Wellness Roundtable at the Cisco campus in San Jose, California today. Themed “Wellness Rx for the Future: Healthy Lifestyles as Medicine,” the event provided leaders from across the country the opportunity to explore how the most progressive companies and experts approach their employee wellness programs while achieving the greatest return on investment. 

Dr. Pam Hymel, Cisco’s Corporate Medical Director, led off the panel and discussed how Cisco executes on their vision for “enhancing the health and well-being of employees and their families leading to healthier, more fulfilling lives and greater productivity.” Through their comprehensive HealthConnections program, Cisco has created a vehicle to determine the most prevalent risk factors among their population, deliver targeted programs for engagement, and offer a single point of origin for family healthcare. 

Next, Dr. Kerry Olsen, Medical Director for Mayo Clinic’s Dan Abraham Healthy Living Center, reiterated the importance of the event’s theme that “exercise is medicine.” He shared how he and his team execute on their goal to “reach the hard to reach employees” and motivate them towards healthier lifestyles by focusing on the body, mind, and spirit. Through the Healthy Living Center’s utilization incentives, a direct correlation has been seen in risk factor reduction among Mayo’s population.

Ken Shachmut, Senior Vice President of Strategic Initiatives, Health Initiatives & Re-engineering for Safeway, closed the panel portion of the event. He shared how Safeway has been able to stand alone in holding their healthcare costs flat for the past five years through incentive based programs and more transparent employee communications. Comparing healthcare costs to Safeway’s core business, Ken asked attendees: “After you go grocery shopping, are you ever told you will receive a receipt after 30 days with the cost of purchase?”

Those attending the event took full advantage of the networking opportunities the setting provided, as well as toured the world class Cisco LifeConnections Health Center and Fitness Center managed by Plus One. Mike Motta, Plus One Co-Founder, President and Chief Executive Officer, hailed the success of the event: “The speakers today are testament to the power regular physical activity and comprehensive wellness programs can have on the health not only of a corporation’s employees, but their bottom line as well. I am proud that we were able to deliver an event like this for our clients and look forward to continuing to provide wellness solutions that deliver results.”

About Plus One
Plus One Health Management Inc. is a leading provider of comprehensive wellness solutions for corporations and other discerning organizations. From the design, development, and management of on-site wellness centers, to the creation and execution of results-focused employee wellness programs, to the five-star delivery of hospitality spa and fitness services, Plus One applies an integrated approach to individual and employee wellness. Clients include Fortune 500 companies, financial services firms, law partnerships, and world leaders in the media, biotechnology, energy, and pharmaceutical industries. Founded in 1986, today Plus One employs more than 1,500 professionals nationwide. For more information, please visit www.plusonehealthmanagement.com.

Media Contact
Doug Naumann
646-312-6206
Email Contact

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Filed Under: Senior Care

Medical Marijuana Has 53 Days Until Launch of "The Hemp Network," the World’s 1st Hemp Product Related Network Marketing Company

Posted on July 6, 2010 Written by Editor

SOURCE: Medical Marijuana Inc

FOOTHILL RANCH, CA–(Marketwire – July 6, 2010) –  Medical Marijuana Inc (PINKSHEETS: MJNA) reports significant progress on staffing of The Hemp Network. President Don Steinberg states, “In the past, Bruce Perlowin and I have created a global network of over 125,000 agents in 50 countries. We have the experience in all aspects of running a global MLM. Now we are in this new, exploding industry with a team of Doctors, immunologists, PhDs, and world renowned nutritionists to round out the products division. We have top network marketers signed up who have already created hundreds of web sites to support this new company. Alexa has rated ‘The Hemp Network’ website in the top 2%. This is after only 2 months which shows the power of this new opportunity. Our proprietary MLM software is nearing completion with a pay plan that is revolutionary. To participate in daily conference calls which discuss the pay plan, upcoming events and exchange of ideas, call 218-339-3600 PIN: 321677. Calls are held Monday through Thursday at 6:00 PM (PDT), which we invite the public to attend.”

Bruce Perlowin, CEO, stated, “The opportunity to be involved in the 1st hemp network marketing company in history in which an existing culture of numerous movements already exist who are passionate about hemp is irresistible. Hemp enthusiast movements include the medical marijuana movement, the marijuana legalization movement, the hemp movement itself, the health, wellness and anti-aging movement, the environmental movement and the green movement. These existing cultural creative movements all herald the wonders of hemp in their various areas and are all natural and highly motivated individuals ripe to participate in The Hemp Network.”

SOLUTIONS

Medical Marijuana Inc has developed a suite of solutions to deliver an efficient and secure infrastructure for the Medical Marijuana Industry which provides the tools to industry operators to effectively manage their business with the confidence that they are in full compliance.

MEDICAL MARIJUANA INC’S TURNKEY COLLECTIVE SOLUTION

Medical Marijuana Inc’s Turnkey Collective Solution ensures that collectives operate within the guidelines of all laws and regulations regarding the tracking of the cannabis from grow cycle to final distribution. By employing Medical Marijuana Inc’s closed loop, patent pending, tracking system, it can be shown to authorities and collectives alike that the source of their supply was an active member of the collective.

TAX COLLECTION

MJNA’s Stored Value Platform System provides verifiable solutions to manage the difficult task of revenue and taxation collection. The customers of the dispensary are issued a plastic debit card or medical revenue card. The ease of access to certifiably secure transactions lessens the risk of loss at each level of the transaction.

ABOUT MEDICAL MARIJUANA INC

Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.

FORWARD-LOOKING DISCLAIMER

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.

Filed Under: Senior Care

Mirada Medical Releases Casebook Software Upgrade for Medical Imaging Presentations

Posted on July 6, 2010 Written by Editor

SOURCE: Mirada Medical

OXFORD, UK–(Marketwire – July 6, 2010) –

Mirada Medical Limited
(“Mirada” or “the Company”)

Mirada Medical Releases Casebook Software Upgrade for Medical Imaging Presentations

Oxford, UK and Ohio, US, 6 July 2010: Mirada Medical Limited, the fast growing international company focused on advanced oncology imaging, today announces that it has released a software upgrade for Casebook (Casebook 1.1.), Mirada’s unique presentation tool for showing medical scans in Microsoft PowerPoint (“PowerPoint”).

Casebook 1.1 works as a plug-in to PowerPoint and uniquely supports fully triangulated multi-planar reconstruction (“MPR”) viewing of single or fused medical images. The new software may be used as a standalone program but also offers full integration with Mirada’s clinical products including XD3, Mirada’s powerful multi-modality image analysis application. Casebook 1.1 enables users to present case information derived from imaging studies clearly and professionally. The software also offers new image visualisation options and easy-to-use editing functions.

Commenting on today’s announcement, Chief Executive Officer, Hugh Bettesworth said: “Casebook provides an easy-to-use solution to a routine problem encountered by clinicians, researchers, academics, students and all who regularly show medical images using PowerPoint. Casebook comprehensively enhances these presentations by adding support for many of the image visualisation features which were previously the preserve of dedicated reading software.”

Casebook 1.1 is available to download free of charge from the Casebook website: www.mirada-casebook.com

About Mirada Medical

Mirada Medical Limited develops internationally recognised medical imaging analysis applications that provide clinicians with an enhanced software package for the quantification of images typically used in cancer diagnosis and treatment response assessment. Mirada Medical’s technology has broad applicability across nuclear medicine, diagnostic radiology, radiation oncology and medical oncology. Mirada Medical also markets products in neurology and cardiology. Mirada specialises in offering comprehensive and quantifiable analysis for the diagnosis, staging, treatment planning and assessment of treatment response in oncology. Mirada’s advanced technology allows medical images acquired using MRI, CT, SPECT or PET scanners to be combined into one, a process known as image fusion. Image fusion is useful in clinical interpretation as it allows different qualities of information to be combined into a single picture, for example, functional information such as metabolic activity, to be combined with anatomical information showing the precise location of pathology relative to bones and organs. This provides clinical users with a more complete picture, thereby improving the quality of information available when managing a patient’s condition. Mirada’s products are designed to support the comparison of multi-modal images acquired over any number of follow up visits by the patient, making them particularly well suited to the analysis of treatment response in longer term treatment plans such as those typical when treating cancer.

Mirada Medical was formed out of Oxford University by Professor Sir Michael Brady, one of the world’s leading medical imaging scientists. The Company is ISO 13485 certified and its technology has been supplied globally to customers in countries including the US, Japan, and Europe since 2001. Mirada’s products are sold by Mirada directly and also by major healthcare players such as McKesson, Siemens, Sectra, Carestream and Vital Images.

The Mirada team is a combination of world class scientists and exceptional engineers sourced from both Oxford University and leading blue-chip companies. For more information about Mirada Medical, please visit www.mirada-medical.com.

For more information, please contact:

Mirada Medical
Europe: Hugh Bettesworth, CEO
tel: +44 (0) 1865 811172
US: Joan Washburn
tel: +1 865 696 7809

M:Communications
Mary-Jane Elliott / Emma Thompson
tel: +44 (0)20 7920 2345
[email protected]

Filed Under: Health Technology and AI, Senior Care

Lengthy Term Care Health Insurance – A Closer Look

Posted on July 6, 2010 Written by Editor

Learn More:

NIB Health Insurance

 Youngsters at present face an ever rising variety of temptations ranging from drinking and smoking, drugs, playing and pre-martial sex. Unfortunately, on account of their youth and inexperience they fail to understand that what they do of their youth can have an excellent impact on their quality of life as they grow older.
Then again, as individuals grow older and approach retirement age they start to understand that the carelessness of their youth did have a profound impact on the quality of their life but now they are ready to do no matter it takes to take away as a lot danger as they can. As a result, an ever growing development has been the buying of long run care health insurance as a technique of lowering the monetary threat a chronic illness poses. 
Long run medical health insurance is one the perfect methods to reduce whatever fears you could have by way of how you’ll be able to handle your well being after (and in some instances at a a lot younger age if you’re the sufferer of an untimely accident) retirement in addition to ensure your family (your spouse, children and even your grandchildren) that they will not get saddled with the potentially large quantity of debt that may consequence from the high-cost of medical care. Long run care health insurance is among the greatest methods to guarantee that not solely will you receive larger high quality care but that you just won’t lose a lifetime value of savings in the process.
Because health care prices continue to rise at dramatic charges nearly every year, it is turning into growing advisable to start coverage much earlier in life. Traditionally, individuals wouldn’t even take into account long term care till nearing retirement or even till after retirement however you may want to reconsider your pondering if that’s been your plan. A number of massive causes you may want to consider looking into long run care health insurance as early as your mid 50’s are premiums and approval. Insurance policies taken out when somebody is of their early 50’s (that is still seen as a good age group ) is much cheaper then one initiated in their early to mid 60’s and the older you get the upper the premiums.
Nevertheless, if you happen to take out a coverage if you find yourself younger you’ll proceed to pay the identical premium at the same time as you get older. Positive, it’s possible you’ll pay for 10, 15 or 20 years earlier than you need it but while you do need it you’ll have much better coverage.
Another huge cause you might wish to think about taking out a policy earlier in life is that you vastly increase your odds of getting permitted with no riders or different exclusions. When you get harm or sick and notice you need long run medical insurance then it is too late to get coverage because no insurance coverage company will situation you a policy – at any price.
If you’re currently somewhat older and you have other revenue moreover your Social Safety benefits or Supplemental Safety Revenue (SSI) and also you completely have no bother paying on your each day wants and all your month-to-month bills then it’s best to definitely look right into a long term care health insurance plan.
When you make the choice to look into purchasing a long term care medical insurance plan it’s good to remember that no matter company you talk too will assess your health and you current state of life earlier than issuing you a policy. That can assess your means to deal with the Actions of Each day Dwelling (ADL). 
These so-referred to as Activities of Daily Dwelling are actions like: taking a bath, continence, dressing your self, consuming by yourself, going to the toilet (with none help from others) and getting yourself in and out of bed. If you cannot most if not all of these actions you alter of getting accredited and a policy issued is significantly reduced.
On the other hand, totally different companies use completely different approval standards and there are several types of policies you’ll be able to apply for. Some policies are geared in the direction of home health care or having a private home nurse whereas others are designed for care to be obtained while staying in a long term care facility. You will be given the option to decide on the type of plan you want to when you apply however like most things, you pay for what you get and totally different plans come will totally different value tags. Just be sure you completely understand all your options first and if you happen to feel pressured and uncomfortable then politely transfer on to the subsequent firm to apply.
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Filed Under: Health Insurance Coverage, Senior Care

$6M Award to Support Aging Resource at Coriell Institute

Posted on July 1, 2010 Written by Editor

SOURCE: Coriell Institute for Medical Research

Promoting Research on Alzheimer’s, Parkinsonism

CAMDEN, NJ–(Marketwire – July 1, 2010) –  Close on the heels of another major award from the National Institutes of Health (NIH), the Coriell Institute has announced its receipt of a five-year, $6-million NIH contract to manage the National Institute on Aging (NIA) Aging Cell Repository.

“Our long-standing expertise in the biobanking arena has been a decisive factor in maintaining major contracts such as the NIA Cell Repository,” said Coriell President and CEO, Michael F. Christman, Ph.D.

Coriell has overseen the Aging Cell Repository since its establishment in 1974, repeatedly outshining the competition to house this vital resource and distribute high-quality biomaterials for research purposes. The Repository, which facilitates cellular and molecular research studies on the mechanisms of aging and the degenerative processes associated with it, contains more than 2,000 cell lines from individuals with premature aging disorders, Alzheimer’s disease, and samples from persons of great age (90+ years).

“Diseases like Alzheimer’s and Parkinson’s ravage our seniors, weigh on their loved ones and drain patients of financial resources,” said U.S. Senator Robert Menendez. “This an investment that will assist research to treat and defeat these diseases, while lowering the costs associated with them. Coriell is helping to lead the way, once again showing how New Jersey is the innovation state.”

Scientists in more than 40 countries have utilized these vital biomaterials, resulting in the publication of more than 1,000 scientific papers describing aging-related research discoveries. These samples have been used in the identification of many disease genes, including the gene for Hutchinson Gilford Progeria Syndrome, a rare, genetic disease causing characterized by dramatic, rapid appearance of aging beginning in childhood.

With this award, Coriell is responsible for selecting, establishing, characterizing, documenting and storing new aging-related cell lines for research. Additionally, Coriell will bank induced pluripotent stem cell (iPSC) lines — cells produced by genetically reprogramming specialized cell types, like skin cells, into cells with the ability to turn into any human cell type.

“Coriell will be integrating a revolutionary technology, iPSCs, into the Repository collection to support the study of aging-related diseases. This effort will promote discovery around the causes and potential cures for devastating diseases such as Parkinson’s disease,” said Margaret Keller, Ph.D., Principal Investigator of the NIA contract. “The future holds great promise for the use of iPSCs in regenerative medicine and we are taking the first step to understand this potential.”

Since its establishment in 1953, Coriell has served the scientific community by maintaining the world’s leading cryogenic biobanking facility, distributing its more than 745,000 unique samples — encompassing cell lines, DNA, RNA, plasma, and more — to researchers in sixty-five nations. Through contracts such as the National Institutes on Aging, Coriell is able to support worldwide research initiatives with the ultimate goal of improving human health.

About Coriell
Coriell Institute for Medical Research (www.coriell.org) is an internationally known, non-profit, biomedical research institution headquartered in Camden, NJ, contiguous with the Cooper University Hospital Health Sciences Campus. Founded in 1953, Coriell is the world’s leading biobank resource for biological materials and home of the Coriell Personalized Medicine Collaborative® (CPMC®) research study, a forward-looking project aimed at understanding the utility of genome-informed medicine and identifying genetic variants associated with common complex disease and variation in drug response (http://cpmc.coriell.org).

About NIA
The NIA leads the federal effort supporting and conducting research on aging and the medical, social and behavioral issues of older people. For more information on research and aging, go to www.nia.nih.gov.

The NIH — the nation’s medical research agency — includes 27 institutes and centers and is a component of the U. S. Department of Health and Human Services. It is the primary federal agency for conducting and supporting basic, clinical and translational medical research, and it investigates the causes, treatments, and cures for both common and rare diseases. For more information about NIH and its programs, visit www.nih.gov.

CONTACT:
Coriell Institute for Medical Research
Courtney Kronenthal, Ph.D.
856-757-9752
Email Contact

Filed Under: Senior Care

Given Imaging Announces Article in Gastrointestinal Endoscopy Featuring Maneuverable PillCam Capsule

Posted on July 1, 2010 Written by Editor

SOURCE: Given Imaging

PillCam® Capsule Manipulated to Change Direction; Researchers See Potential for Future to Deliver Therapy in Humans

YOQNEAM, ISRAEL–(Marketwire – July 1, 2010) –  Given Imaging Ltd (NASDAQ: GIVN), a leader in capsule endoscopy and specialty GI diagnostics, today announced that the first in-human study analyzing remote magnetic manipulation of a PillCam video capsule was published in the June 2010 edition of Gastrointestinal Endoscopy, the journal of the American Society for Gastrointestinal Endoscopy, which validates the potential of magnetic maneuvering of the PillCam capsule endoscope. Led by Dr. Paul Swain of the Imperial College, London, United Kingdom, and sponsored by the nano-based capsule endoscopy with molecular imaging and optical biopsy (NEMO) consortium led by Given Imaging, the study aimed to assess the efficacy of remote magnetic manipulation in the esophagus and stomach by simultaneously recording the capsule’s positions and movements with the orientation and movement of the external handheld magnet.

“This study demonstrated two things: 1] we can maneuver capsule in humans and 2] that the procedure is painless. We believe that these results underscore the value of conducting additional clinical studies in humans,” said Dr. Paul Swain of the Imperial College, London, United Kingdom. “Remote manipulation may improve diagnostic accuracy and is essential for the future development of remote controlled therapy by video capsules.”

Researchers modified a PillCam® COLON capsule to include rare earth magnetic materials and to replace the usual magnetic on/off switch with a thermal switch. An external paddle-shaped magnet was used to manipulate the capsule remotely, and Given Imaging’s RAPID® RealTime viewer captured capsule images. Additionally, a high-definition video-gastroscope was used to observe the capsule in the esophagus and stomach, and a room video camera recorded the scene and hand movements of the endoscopist to allow coordinated time imaging of the movement of the external magnet with movements of the capsule inside the stomach and esophagus.

“As the pioneers of capsule endoscopy, Given Imaging is committed to exploring new ways to make both diagnoses and therapeutic interventions in the GI tract less invasive and more effective for patients,” said Homi Shamir, president and chief executive officer, Given Imaging. “Our relationship with the NEMO Consortium exemplifies how productive a true partnership between industry and the medical community can be at finding new ways to improve patient care.”

The exam was performed in the Dartmouth-Hitchcock Medical Center, Lebanon, New Hampshire, USA, by Richard I. Rothstein, MD and Paul Swain of the Imperial College, London, UK in cooperation with Given Imaging. IBMT, or the Fraunhofer Institute for Biomedical Engineering, St. Ingbert, Germany, provided the external paddle-shaped magnet under the direction of Frank Volke, PhD.

About Given Imaging Ltd.
Since 2001, Given Imaging has advanced gastrointestinal visualization by developing innovative, patient-friendly tools based on its PillCam® Platform. PillCam® capsule endoscopy provides physicians with natural images of the small intestine via PillCam® SB, the esophagus through PillCam® ESO and the colon with PillCam® COLON [PillCam COLON is not cleared for use in the USA]. The PillCam® capsules are miniature video cameras that patients ingest. Given Imaging’s other capsule products include Agile™ patency capsule, to verify intestinal patency, and Bravo®, the only wireless, catheter-free, 48-hour pH test commercially available for pH testing to assess gastroesophageal reflux disease (GERD). Given Imaging’s products use cutting-edge, wireless technology and advanced software to enable gastroenterologists to visualize diseases of the esophagus, small bowel and colon. All Given Imaging products allow patients to maintain normal activities. In April 2010 Given Imaging acquired Sierra Scientific Instruments, the leading provider of specialty GI diagnostic solutions and pioneer of high-resolution manometry for assessing gastrointestinal motility. Sierra Scientific is now a wholly-owned subsidiary of Given Imaging. Given Imaging’s headquarters, manufacturing and R&D facilities are located in Yoqneam, Israel, with operating subsidiaries in the United States, Germany, France, Japan, Australia and Singapore. For more information, please visit www.givenimaging.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, projections about our business and our future revenues, expenses and profitability. Forward-looking statements may be, but are not necessarily, identified by the use of forward-looking terminology such as “may,” “anticipates,” “estimates,” “expects,” “intends,” “plans,” “believes,” and words and terms of similar substance. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual events, results, performance, circumstances or achievements of the Company to be materially different from any future events, results, performance, circumstances or achievements expressed or implied by such forward-looking statements. Factors that could cause actual events, results, performance, circumstances or achievements to differ from such forward-looking statements include, but are not limited to, the following: (1) our ability to develop and bring to market new products, (2) our ability to successfully complete any necessary or required clinical studies with our products, (3) our ability to receive regulatory clearance or approval to market our products or changes in regulatory environment, (4) our success in implementing our sales, marketing and manufacturing plans, (5) the level of adoption of our products by medical practitioners, (6) the emergence of other products that may make our products obsolete, (7) lack of an appropriate bowel preparation materials to be used with our PillCam COLON capsule, (8) protection and validity of patents and other intellectual property rights, (9) the impact of currency exchange rates, (10) the effect of competition by other companies, (11) the outcome of significant litigation, (12) our ability to obtain reimbursement for our product from government and commercial payors, (13) quarterly variations in operating results, (14) the possibility of armed conflict or civil or military unrest in Israel, (15) the impact of global economic conditions, (16) our ability to successfully integrate acquired businesses, (17) changes and reforms in applicable healthcare laws and regulations and (18) other risks and factors disclosed in our filings with the U.S. Securities and Exchange Commission, including, but not limited to, risks and factors identified under such headings as “Risk Factors,” “Cautionary Language Regarding Forward-Looking Statements” and “Operating Results and Financial Review and Prospects” in the Company’s Annual Report on Form 20-F for the year ended December 31, 2008. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Except for the Company’s ongoing obligations to disclose material information under the applicable securities laws, it undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

For further information contact:

Fern Lazar/David Carey
Lazar Partners Ltd.
1-212-867-1768
Email Contact/
Email Contact

Filed Under: Senior Care

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