Addus HomeCare Awarded Contract Renewal in Riverside County, California

PALATINE, Ill., June 16, 2011 /PRNewswire/ -- Addus HomeCare Corporation (Nasdaq: ADUS), a comprehensive provider of home-based social and medical services, announced today that it was awarded a contract renewal to be the agency provider of home-based personal care through Riverside County's In-Home Supportive Services (IHSS) program.

Addus was the successful bidder in a competitive bidding process for the contract, which will be funded through a combination of state, federal and county sources. The contract runs from July 1, 2011 to June 30, 2012, with two additional option years.  Valued at $11.5 million annually, the award represents Addus' largest sole-sourced contract.  Addus is a full-service provider in Riverside County, with personal care, home health, commercial and private care.  

Mark Heaney, President and Chief Executive Officer of Addus HomeCare, said, "We are pleased to extend our 15+ year relationship with Riverside County, as we believe the contract renewal reflects the County's confidence in our continued ability to provide consumers with the highest quality care.  

In a challenging budgetary environment, we are encouraged that the federal, state and local governments continue to recognize the benefits of in-home care as one of the most cost-effective solutions to caring for our aging population."

About Addus

Addus is a comprehensive provider of a broad range of social and medical services in the home. Addus' services include personal care and assistance with activities of daily living, skilled nursing and rehabilitative therapies, and adult day care. Addus' consumers are individuals with special needs who are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus' payor clients include federal, state and local governmental agencies, commercial insurers and private individuals.

Forward-Looking Statements

Certain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as "continue," "expect," and similar expressions. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including the anticipated value of contracts, expected benefits and costs of acquisitions, management plans related to acquisitions, the possibility that expected benefits may not materialize as expected, the failure of a target company's business to perform as expected, Addus HomeCare's inability to successfully implement integration strategies, changes in reimbursement, changes in government regulations, changes in Addus HomeCare's relationships with referral sources, increased competition for Addus HomeCare's services, increased competition for joint venture and acquisition candidates, changes in the interpretation of government regulations, and other risks set forth in the Risk Factors section in Addus HomeCare's Annual Report on Form 10-K, filed with the Securities and Exchange Commission on March 28, 2010, and in Addus HomeCare's Quarterly Report on Form 10-Q, filed with the Securities and Exchange Commission on May 5, 2011, each of which is available at http://www.sec.gov. Addus HomeCare undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contacts:
Amy Glynn / Nick Laudico
The Ruth Group
Phone: (646) 536-7023 /7030
Email: [email protected]
Email: [email protected]

Media Contact:
Jason Rando
The Ruth Group
Phone:  (646) 536-7025
Email: [email protected]

SOURCE Addus HomeCare Corporation

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