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Gentiva Growth Keeps It a Buy – Analyst Blog

Source: http://www.zacks.com/stock/news/21964/Gentiva+Growth+Keeps+It+a+Buy+-+Analyst+Blog
 Posted on Wednesday, July 8th, 2009 | In Market Commentary, Stocks to Watch
Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -

Gentiva Health Services (GTIV) recently announced that it had purchased the assets of a homecare operation from the Nicholas County Commission on behalf of the Nicholas County Board of Health in West Virginia. The transaction is being funded from Gentiva’s existing cash reserves. The acquisition is not expected to have a material impact on Gentiva’s financial position or results of operations in 2009.

Nicholas Webster County Home Health Agency is a Medicare-certified operation that provides services for patients in the counties of Nicholas, Webster and Greenbrier. West Virginia requires a certificate-of-need (CON) by county to participate in the home health program. The purchase extends GTIV’s CON coverage to more than 20 counties throughout the state.

We rate GTIV a Buy at current levels. Notwithstanding reimbursement risk related to current healthcare reform initiatives in Washington, we are encouraged by the growth of specialty program and hospice revenues.
Read the full analyst report on “GTIV”
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