Gentiva Health Services, Inc. (Nasdaq: GTIV) reported its fourth quarter and full-year 2010 results last week that showed the company’s total net revenue increasing to $465.0 million for the quarter and $1.45 billion for the year which is an increase of 26% from 2009. Gentiva, the largest provider of home health and hospice services in the United States based on revenue, saw its hospice revenues in the 2010 fourth quarter up 6% from its own existing hospice business as well as $174.3 million in revenues from the Odyssey acquisition. Hospice represented 42% of total net revenues in the fourth quarter of 2010, compared to 6% in the comparable quarter of 2009.
"2010 was a milestone year for us as we significantly expanded our hospice business mix through the Odyssey acquisition, while delivering strong operating results and continuing to deliver a high level of patient care," said Gentiva CEO Tony Strange . "With our increased scale and capabilities, we are well positioned for another strong year in 2011."
Gentiva’s outlook for 2011 shows full-year net revenues to be in the range of $1.90 billion to $1.95 billion and adjusted income from continuing operations attributable to Gentiva shareholders to be in the range of $2.70 to $2.80 on a diluted per share basis. The outlook accounts for the full-year impact of its Odyssey HealthCare, Inc. acquisition and the final rules regarding Medicare home health reimbursement rates for 2011.
For more details, visit Gentiva’s 8-K