A natonal home health and hospice care company is closing its Rochester office at the end of the month.
Amedisys Home Health Care Services is closing its office at 3428 Lakeridge Place N.W.
It is located in the complex that was recently purchased by Rochester-based Metafile. Staff say that the closing, which was a corporate decision, is not connected to Metafile's purchase of the building from Bigelow Homesin May.
Amedisys, which is based in Baton Rouge, Louisana, opened its Rochester office in November 2009.
The company reported its second quarter earnings on Tuesday. Here's some from the Wall Street Journal's take on that "downbeat" report.
ADVERTISEMENT
Amedisys Inc.'s second-quarter profit fell 33% as the largest U.S. home-health-care provider reported lower revenue and offered a downbeat forecast for the rest of the year.
Shares were off 11% at $21.85 premarket on the weaker-than-expected results as the company also slashed its full-year earnings estimate to $2.20 to $2.40 a share, with net service revenue between $1.48 billion and $1.5 billion. Its April guidance called for earnings of $3 to $3.30 a share and revenue of $1.6 billion to $1.65 billion.
The lowered view for 2011 still excluded the impact of Friday's decision from the Centers for Medicare & Medicaid Services to reduce Medicare rates by 11.1% in response to what it said were unexpected increases in nursing-home payments this fiscal year. That news sent shares of Amedisys and its peers tumbling as a major source of revenue was sharply curtailed.
Amedisys has reported slumping earnings in recent quarters after the federal government began scrutinizing the company and its peers regarding possible abuse of Medicare rules.
