Amedisys, Inc. under investor investigation
An investigation on behalf of investors in Amedisys, Inc. (NASDAQ:AMED)
If you are an investor in Amedisys, Inc. (NASDAQ:AMED) stock, including those who purchased between May 1, 2008 through and including May 13, 2010 or purchased prior to May 2008 and continue to hold their AMED shares, you have certain options and you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.
Amedisys, Inc., located in Baton Rouge, LA, is a provider of home health services to the chronic, co-morbid, aging American population. Amedisys, Inc. reported in 2007 Total Revenue of $697.93million, in 2008 Total Revenue of $1.18741billion, and in 2009 $1.51346billion. According to the investigation by a law firm the investigation on behalf of investors in Amedisys, Inc. (Public, NASDAQ:AMED) stock focuses on possible securities laws violations by Amedisys Inc. during the period between May 1, 2008 through and including May 13, 2010. On April 26, 2010, The Wall Street Journal reported that an analysis by the Wall Street Journal of Medicare payments to home health-care companies in recent years raised questions about whether some companies, including the sector’s largest company Amedisys Inc., are taking advantage of the Medicare reimbursement system. The article also names Gentiva Health Services Inc. (Nasdaq: GTIV), LHC Group, Inc. (Nasdaq: LHCG), and Almost Family Inc. (Nasdaq: AFAM). The April 26, 2010 article further stated that “[t]he results show that the number of in-home therapy visits tracks Medicare financial incentives.”
On May 13, 2010, the Wall Street Journal further reported that the Senate finance Committee had launched an investigation into the practices of Amedisys Inc., Gentiva Health Services Inc., LHC Group Inc., and Almost Family Inc. According to the May 13 Wall Street Journal article, letters were emailed to the CEOs of each of the four companies requesting that each company provide information on their companies’ therapy visits from 2006 through 2009 and about financial relationships with referring physicians. Senate Finance Committee Chairman Max Baucus and Ranking Republican Member Charles Grassley wrote, “These findings suggest that HHAs are basing the number of therapy visits they provide on how much Medicare will pay them instead of what is in the best interests of the patients”. Additionally, the May 13, 2010 article stated as follows: “The home therapy numbers cited in the [April 26, 2010 WSJ article], which came from publicly available Medicare claims, “suggest home health agencies intentionally increased utilization for the purpose of triggering higher reimbursements,” the senators wrote in letters that were emailed to the chief executives of the four companies”. On this news, so the investigation, Amedisys stock (AMED) fell $4.74 or over 8% in one day. Shares of Amedisys, Inc. (AMED) traded recently at $49.72 per share, down from its 52weekHigh of $64.28 per share.
Those who are investors in Amedisys, Inc. (Public, NASDAQ:AMED) stock, including those who purchased between May 1, 2008 through and including May 13, 2010 or purchased prior to May 2008 and continue to hold their AMED shares, you have certain options and you should contact the Shareholders Foundation, Inc by email at mail@shareholdersfoundation.com or call +1 (858) 779 – 1554.
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