WASHINGTON--(BUSINESS WIRE)--Jul. 3, 2014--
Graham Holdings Company (NYSE: GHC) today announced it has acquired a
majority interest in Residential Healthcare Group, Inc., the parent
company of Residential Home Health and Residential Hospice, leading
providers of skilled home health care and hospice services in Michigan
and Illinois. Mike Lewis, chairman and chief executive officer, and the
Residential Healthcare Group management team will continue to operate
the businesses. The purchase price was not disclosed.
Residential Home Health, founded in 2001, and Residential Hospice,
founded in 2011, are in-home, on-site and on-call providers based in
Troy, MI. They offer a wide range of services and an experienced and
caring staff of nurses, therapists, medical social workers, personal and
spiritual care attendants and other medical professionals.
Donald E. Graham, chairman and chief executive officer of Graham
Holdings, said: “Our acquisition of Residential Healthcare Group is part
of Graham Holdings’ ongoing strategy of acquiring companies with
demonstrated earnings potential and strong management teams attracted to
our long-term investment horizon. Residential Healthcare is an
acquisition that fits our decentralized operating philosophy. We are a
diverse group of businesses sharing common goals and values but each
with its own identity and workplace culture, and with management
responsible for its operations.”
About Graham Holdings Company (www.ghco.com)
Graham Holdings Company (NYSE: GHC) is a diversified education and media
company whose principal operations include educational services,
television broadcasting, cable systems and online, print and local TV
news. The Company owns Kaplan, a leading global provider of educational
services; Post–Newsweek Stations (WDIV–Detroit, KPRC–Houston,
WKMG–Orlando, KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving
small-city subscribers in 19 midwestern, western and southern states;
The Slate Group (Slate, Slate V, TheRoot); and Foreign Policy. The
Company also owns Trove, a digital team focused on innovation and
experimentation with emerging technologies; SocialCode, a leading social
marketing solutions company; Celtic Healthcare; Forney Corporation; and
Joyce/Dayton Corp.
Source: Graham Holdings Company
Graham Holdings Company
Rima Calderon, 301-996-6350
rima.calderon@ghco.com
