For Immediate Release Almost Family, Inc. Completes Acquisition of Patient Care, Inc. Friday August 1, 7:30 am ET - Added $47 million in annual revenues and eight locations in New Jersey, Connecticut, and Pennsylvania - LOUISVILLE, Ky., Aug. 1 /PRNewswire-FirstCall/ -- Almost Family, Inc. (Nasdaq: AFAM - News), a leading regional provider of home health nursing services, today announced that it completed the previously announced acquisition of Patient Care, Inc. William B. Yarmuth, President and CEO of Almost Family, Inc., noted, "We are extremely pleased to welcome all the employees, the patients, and referral sources of Patient Care to the Almost Family team. We look forward to building upon Patient Care's well-known long standing brand name in the northeast. " This acquisition, the Company's largest to date, expands Almost Family's presence in the Northeast with three locations in New Jersey, one in Pennsylvania, and four in Connecticut. With this acquisition, Almost Family operates 89 branches across 11 states. Patient Care was acquired for $45.2 million, subject to a working capital adjustment. Additionally, the Company assumed approximately $1.3 million in capital lease obligations. Due to the transition, wind down costs and the timing of the close, the acquisition is not expected to contribute significantly to earnings in 2008 but is expected to be accretive to EPS in 2009. Established in 1975, Patient Care operates Medicare-certified home health agency locations in three Northeast states. Patient Care is the largest for- profit home health provider in New Jersey serving four densely populated counties; is one of the largest providers in Connecticut; and operates one branch in eastern Pennsylvania. With a total of eight branch locations, Patient Care generated 2007 annual revenues of approximately $47 million. About Almost Family, Inc. Almost Family, Inc., founded in 1976, is a leading regional provider of home health nursing services, with branch locations in Florida, Kentucky, Connecticut, New Jersey, Ohio, Massachusetts, Alabama, Missouri, Illinois, Pennsylvania, and Indiana (in order of revenue significance). Almost Family, Inc. and its subsidiaries operate a Medicare-certified segment and a personal care segment. Altogether, Almost Family operates 89 branch locations in 11 U.S. states. Forward Looking Statements All statements, other than statements of historical facts, included in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "will," "expect," "believe," estimate," "project," anticipate," "continue," or similar terms, variations of those terms or the negative of those terms. These forward-looking statements are based on the Company's current plans, expectations and projections about future events. Because forward-looking statements involve risks and uncertainties, the Company's actual results could differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. The potential risks and uncertainties which could cause actual results to differ materially include: regulatory approvals or third party consents may not be obtained, the impact of further changes in healthcare reimbursement systems, including the ultimate outcome of potential changes to Medicare reimbursement for home health services and to Medicaid reimbursement due to state budget shortfalls; the ability of the Company to maintain its level of operating performance and achieve its cost control objectives; changes in our relationships with referral sources; the ability of the Company to integrate acquired operations; government regulation; health care reform; pricing pressures from Medicare, Medicaid and other third-party payers; changes in laws and interpretations of laws relating to the healthcare industry; and the Company's self-insurance risks. For a more complete discussion regarding these and other factors which could affect the Company's financial performance, refer to the Company's various filings with the Securities and Exchange Commission, including its filing on Form 10-K for the year ended December 31, 2007, in particular information under the headings "Special Caution Regarding Forward-Looking Statements" and "Risk Factors." The Company undertakes no obligation to update or revise its forward-looking statements. Almost Family, Inc. Steve Guenthner (502) 891-1000 The Ruth Group Stephanie Carrington / Jared Hoffman (investors) (646) 536-7017 / 7013 scarrington@theruthgroup.com jhoffman@theruthgroup.com Jason Rando / Jeneane Smith (media) (646) 536-7025 / 7021 jrando@theruthgroup.com ajsmith@theruthgroup.com -------------------------------------------------------------------------------- Source: Almost Family, Inc.