LOUISVILLE, K.Y., Nov. 4 /PRNewswire-FirstCall/ -- ResCare, Inc. (NASDAQ: RSCR) today announced the acquisition of Care Resources, a staffing services company for all levels of educational, therapeutic, nursing and technical support to students with special needs in public and private schools, hospitals and private clinics or homes. Care Resources is headquartered in Baltimore, Maryland, with a hub in Tucson, Arizona. Professional staff includes: special education teachers and aides; physical, speech and occupational therapists; psychologists; social workers; nurses and nutritionists. The company is also a nationally recognized, accredited and licensed provider of continuing education for the professional community. Care Resources has contracts in Maryland, District of Columbia and Arizona and will be managed under the company’s education services segment. Annual revenue is approximately $13 million.

“Ralph G. Gronefeld, Jr., ResCare president and chief executive officer, said, “Care Resources is a new kind of service offering for ResCare, but it fits seamlessly into our company. The services are consistent with ResCare’s mission of helping people meet their highest level of independence. Much like ResCare, Care Resources provides services to people with developmental disabilities and children with special education needs.”

Parchman, Vaughan and Company, L.L.C. served as financial advisor to Care Resources, Inc. with respect to the transaction.

About ResCare, Inc.

ResCare, with nearly 35 years of experience helping people reach their highest level of independence, is one of the largest providers of home care to the elderly and those with disabilities. It also offers residential and support services to people with intellectual and developmental disabilities and provides education, vocational training and job placement for people of all ages and skill levels. Based in Louisville, Kentucky, ResCare and its more than 45,000 dedicated employees serve daily more than 65,000 people in 39 states, Washington, D.C., Puerto Rico and in a growing number of international locations. For more information about ResCare, please visit the Company’s website at www.rescare.com.

From time to time, ResCare makes forward-looking statements in its public disclosures, including statements relating to expected financial results, revenues that might be expected from new or acquired programs and facilities, its development and acquisition activities, reimbursement under federal and state programs, financing plans, compliance with debt covenants and other risk factors, and various trends favoring privatization of government programs. In ResCare's filings under the federal securities laws, including its annual, periodic and current reports, the Company identifies important factors that could cause its actual results to differ materially from those anticipated in forward-looking statements. Please refer to the discussion of those factors in the Company's filed reports. Statements related to expected financial results are as of this date only, and ResCare does not assume any responsibility to update these statements.

Source: ResCare, Inc.