Full Press Release Details
Buys Five Northern California Franchises - Acquisition is the Company's
CINCINNATI--(BUSINESS WIRE)--October 1, 2018--Chemed Corporation
("Chemed") (NYSE:CHE) today announced its Roto-Rooter Services Company
subsidiary has acquired five formerly independent Roto-Rooter franchises
covering several areas of Northern California. This is Roto-Rooter's
largest franchise acquisition to date, with annual sales of $22 million.
The territories served by the franchises encompass all or parts of six
counties, including Contra Costa, Santa Clara, Solano, Napa, Sonoma and
San Benito, with a combined population of approximately four million
people. The acquired territories include the cities of San Jose, Santa
Rosa, Santa Clara, Sunnyvale, Vallejo, Concord, Fairfield and Napa.
The sale was effective October 1, 2018. Terms of the transaction were
not disclosed. This acquisition is part of Roto-Rooter's ongoing
strategy of acquiring franchises to boost productivity, market share and
Listed on the New York Stock Exchange and headquartered in Cincinnati,
Ohio, Chemed Corporation (www.chemed.com) operates two wholly
owned subsidiaries: VITAS Healthcare and Roto-Rooter. VITAS is the
nation's largest provider of end-of-life hospice care and Roto-Rooter is
the nation's leading provider of plumbing and drain cleaning services.
Statements in this press release or in other Chemed communications
may relate to future events or Chemed's future performance. Such
statements are forward-looking statements and are based on present
information Chemed has related to its existing business circumstances.
Investors are cautioned that such forward-looking statements are
subject to inherent risk that actual results may differ materially from
such forward-looking statements. Further, investors are cautioned
that Chemed does not assume any obligation to update forward-looking
statements based on unanticipated events or changed expectations.
David P. Williams, 513-762-6901