Newsletter Articles | June 30, 1999
ResCare and PeopleServe: Merger Approved by Stakeholders
OPEN MINDS, The Behavioral Health & Social Service Industry Analyst
Industry News
ResCare Inc., announced on June 15, 1999, that its shareholders and those of PeopleServe, located in Dublin, Ohio, have approved its merger. With estimated revenues in excess of $800 million, the combined company will serve more than 26,000 individuals with special needs in 32 states, Washington, D.C., Canada, and Puerto Rico.
The two companies employ about 25,000 people. The transaction, considered a pooling-of-interests, is valued at approximately $170 million. PeopleServe, maintains operations . . .