Contacts:

Investor Contact:

Media Contact:

Amedisys, Inc.

Amedisys, Inc.

Kevin LeBlanc

Jacqueline Chen Valencia

Director of Investor

Senior Vice President

Relations

Marketing & Communications

(225) 292-2031

(225) 295-9688

kevin.leblanc@amedisys.com

jacqueline.chen@amedisys.com

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Net service revenue of $364.3 million compared to $413.0 million in 2010, a decrease of $48.7 million or 11.8%. Same store agencies decreased $40.5 million, $16.2 million of the decrease related to agencies closed or consolidated during 2010 offset by $8.0 million in revenue related to start-up and acquisition agencies.

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Net income attributable to Amedisys, Inc. of $15.3 million compared to $36.6 million in 2010, a decrease of $21.4 or 58.3%.

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Diluted earnings per share of $0.53 compared to $1.29 per diluted share in 2010, a decrease of 58.9%. The weighted average number of diluted shares outstanding increased to approximately 28.9 million compared to 28.4 million in 2010.

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Earnings before interest, taxes, depreciation and amortization (“EBITDA”) of $36.8 million compared to $70.7 million in 2010, a decrease of 48.0%.

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After adding back $4.4 million ($2.7 million, net of income tax) or $0.09 per diluted share in certain items*, the following would have been our adjusted results:

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Net income attributable to Amedisys, Inc. of $18.0 million compared to $36.6 million in 2010, a decrease of 51.0%.

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Diluted earnings per share of $0.62 compared to $1.29 per diluted share in 2010, a decrease 51.9%.

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EBITDA of $41.2 million compared to $70.7 million in 2010, a decrease of 41.7%.

*

See footnote 2 on page 7 for explanation of these certain items.

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Net service revenue is anticipated to be in the range of $1.600 billion to $1.650 billion.

•

Diluted earnings per share is expected to be in the range of $3.00 to $3.30 based on an estimated 29.3 million shares outstanding.

Current assets:

Cash and cash equivalents

Patient accounts receivable, net of allowance for doubtful accounts of $19,125 and $20,977

Prepaid expenses

Other current assets

Total current assets

Property and equipment, net of accumulated depreciation of $81,300 and $78,074

Goodwill

Intangible assets, net of accumulated amortization of $18,280 and $17,135

Other assets, net

Total assets

Current liabilities:

Accounts payable

Payroll and employee benefits

Accrued expenses

Current portion of long-term obligations

Current portion of deferred income taxes

Total current liabilities

Long-term obligations, less current portion

Deferred income taxes

Other long-term obligations

Total liabilities

Commitments and Contingencies

Equity:

Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued or outstanding

Common stock, $0.001 par value, 60,000,000 shares authorized; 30,084,676 and 29,867,701 shares issued; and 29,445,137 and 29,232,807 shares outstanding

Additional paid-in capital

Treasury stock at cost, 639,539 and 634,894 shares of common stock

Accumulated other comprehensive income

Retained earnings

Total Amedisys, Inc. stockholders’ equity

Noncontrolling interests

Total equity

Total liabilities and equity

Net service revenue

Cost of service, excluding depreciation and amortization

General and administrative expenses:

Salaries and benefits

Non-cash compensation

Other

Provision for doubtful accounts

Depreciation and amortization

Operating expenses

Operating income

Other (expense) income:

Interest income

Interest expense

Equity in earnings from unconsolidated joint ventures

Miscellaneous, net

Total other expense, net

Income before income taxes

Income tax expense

Net income

Net income attributable to noncontrolling interests

Net income attributable to Amedisys, Inc.

Net income per share attributable to Amedisys, Inc. common stockholders:

Basic

Diluted

Weighted average shares outstanding:

Basic

Diluted

Net cash provided by operating activities

Net cash used in investing activities

Net cash used in financing activities

Net increase in cash and cash equivalents

Cash and cash equivalents at beginning of period

Cash and cash equivalents at end of period

Financial Information (in millions):

Episodic-based revenue

Nonepisodic-based revenue

Net service revenue

Same store episodic-based revenue growth (2)

Cost of service

Gross margin

Other operating expenses

Operating income

Key Statistical Data:

Admissions:

Episodic-based

Nonepisodic-based

Total admissions

Same store episodic-based admission growth (2)

Recertifications:

Episodic-based

Nonepisodic-based

Total recertifications

Same store episodic-based recertification growth (2)

Completed episodes

Visits:

Episodic-based

Nonepisodic-based

Total visits

Cost per visit

Average episodic-based revenue per completed episode (3)

Episodic-based visits per completed episode (4)

(1)

Agencies for the prior period which are not considered same store agencies (i.e. agencies closed or consolidated in current or prior period or unopened startups).

(2)

Same store episodic-based revenue, admissions or recertifications growth is the percent increase (decrease) in our same store episodic-based revenue, admissions or recertifications for the period as a percent of the same store episodic-based revenue, admissions or recertifications of the prior period.

(3)

Average episodic-based revenue per completed episode is the average episodic-based revenue earned for each episodic-based completed episode of care.

(4)

Episodic-based visits per completed episode is the home health episodic-based visits on completed episodes divided by the home health episodic-based episodes completed during the period.

Financial Information (in millions):

Medicare revenue

Non-Medicare revenue

Net service revenue

Same store Medicare revenue growth (2)

Cost of service

Gross margin

Other operating expenses

Operating income

Key Statistical Data:

Hospice admits

Hospice days

Average daily census

Revenue per day

Cost of service per day

Average length of stay

(1)

Agencies for the prior period which are not considered same store agencies (i.e. agencies closed or consolidated in current or prior period or unopened startups).

(2)

Same Store Medicare revenue growth is the percent increase in our same store Medicare revenue for the period as a percent of the same store Medicare revenue of the prior period.

Key Statistical Data:

General

Number of home health agencies

Number of hospice agencies

Number of agencies acquired (1)

Number of agencies opened as start-up locations (1)

Days revenue outstanding, net (2)

(1)

Includes both home health and hospice agencies.

(2)

Our calculation of days revenue outstanding, net at March 31, 2011 and 2010 is derived by dividing our ending net patient accounts receivable (i.e. net of estimated revenue adjustments and allowance for doubtful accounts) by our average daily net patient revenue for the three-month period ended March 31, 2011 and 2010, respectively.

Net income attributable to Amedisys, Inc.

Add:

Provision for income taxes

Interest expense, net

Depreciation and amortization

EBITDA (1)

Add:

Certain items (2)

Adjusted EBITDA (3)

Net income attributable to Amedisys, Inc.

Add:

Certain items (2)

Adjusted net income attributable to Amedisys, Inc. (4)

Net income attributable to Amedisys, Inc. common stockholders - diluted

Add:

Certain items (2)

Adjusted net income attributable to Amedisys, Inc. common stockholders - diluted (5)

(1)

EBITDA is defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense, and depreciation and amortization. EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

(2)

During the three-month period March 31, 2011, we incurred certain costs of $3.3 million ($2.0 million, net of tax or $0.07 per diluted share) associated with the realignment of operations, acquisition costs and legal expenses related to the United States Senate Committee on Finance inquiry and SEC and DOJ investigation. We also incurred costs associated with our agency closings/consolidations we announced in 2010 of $1.1 million ($0.7 million net of tax or $0.02 per diluted share).

(3)

Adjusted EBITDA is defined as net income attributable to Amedisys, Inc. before provision for income taxes, net interest expense, depreciation and amortization plus certain items as described in footnote 2. Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted EBITDA may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.

(4)

Adjusted net income attributable to Amedisys, Inc. is defined as net income attributable to Amedisys, Inc. plus certain items as described in footnote 2. Adjusted net income attributable to Amedisys, Inc. should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators of operating performance. This calculation of adjusted net income attributable to Amedisys, Inc. may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP measure in the same manner.

(5)

Adjusted diluted earnings per share is defined as diluted earnings per share plus the earnings per share effect of certain items as described in footnote 2. Adjusted diluted earnings per share should not be considered as an alternative to, or more meaningful than, income before income taxes, cash flow from operating activities, or other traditional indicators or operating performance. This calculation of adjusted diluted earnings per share may not be comparable to a similarly titled measure reported by other companies, since not all companies calculate this non-GAAP financial measure in the same manner.