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EXHIBIT 99.1
_________, ___________, 1997 - 9:00 a.m. EST
Just Like Home, Inc. and Community Assisted Living Centers, Inc. Sign Merger
Agreement
Bradenton, Florida -- ____________, 1997 -- Just Like Home, Inc. ("JLH")
announced today that it had signed a merger agreement with Community Assisted
Living Centers, Inc. ("Community") of Nokomis, Florida. Community is a privately
held assisted living development and management company. Community presently
operates a 68 unit assisted living facility in Bradenton, Florida, and has five
additional facilities in the early stages of development. Under the merger
agreement, JLH, as the surviving company in the merger, will acquire all of the
assets and operations of Community in return for the issuance of shares of JLH
common stock to existing Community shareholders. The merger agreement is subject
to a shareholder vote of Community and a thirty day acquisition audit by
Community.
Commenting on the transaction, Xxxxxxx X. Xxxxxx, M.D., Chairman and Chief
Executive Officer of JLH was quoted as saying: "Just Like Home is a pioneer in
the operation and development of assisted living facilities that create a home
like environment for their residents. We believe the merger with Community, a
company which shares our philosophy, will benefit both organizations, their
respective shareholders and move us to a new level accomplishment."
Xxxx X. Xxxxxxxx, President and Chief Executive Officer of Community, remarked
that: "We are very pleased with the opportunities which this transaction
presents. We believe that our strong management team and pragmatic approach to
development, coupled with Just Like Home's existing operations and management,
will allow our two companies to achieve more as a combined unit than would have
been possible on an individual basis."
Once the merger becomes effective, Xx. Xxxxxxxx will serve as President and
Chief Executive Officer of JLH, while Xx. Xxxxxx will become co-Chairman along
with Xxxxxx X. Xxxxx of St. Louis, Missouri.
Just Like Home specializes in development and management of residential-style
assisted living communities, and currently provides these services in eight
facilities throughout the State of Florida.
