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FOR IMMEDIATE RELEASE
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CONTACTS:
Robert M. Kaufman
Chief Executive Officer
(781)433-1119
Robert P. Jones/Jill Ruja
David Sassoon - Media Contact
Morgen-Walke Associates
(212)850-5600
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CAREMATRIX CORPORATION PROMOTES
ROBERT KAUFMAN AND ANDREW GOSMAN
Needham, MA, August 4,1997 - CareMatrix Corporation,(AMEX: CMD), today announced the appointment of President Robert M. Kaufman to the position of Chief Executive Officer of the Company and Executive Vice President Andrew D. Gosman to the position of President.
Abraham Gosman, Chairman, noted, "I am very pleased to promote Bob and Andrew to their new positions, reflecting their contributions to the growth and current strength of our company in its short period of existence. They, along with the other members of our senior management form, what I believe, is one of the strongest teams in the industry. We have met all of our targets year to date exceeding consensus estimates for both revenues and earnings."
Separately, CareMatrix announced that, subject to market and other conditions, it will sell $100 million of convertible debentures.
CareMatrix Corporation is a leading provider of senior housing services including assisted living, supportive independent living and specialized programs for people with Alzheimer's disease.
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