Exhibit 99.1

CONTACT:

R. Dirk Allison

Senior Vice President and Chief Financial Officer

(214) 922-9711

ODYSSEY HEALTHCARE REPORTS

SECOND QUARTER 2010 RESULTS

DALLAS, TEXAS (July 28, 2010) — Odyssey HealthCare, Inc. (NASDAQ: ODSY), one of the largest providers of hospice care in the United States, today announced financial results for the three and six months ended June 30, 2010.

On May 24, 2010, Odyssey HealthCare and Gentiva Health Services, Inc. (NASDAQ: GTIV) announced that they had entered into a definitive merger agreement whereby Gentiva will acquire Odyssey in an all cash merger transaction for a price per share of Odyssey common stock of $27.00 in cash, without interest. The transaction is expected to close during the month of August, subject to the satisfaction of standard closing conditions, including approval by Odyssey’s stockholders at a special meeting to be held on August 9, 2010.

For the second quarter of 2010, net patient service revenue from continuing operations increased 3.5% to $176.2 million, compared with $170.3 million for the second quarter of 2009. The Company’s net income attributable to Odyssey stockholders for the second quarter of 2010 was $14.0 million, or $0.41 per diluted share, as compared with $8.5 million, or $0.26 per diluted share, for the second quarter of 2009. The Company’s EBITDA from continuing operations for the second quarter of 2010 was $26.3 million, compared with $17.4 million for the second quarter of 2009.

For the six months ended June 30, 2010, net patient service revenue from continuing operations was $347.7 million, compared with $337.8 million for the same six-month period in 2009. The Company’s net income attributable to Odyssey stockholders for the six months ended June 30, 2010, was $27.4 million, or $0.80 per diluted share, as compared with $17.2 million, or $0.52 per diluted share, for the same period of 2009. The Company’s EBITDA from continuing operations for the first six months of 2010 was $51.4 million as compared with $34.5 million for the first six months of 2009.

Conference Call

Due to the aforementioned pending merger, Odyssey will not be hosting a conference call this quarter.

Based in Dallas, Texas, Odyssey is one of the largest providers of hospice care in the country in terms of both average daily patient census and number of locations. Odyssey seeks to improve the quality of life of terminally ill patients and their families by providing care directed at managing pain and other discomforting symptoms and by addressing the psychosocial and spiritual needs of patients and their families.

Earnings before interest, taxes, depreciation and amortization (“EBITDA”) is a non-GAAP financial measure included in this press release and is reconciled to the comparable GAAP financial measure in the tables attached to this press release.

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

Additional Information

Odyssey HealthCare, Inc. (the “Company”) filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) on July 9, 2010 and intends to file other relevant materials in connection with the acquisition in due course. The definitive proxy statement has been sent or given to the stockholders of the Company. Before making any voting or investment decision with respect to the acquisition, investors and stockholders of the Company are urged to read the proxy statement and the other relevant materials because they contain important information about the acquisition. The proxy statement and other relevant materials, and any other documents filed by the Company with the SEC, may be obtained free of charge from the Company by directing a request to the Company’s Investor Relations Department at toll free phone number 888-922-9711, email address InvestorRelations@odsyhealth.com or through the Company Web site www.odsyhealth.com under “Investor Relations — InfoRequest.”

Participants in the Solicitation

The Company and its directors and executive officers may be deemed to be participants in the solicitation of proxies from the Company’s stockholders in connection with the merger. Information about the Company’s directors and executive officers is set forth in the Company’s proxy statement on Schedule 14A filed with the SEC on April 5, 2010 and the Company’s Annual Report on Form 10-K filed on March 10, 2010. Additional information regarding the interests of participants in the solicitation of proxies in connection with the merger is included in the Company’s proxy statement.

Forward-looking Statements

Certain statements contained in this press release are forward-looking statements within the meaning of the federal securities laws. Such forward-looking statements are based on management’s current expectations and are subject to known and unknown risks, uncertainties and assumptions which may cause the forward-looking events and circumstances discussed in this press release to differ materially from those anticipated or implied by the forward-looking statements. The Company faces additional risks, uncertainties and assumptions associated with the Agreement and Plan of Merger, dated as of May 23, 2010, among the Company, Gentiva Health Services, Inc. and GTO Acquisition Corp. (attached as Exhibit 2.1 to the Company’s Current Report on Form 8-K as filed with the Securities and Exchange Commission on May 24, 2010). Such risks, uncertainties and assumptions include, but are not limited to, the ability to obtain regulatory approval for the transaction; the expected timing of the completion of the transaction; management plans regarding the transaction; the inability to complete the transaction due to the failure to satisfy the conditions required to complete the transaction; the risk that the businesses of the Company and Gentiva will not be integrated successfully, or will take longer than anticipated; the risk that expected cost savings from the transaction will not be achieved or unexpected costs will be incurred; any statements of the plan, strategies and objectives of management for future operations; the risk that disruptions from the transaction will harm relationships with employees, referral sources, patients and suppliers; and the outcome of litigation and regulatory proceedings to which we may be a party. Many of these factors are beyond the ability of the Company to control or predict. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements, which reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any of the forward-looking statements or publicly announce any updates or revisions to any of the forward-looking statements contained in this press release to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions, circumstances or assumptions underlying such statements.

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

ODYSSEY HEALTHCARE, INC. AND SUBSIDIARIES

UNAUDITED SELECTED OPERATING DATA

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
Continuing Operations:(1)
Admissions		12,469			12,531			25,213			25,233
Discharges		12,245			12,159			24,937			24,884
Average daily census		12,588			12,268			12,456			12,227
Discharge average length of stay		80.4			78.8			83.5			81.0
Gross revenue per patient day	$	158.78		$	155.56		$	159.00		$	156.78
Medicare cap as % of gross revenue		0.9	%		(0.6	%)		0.8	%		0.1	%
Net revenue per patient day	$	153.84		$	152.54		$	154.23		$	152.65
Operating expense per patient day	$	132.38		$	138.59		$	133.01		$	138.42
Adjusted operating expense per patient day(2)	$	130.89		$	136.98		$	131.45		$	137.07
Bad debt expense as % of net revenue		0.5	%		1.5	%		0.7	%		1.4	%

Same-Facility:(3)
Admissions		12,446			12,531			25,156			25,233
Average daily census		12,538			12,268			12,404			12,227
Average length of stay		80.2			78.8			83.4			81.0

(1)	Continuing operations excludes the operations of hospices that the Company classifies as discontinued operations.

(2)

Adjusted operating expense per patient day for the three months ended June 30, 2010, excludes depreciation and amortization expenses of $1.46 and $0.03 per patient day of care, respectively. Adjusted operating expense per patient day for the three months ended June 30, 2009, excludes depreciation and amortization expenses of $1.55 and $0.06 per patient day of care, respectively. Adjusted operating expense per patient day for the six months ended June 30, 2010, excludes depreciation and amortization expenses of $1.52 and $0.04 per patient day of care, respectively. Adjusted operating expense per patient day for the six months ended June 30, 2009, excludes depreciation and amortization expenses of $1.29 and $0.06 per patient day of care, respectively.

(3)	Same-facility information includes Odyssey hospice programs that have been in operation for the entire period of each period presented and Medicare certified for at least 12 months.

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

ODYSSEY HEALTHCARE, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF INCOME

(in thousands, except per share amounts)

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
Net patient service revenue	$	176,227		$	170,295		$	347,723		$	337,827
Operating expenses:
Direct hospice care		98,032			99,444			194,433			197,899
General and administrative – hospice care		31,913			34,131			64,607			67,931
General and administrative – support center		19,110			16,841			34,911			32,646
Provision for uncollectible accounts		877			2,506			2,410			4,869
Depreciation		1,673			1,731			3,418			2,860
Amortization		38			70			96			141
Income from continuing operations before other income (expense)		24,584			15,572			47,848			31,481

Other income (expense):
Interest income		103			121			170			287
Interest expense		(1,434	)		(1,606	)		(2,872	)		(3,491	)
		(1,331	)		(1,485	)		(2,702	)		(3,204	)
Income from continuing operations before provision for income taxes		23,253			14,087			45,146			28,277
Provision for income taxes		8,975			5,065			17,090			10,347
Income from continuing operations		14,278			9,022			28,056			17,930
Loss from discontinued operations, net of income taxes		(71	)		(422	)		(197	)		(475	)
Net income		14,207			8,600			27,859			17,455
Less: Net income attributable to noncontrolling interests		229			81			482			217
Net income attributable to Odyssey stockholders	$	13,978		$	8,519		$	27,377		$	17,238

Income (loss) per common share:
Basic:
Continuing operations attributable to Odyssey stockholders	$	0.42		$	0.27		$	0.82		$	0.54
Discontinued operations attributable to Odyssey stockholders		–			(0.01	)		–			(0.02	)
Net income attributable to Odyssey stockholders	$	0.42		$	0.26		$	0.82		$	0.52
Diluted:
Continuing operations attributable to Odyssey stockholders	$	0.41		$	0.27		$	0.81		$	0.54
Discontinued operations attributable to Odyssey stockholders		–			(0.01	)		(0.01	)		(0.02	)
Net income attributable to Odyssey stockholders	$	0.41		$	0.26		$	0.80		$	0.52

Weighted average shares outstanding:
Basic		33,624			32,905			33,485			32,853
Diluted		34,465			33,059			34,114			33,020

Amounts attributable to Odyssey stockholders:
Income from continuing operations, net of income taxes	$	14,049		$	8,941		$	27,574		$	17,713
Loss from discontinued operations, net of income taxes		(71	)		(422	)		(197	)		(475	)
Net income	$	13,978		$	8,519		$	27,377		$	17,238

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

ODYSSEY HEALTHCARE, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED BALANCE SHEETS

(in thousands, except share amounts)

	June 30, 2010			Dec. 31, 2009
ASSETS
Current assets:
Cash and cash equivalents	$	164,501		$	128,632
Accounts receivable from patient services, net of allowance for uncollectible accounts of $11,903 and $12,462 at June 30, 2010, and December 31, 2009, respectively		102,984			110,593
Income taxes receivable		4,023			352
Deferred tax assets		10,219			10,235
Prepaid expenses and other current assets		5,770			6,017
Total current assets		287,497			255,829
Property and equipment, net of accumulated depreciation		19,064			20,700
Deferred loan costs, net		2,669			3,033
Long-term investments		–			12,425
Intangibles, net of accumulated amortization		19,155			19,251
Goodwill		192,390			191,766
Total assets	$	520,775		$	503,004

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	3,586		$	4,016
Accrued compensation		27,675			31,729
Accrued nursing home costs		17,347			18,144
Accrued Medicare cap contractual adjustments		13,690			18,798
Income taxes payable		–			1,504
Other accrued expenses		44,681			42,683
Current maturities of long-term debt		33,340			38,675
Total current liabilities		140,319			155,549
Long-term debt, less current maturities		77,128			76,527
Deferred tax liability		15,261			15,171
Other liabilities		2,687			4,597
Commitments and contingencies		–			–
Equity:
Odyssey stockholders’ equity:
Common stock, $0.001 par value: 75,000,000 shares authorized, 39,032,364 and 38,549,833 shares issued at June 30, 2010, and December 31, 2009, respectively		39			39
Additional paid-in capital		131,849			125,716
Retained earnings		221,808			194,431
Accumulated other comprehensive loss, net of income taxes		(763	)		(1,481	)
Treasury stock, at cost, 5,347,072 shares held at June 30, 2010 and December 31, 2009		(69,954	)		(69,954	)
Total Odyssey stockholders’ equity		282,979			248,751
Noncontrolling interests		2,401			2,409
Total equity		285,380			251,160
Total liabilities and equity	$	520,775		$	503,004

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

ODYSSEY HEALTHCARE, INC. AND SUBSIDIARIES

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

	Six Months Ended June 30,
	2010			2009
Operating Activities:
Net income attributable to Odyssey stockholders	$	27,377		$	17,238
Adjustments to reconcile net income to net cash provided by operating activities and discontinued operations:
Loss from discontinued operations, net of income taxes		197			475
Net income attributable to noncontrolling interests		482			217
Loss on disposal of property and equipment		3			–
Depreciation and amortization		3,514			3,001
Amortization of deferred loan costs		364			364
Share-based compensation expense		3,357			2,455
Deferred income taxes		(321	)		3,624
Provision for uncollectible accounts		2,410			4,869
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable from patient services		5,193			(3,414	)
Prepaid expenses and other current assets		(3,590	)		692
Accounts payable, accrued nursing home costs, accrued Medicare cap contractual adjustments and other accrued expenses		(13,421	)		(7,991	)
Net cash provided by operating activities and discontinued operations		25,565			21,530

Investing Activities:
Cash paid for acquisitions, net of cash acquired		(566	)		(205	)
Sales of auction rate securities		13,000			–
Purchases of property and equipment, net		(1,804	)		(3,351	)
Net cash provided by (used in) investing activities		10,630			(3,556	)

Financing Activities:
Proceeds from exercise of stock options		2,460			43
Cash paid for partnership distributions		(490	)		(148	)
Tax benefit (expense) from share-based compensation		2,438			(8	)
Payments on credit facility		(4,734	)		(3,197	)
Net cash used in financing activities		(326	)		(3,310	)

Net increase in cash and cash equivalents		35,869			14,664
Cash and cash equivalents, beginning of period		128,632			56,043
Cash and cash equivalents, end of period	$	164,501		$	70,707

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ODSY Announces Second Quarter 2010 Results

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July 28, 2010

ODYSSEY HEALTHCARE, INC. AND SUBSIDIARIES

UNAUDITED EBITDA RECONCILIATION

(in thousands)

This press release includes the non-GAAP financial measure of EBITDA. The following table reconciles this non-GAAP financial measure to net income attributable to Odyssey stockholders, which Odyssey believes is the most comparable GAAP financial measure:

	Three Months Ended June 30,						Six Months Ended June 30,
	2010			2009			2010			2009
Net income attributable to Odyssey stockholders	$	13,978		$	8,519		$	27,377		$	17,238
Add:
Net income attributable to noncontrolling interests		229			81			482			217
Loss from discontinued operations, net of income taxes		71			422			197			475
Provision for income taxes		8,975			5,065			17,090			10,347
Interest expense		1,434			1,606			2,872			3,491
Interest income		(103	)		(121	)		(170	)		(287	)
Depreciation		1,673			1,731			3,418			2,860
Amortization		38			70			96			141
EBITDA	$	26,295		$	17,373		$	51,362		$	34,482

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ODYSSEY HEALTHCARE INC 8-K