MARIETTA, GEORGIA. Matria Healthcare, Inc. (NASDAQ:MATR) announced today that it is engaged in ongoing negotiations related to the pursuit of strategic initiatives, including a possible sale of the Company. The Company has engaged The Maren Group, LLC to act as its financial advisor in connection with these strategic initiatives.

The Company can make no assurance that these negotiations will result in a definitive transaction and the Company does not intend to disclose developments in connection with this process unless and until a definitive transaction is approved. Due to the advanced stage of these initiatives, the Company will not release its guidance for calendar year 2008 on January 17, 2008, as previously announced.

Contact: Sean McDevitt 917-710-8200