Addus HomeCare (NASDAQ: ADUS) has boosted its presence in the southwestern United States with its $40 million acquisition of Ambercare Corporation, a privately held home care company based in Albuquerque, New Mexico.
Ambercare provides personal care, hospice and home health services to roughly 2,600 individuals through its 15 locations in New Mexico. It generated revenue of approximately $57 million in 2017.
Addus HomeCare provides home- and community-based services to older adults and younger disabled persons. On a trailing 12-month basis it generated revenue of $416.3 million, EBITDA of $34.1 million and net income of $17.8 million.
The acquisition of Ambercare closely follows Addus’ acquisition of Options Home Care in 2017. The deal is expected to close in the second quarter of 2018.