Addus HomeCare Corporation announced that it has acquired Tennessee Quality Care in Parsons, Tennessee for $106 million.
Formerly owned by American Health Partners, Tennessee Quality Care is a home health, hospice and private duty nursing provider in Tennessee. Tennessee Quality Care serves an average daily census of about 1,800 patients through 17 locations. According to the press release, Tennessee Quality Care has approximately $40 million in annualized revenues.
Addus HomeCare is a provider of home care services that primarily include personal care services that assist with activities of daily living as well as hospice and home health services. Addus HomeCare provides home care services to approximately 45,500 consumers through 206 locations across 22 states.
Addus expects to close the transaction in the third quarter of 2023 and will fund the acquisition through a combination of cash on hand and the company’s revolving credit facility.
According to data captured in the LevinPro HC database, this transaction represents Addus HomeCare’s first acquisition of 2023. The company announced two deals during 2022 with the additions of JourneyCare for $85 million in January 2022 and Apple Home Healthcare for $17.7 million in October 2022.
