Addus HomeCare Corporation announced last week the $29 million acquisition of Armada Skilled Home Health & Hospice in New Mexico.
Armada currently serves an average daily census of approximately 1,100 patients for home health services and 100 patients for hospice care, with primary coverage across Bernalillo County and surrounding counties. It has $23 million in annualized revenue.
This deal expands Addus’ presence in New Mexico, an important market for the company. It is yet another step toward the company’s mission to expand its home health, hospice, and personal care lines in specific regions and states, as it did in Ohio in November when it bought Queen City Hospice for $192 million. Addus expects to close the Armada transaction on or about August 1.
Addus’ payor clients include federal, state and local governmental agencies, managed care organizations, commercial insurers and private individuals. Addus HomeCare currently provides home care services to approximately 44,000 consumers through 208 locations across 22 states.
This is the second-largest home health deal announced in July based on disclosed prices, following the $250 million sale of Contessa Health to Amedisys, Inc.
