Addus HomeCare Corp.’s Q3 2022 Earnings Highlights
Addus HomeCare Corp., a provider of home care services, announced its financial results for the third quarter ended September 30, 2022. Despite staffing and Omicron-related headwinds, the company still reported revenue growth of 11% over the third quarter of 2021. Addus had revenue increases in its home health and hospice segments, demonstrating the strength and resilience of both operations. The Frisco, Texas-based company reported: 11% increase in net revenue from $216.7 million in Q3:21 to $240.5 million in Q3:22.12% increase in gross profit from $67 million (30.9% of net revenue) in Q3:21 to $75.2 million (31.3% of net revenue) in Q3:22.0.9% decrease in net income from $11.6 million... Read More »
The Pennant Group Acquires Kenosha Visiting Nurse Association
The Pennant Group, Inc. has acquired the Kenosha Visiting Nurse Association, Inc. Terms of the deal were not disclosed. The Pennant Group is a holding company of independent operating subsidiaries that provide healthcare services through 95 home health and hospice agencies and 49 senior living communities in Arizona, California, Colorado, Idaho, Iowa, Montana, Nevada, Oklahoma, Oregon, Texas, Utah, Washington, Wisconsin and Wyoming. The Kenosha Visiting Nurse Association provides skilled home health, private duty and community health services in Kenosha, Wisconsin. Pennant continues to pursue opportunities to acquire home health, hospice and senior living businesses throughout the U.S.... Read More »
Option Care Health’s Q3 2022 Earnings Highlights
On Thursday, October 27, 2022, Option Care Health, Inc., the nation’s largest independent provider of home and alternate site infusion services, announced financial results for the third quarter ended September 30, 2022. The Bannockburn, Illinois-based company reported: 14.5% increase in net revenue from $891.9 million in Q3:21 to $1.02 billion in Q3:227.4% increase in gross profit from $203 million (22.8% of net revenue) in Q3:21 to $218 million (21.4% of net revenue) in Q3:229.3% increase in net income from $35.5 million ($0.20 per share) in Q3:21 to $38.8 million ($0.21 per share) in Q3:229.8% increase in adjusted EBITDA from $78 million (8.7% of net revenue) in Q3:21 to $85.6 million... Read More »
Home Health M&A Market Slowed in Q3, But Big Transactions Kept Deal Values High
The first half of 2022 revealed a shift away from the pandemic-fueled activity in the Home Health & Hospice (HH&H) M&A market seen during 2020 and 2021. This trend has carried through to the third quarter of 2022, which included 25 deals, a 43% drop from 2021’s third quarter when there were 44 announced transactions in the sector. Through the end of the third quarter this year, there have been 83 transactions announced in the HH&H sector, which covers the categories of home health, home hospice, palliative care, durable medical equipment, respiratory home care, geriatric care management, personal care, home aides and multi-service providers. Deals this year have fallen 24%... Read More »
Walgreens Takes Full Ownership of CareCentrix
A year ago in October, Walgreens Boots Alliance, Inc. (Walgreens) paid $330 million for a 55% stake in CareCentrix, which connects patients with at-home care through its extensive national network of providers. The majority-stake acquisition helped Walgreen push deeper into healthcare. The deal also came with the option for Walgreens to purchase the remaining stake at a later date. Just this past week, Walgreens followed through. The healthcare and retail giant purchased the remaining 45% stake in CareCentrix for approximately $392 million, which is based on the exit multiple agreed to at the time of Walgreens’ initial majority investment announcement. In Walgreens’ fiscal year... Read More »Schedule a demo
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