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Addus HomeCare Moves into New Mexico Market
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... Read More »
New Buyers Move in to Home Health & Hospice
The Home Health & Hospice sector is poised for big deals in 2018. As the healthcare industry shifts inexorably toward value-based reimbursement models, this sector has become the “go-to” care protocol to help drive down costs and to keep patients out of institutions. However, the pressures that existed in 2017 are still present in 2018, and even amplified now. Mark Kulik, managing director at The Braff Group, recently gave us his view of the market. Not only will the rate of M&A activity accelerate, new buyers will enter the market. “Ten years ago, people stayed in their lane. Today, we’re going out to a wider range of buyers, such as long-term care and... Read More »
Stat of the Week: Healthcare M&A Spending up 18% in 2017
The year hasn’t ended, and there are still two weeks to go in the fourth quarter of 2017. The holidays are already under way, with more on the horizon. Before we get too busy, here’s a quick look at where things stand in mid-December. Total healthcare mergers and acquisitions reached 1,467 deals as of December 14. That’s only 7% lower than the combined total for all of 2016, at 1,574 deals. Spending on these transactions is already higher. This year’s dollar volume currently stands at approximately $303.9 billion, up 18% compared with last year’s total of $256.7 billion. Much of the credit for the spending rise goes to the largest single transaction announced... Read More »Deal of the Week: Almost Family/LHC Group
The Home Health & Hospice sector is gearing up for a busy 2018, compared with the sluggish performance turned so far in 2017. Two leading companies, LHC Group (NASDAQ: LHCG) and Almost Family (NASDAQ: AFAM) announced a “merger of equals” on November 16. That transaction followed third-quarter earnings calls from Amedysis (NASDAQ: AMED) and Brookdale Senior Living (NYSE: BKD) with each CEO discussing aggressive moves into the hospice sector. Bring it on! M&A activity in the Home Health & Hospice sector has been slow, to say the least, throughout 2017. Prior to the LHC/Almost Family announcement, just 41 deals were reported through mid-November, with a meager $20.9 million in... Read More »
Home Health Deals Still Sluggish in Q3:17
The Home Health & Hospice sector has been buffeted by headwinds in 2017. Besides the ongoing labor shortage and federal fraud investigations, the President’s recently signed executive orders affecting cost-sharing reductions for families and individuals earning less than 400% of the federal poverty level could curtail use of home health agencies. Deal volume remained depressed in the third quarter, at 10 transactions, which represents 20% of the 51 deals announced in the past 12 months. Compared with the same period a year earlier, deal volume was down 17%. Source: HealthCareMandA.com, October 2017 None of the deals announced disclosed financial terms, just as in the second quarter.... Read More »Schedule a demo
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