Mergers & Acquisitions ·
Addus HomeCare Corporation announced a definitive agreement to acquire the personal care division of AccentCare, Inc.…
ADUSAddus HomeCare Corp
Addus HomeCare Corporation announced a definitive agreement to acquire the personal care division of AccentCare, Inc., excluding operations in New York, for approximately $275 million in cash. The transaction adds an average daily census of roughly 13,700 customers across ten states and is expected to contribute approximately $280 million in annualized revenue, representing a 19% increase to Addus' revenue base. Closing is subject to regulatory approvals, including Hart-Scott-Rodino waiting period expiration, and customary conditions, with funding provided via the company's revolver and cash on hand. The acquisition significantly expands Addus' personal care footprint in Texas, Illinois, California, and Arizona, while also entering Colorado, Georgia, Minnesota, Pennsylvania, Tennessee, and Washington. Addus HomeCare Corporation is a provider of home care services that primarily include personal care services assisting with activities of daily living, as well as hospice and home health services.