Addus HomeCare (NASDAQ: ADUS) has gone all-in on building out its care continuum. Launched as a personal care provider, the company in 2016 began offering hospice and home health to enhance its value proposition for payers by further reducing hospitalizations and emergency department visits. “If you realize that our average patients are in their 70s, […]
Acquisitions will be crucial to Addus HomeCare Corp.’s (NASDAQ: ADUS) 2022 objectives as COVID headwinds start to abate. The company expects to gain momentum on expansion as the year progresses. Acquisitions remain an important part of the company’s growth strategy as it seeks to co-locate each of its three business lines in the markets it […]
Addus HomeCare Corporation (NASDAQ: ADUS) announced Wednesday that it has named a new EVP and chief development officer in Cliff Blessing, who had previously served as the EVP of corporate development for Encompass Health’s (NYSE: EHC) home health and hospice business. The move appears to reflect an aggressive M&A strategy for Addus, which was highlighted […]
Addus HomeCare Corp (NASDAQ: ADUS) is gaining traction in its integration of JourneyCare as it works to build a larger continuum of coordinated care. Addus completed its $85 million acquisition of Illinois-based nonprofit JourneyCare last month. Serving 750 patients daily in 13 counties, the organization is among the largest hospice providers in that state. The […]
This will be another active year for acquisitions at Addus HomeCare Corp (NASDAQ: ADUS), as the company seeks to build out its care continuum from personal care to home health and hospice. A goal for Addus is greater coordination between its three business lines to allow for timely and smooth transitions of care, according to […]
As Addus Homecare (NASDAQ: ADUS) begins integration of its recent $85 million JourneyCare Hospice acquisition, the company is strategizing on how to absorb wage increases accompanying the ongoing labor shortage. The company’s clinical care segment, which includes home health and hospice, is seeing the most significant wage pressures among its business lines, Chairman and CEO […]
Addus HomeCare (NASDAQ: ADUS) has completed its $85 million acquisition of Illinois-based nonprofit hospice provider JourneyCare Inc. As a result of the deal JourneyCare has transitioned to for-profit status. Addus financed the deal, via cash on hand and the company’s revolving credit facility. The company in 2021 opened a $600 million revolving line of credit […]
The hospice merger and acquisitions market has been running hot, with activity showing no signs of cooling as 2022 kicks off. Even so, intensifying regulatory pressure could lead a larger contingent of smaller providers to sell, further stimulating the market. M&A activity in the home health and hospice spaces outpaced other health care service sectors […]
Industry consolidation has been robust in the hospice space, with deal volume and valuations outpacing other health care industry sectors. Most of these transactions involve one for-profit company buying another. However, more instances are cropping up in which a for-profit agency purchases a nonprofit hospice. While individual nonprofits have grown in recent years, in aggregate […]
Addus HomeCare (NASDAQ: ADUS) has purchased JourneyCare Inc., for an anticipated sale price of $85 million. JourneyCare, a nonprofit, is one of the largest hospice providers in Illinois, serving 750 patients daily in 13 counties. Addus had indicated in 2021 earnings calls that the company would lean its M&A activity towards personal care and home […]
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