Addus HomeCare Corp acquired Hospice Partners of America for $130.0 million, a transaction completed in October 2019, structured as all cash.
Hospice Partners of America operates in Hospice, is based in Birmingham, Alabama-based; hospice locations across Idaho, Kansas, Missouri, Oregon, Texas and Virginia, had revenue of about approximately $55 million in annualized revenue. Addus acquired Hospice Partners of America, LLC, a Birmingham, Alabama-based hospice provider, for a cash purchase price of $130.0 million, representing $118.4 million of value net of expected tax benefits. Hospice Partners served an average daily census of about 1,000 patients across 21 locations in six states, with roughly $55 million of annualized revenue.
Leverage combined capabilities to develop a national platform for hospice services with a shared mission of quality, compassionate in-home care.
Multi-state hospice platform that advanced Addus's goal of building a national hospice business. Hospice segment
We look forward to Hospice Partners of America's management team and clinical staff joining our Addus family, as we leverage our combined capabilities to develop a national platform for hospice services. Importantly, we share the same mission to provide quality, compassionate healthcare services to more consumers in their homes.Dirk Allison, Chairman and CEO, Addus HomeCare
Advisory firms were not disclosed for this transaction.