Addus HomeCare Corp acquired Tennessee Quality Care for $106.0 million, a transaction completed in August 2023, structured as all cash.
Tennessee Quality Care operates in Personal care, home health and hospice, is based in Tennessee, had revenue of about approximately $40 million in annualized revenue. Addus acquired Tennessee Quality Care, owned by American Health Partners, for a cash purchase price of $106.0 million. The transaction added approximately $40 million of annualized revenue and gave Addus the ability to provide all three levels of care (personal care, home health and hospice) across Tennessee.
Add an established Tennessee market presence with a reputation for quality care and the ability to offer patient-centric personal care, home health and hospice in a single state.
Established Tennessee provider offering all three levels of care, deepening a state where Addus could cross-sell services.
We believe this acquisition will be an ideal addition for Addus with an established market presence and reputation for quality, compassionate care. We have a shared commitment to provide safe and cost-effective home care services, and we look forward to the opportunity to offer patient-centric personal care, home health and hospice.Dirk Allison, Chairman and CEO, Addus HomeCare
Advisory firms were not disclosed for this transaction.