Healthcare Finance News December 6, 2024
The goal is to expand coverage in existing markets and expand into new ones, Addus CEO says.
Addus Homecare, a provider of home care services, has completed a $350 million acquisition of the personal care operations of Gentiva, which provides hospice, palliative and personal care services in the seven-state service area of Arizona, Arkansas, California, Missouri, North Carolina, Tennessee and Texas.
Addus funded the acquisition through a combination of cash on hand, representing a portion of the proceeds of the company’s recent public offering of common stock and its existing revolving credit facility.
WHAT’S THE IMPACT
Addus Chairman and CEO Dirk Allison said adding Gentiva’s personal care operations will greatly expand the former’s market coverage in those seven states, particularly...
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