Summary
- Addus HomeCare said it will acquire Hospice Partners of America for $130 million in cash.
- Hospice Partners operates a network of hospice and palliative care facilities in multiple U.S. states.
- With the deal ADUS continues to execute its strategy of acquiring firms in existing markets to enhance its integrated delivery model.
- The acquisition also provides an entry point into the large Texas market.
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Quick Take
Addus HomeCare (ADUS) announced it has agreed to acquire Hospice Partners of America for $130 million.
Hospice Partners of America operates as a multi-state hospice and palliative care provider.
ADUS looks to have paid a premium for the deal, which will add to its integrated care delivery model and provide an entry point into the large Texas market.
Target Company
Birmingham, Alabama-based Hospice Partners was founded in 2008 and serves about 1,000 patients daily through 21 locations across Idaho, Kansas, Missouri, Oregon, Texas and Virginia, as well as an annual revenue of about $55 million.
Management is headed by CEO Norma English, who has been with the firm since 2011 and was previously Chief Operating Officer at CareSouth Homecare Professionals.
