M&A
confidence high
sentiment positive
materiality 0.85
Addus HomeCare to acquire Gentiva personal care operations for $350M cash
Addus HomeCare Corp
- Deal value ~$350M in cash plus customary adjustments; annualized revenues of acquired operations ~$280M.
- Adds 16,000+ patients/day across Arizona, Arkansas, CA, MO, NC, TN, TX; enters TX and MO as new personal care markets.
- Expected to close after Hart-Scott-Rodino and other regulatory approvals; no financing condition, funded via existing revolver.
- Transaction expected to be accretive; pro-forma leverage ratio below 3x, with rapid delevering from expected cash flow.