Addus HomeCare to Acquire JourneyCare Operations for USD 85m.
MANews-(C)2009-2022
Texas-based home care services company Addus HomeCare Corp. (NASDAQ: ADUS) has agreed to acquire substantially all the assets of Illinois-based hospice care provider JourneyCare, for an anticipated purchase price of approximately USD 85m, the company said.
Based in Glenview, Illinois, JourneyCare serves an average daily adult census of approximately 750 patients in a surrounding 13 county territory.
The company adds a significant hospice presence in Illinois with annual revenues of approximately USD 55m.
Addus will fund the acquisition through a combination of cash on hand and the company's revolving credit facility.
Bass Berry Sims, PLLC served as legal counsel to Addus. JourneyCare was...
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