With effect from October 1, 2022, Addus HomeCare Corporation, a supplier of home care services, has announced the acquisition of Apple Home Healthcare, LTD. Apple, a Chicago-based company with yearly revenues of about $10 million, services an average of 450 adult patients each day in the 11-county metro area surrounding Chicago. Apple, a company with 25 years of experience, provides home health care services for people recovering from sudden illnesses and surgeries.
“We are pleased to announce the addition of Apple to our expanding operations in the greater Chicago area, one of our largest markets. This acquisition is commensurate with our growth strategy to leverage our strong personal care presence and add clinical services. Together with our recent acquisitions of the operations of Summit Home Health and JourneyCare hospice services in the greater Chicago area, we have expanded our market coverage in both segments of clinical care. We are excited to leverage the strength of our combined operations and support more patients and families in this market.”
“Importantly, Apple shares our mission with a long history of providing high-quality care by promoting the safe and cost-effective administration of home healthcare services. We are continuing to identify similar strategic acquisitions that fit our mission and strategy. We have a proven record of creating value from our acquired operations and extending our market reach in key markets. We have a capital structure that supports our ability to extend this record of growth, and we look forward to the additional opportunities ahead for Addus,”
Dirk Allison, Chairman and Chief Executive Officer of Addus HomeCare Corporation
Addus is anticipated to be immediately accretive to financial results and was funded by a mix of cash on hand and the Company’s revolving credit facility.
