Business
Addus HomeCare Announces Acquisition of A Plus Health Care
Montana Business Produced 2019 Revenue of $10.4 Million FRISCO, Texas, July 1, 2020 /PRNewswire/ -- Addus HomeCare Corporation (NASDAQ: ADUS), a provider of
About this update from Addus Homecare Corporation
[{"type":"text","content":"Montana Business Produced 2019 Revenue of $10.4 Million\n\n\nFRISCO, Texas, July 1, 2020 /PRNewswire/ -- Addus HomeCare Corporation (NASDAQ: ADUS), a provider of comprehensive home care services, today announced the purchase of A Plus Health Care, Inc. Based in Kalispell, Montana, A Plus Health Care provides home care services, including personal care, private duty nursing, care management and medical staffing, to approximately 1,200 clients through over 650 employees in seven office locations. Addus closed the transaction on July 1, 2020, with funding provided by cash on hand.\nDirk Allison, President and Chief Executive Officer of Addus, commented, \"We are very pleased to complete the acquisition of A Plus Health Care, an established provider of personal care services across the state of Montana. This acquisition represents another significant step forward in our strategy to acquire providers that strengthen our presence in our current markets. With the ongoing issues created by the COVID-19 pandemic, Addus serves a critical role in providing personal care services that allow individuals to avoid the risks found in settings outside of their homes. With a strong team and excellent reputation, the addition of A Plus Health Care will enhance our ability to serve more consumers in Montana. We look forward to a smooth integration into our existing Montana operations. \n\"A Plus Health Care had annual revenue of $10.4 million in 2019, and we expect this transaction to be immediately accretive to our 2020 financial results. Looking ahead, in addition to our organic growth opportunities, we have a solid pipeline of potential acquisitions, although during these uncertain times, we continue to evaluate additional acquisitions with appropriate caution and diligence. We remain focused on expanding our market presence and enhancing our home care services offering as we work to reach more consumers and create greater value for our shareholders,\" added Mr. Allison.\nForward-Looking StatementsCertain matters discussed in this press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by words such as \"anticipate,\" \"intend,\" \"will,\" \"continue,\" \"expect,\" and similar expressions. These forward-looking statements are...