Addus agrees to buy AccentCare personal-care operations for $275 million

Addus HomeCare ($ADUS) signed a definitive agreement to acquire selected personal-care operations from AccentCare for approximately $275 million, subject to adjustments. The business serves around 13,700 consumers daily across ten states and is expected to add approximately $280 million in annual revenue. Addus plans to finance the transaction with cash and its existing revolving credit facility.

The acquisition would expand its presence in major markets including Texas, Illinois, California and Arizona. It excludes AccentCare’s New York personal-care operation and all of its home-health and hospice businesses. Management expects the purchase to be accretive, but closing remains subject to regulatory approvals and customary conditions. The projected revenue contribution is an annual estimate, not revenue already recognized by Addus.

Sources:

• Addus — definitive agreement