Addus Home Care (NASDAQ: ADUS) is ramping up its position in the home-based services market through the closing of an acquisition of substantially all of the assets of Coordinated Home Health Care, formerly owned by Transition Capital Partners.
The acquisition includes 15 New Mexico-based offices and grows the company’s presence in the state, a goal which company executives say is a place of opportunity based on a transitioning landscape for Medicaid long term care programs.
“We are pleased to complete the purchase of Coordinated Home Health as it substantially expands or footprint in New Mexico, a state which is on the forefront of transitioning its Medicaid long term care programs to managed care,” said Mark Heaney, Addus HomeCare president and CEO. “We are pleased to have the leadership team of Coordinated Home Health Care join us in New Mexico and welcome all the employees of Coordinated Home Health to the Addus team.”
The purchase was previously announced as part of a greater acquisition strategy including the purchase of Medi Home Private Care Division from Medical Services of America, with presence in South Carolina, Tennessee, and Ohio.
Addus sold its home health business line to LHC Group for $20 million in early 2013 but continues to operate home and community based services.
Written by Elizabeth Ecker