Almost Family, Inc. (NASDAQ: AFAM) recently announced that it has entered into an agreement to acquire a Medicare-certified home health agency owned by Caldwell Medical Center of Princeton, Kentucky.
Almost Family will welcome the home health employees of Caldwell Medical Center to its growing organization of home health providers, said William Yarmuth, chairman and CEO of Almost Family, in a statement.
“Working with them, we will build upon an existing foundation of high quality caregivers and the strong tradition of commitment to patients with the breadth of expertise we have accumulated throughout our over 240 locations and 30 plus years of Medicare home health operating experience,” Yarmuth said.
Almost Family and its subsidiaries operate over 240 branch locations in 14 U.S. states, including Florida, Ohio, Tennessee, Kentucky, Connecticut, New Jersey, Massachusetts, Georgia, Pennsylvania, Indiana, Missouri, Illinois, Mississippi and Alabama.
The agency to be acquired generated approximately $1.3 million of revenue in 2013. Terms of the transaction, however, were not disclosed.
Following the transaction, Almost Family says it will continue to seek additional opportunities for the acquisition of home health and personal care agencies that fit the company’s geographic, service line, value and quality criteria.
The transaction with Caldwell is expected to close before the end of April 2014 and is subject to regulatory approvals.
Written by Jason Oliva