Amedisys Expands Private Duty Footprint With $4.4 Million Acquisition
One of the nation’s largest home health care and hospice companies is expanding its private duty footprint with a $4.4 million deal announced Monday.
Baton Rouge, Louisiana-based Amedisys, Inc. (Nasdaq: AMED) signed a definitive agreement to acquire substantially all of the assets of Professional Profiles, Inc., a personal care company headquartered in Danvers, Massachusetts, the company announced. The move builds upon Amedisys’ long-term strategy to expand into private duty offerings and follows the provider’s first deal of its kind earlier this year.
The transaction is expected to close March 1.
Professional Profiles, Inc. delivers care to approximately 1,000 clients per year and generates roughly $9.7 million in annualized revenues, according to a news release announcing the deal. The company delivers non-medical services like personal care, heavy chores and major cleaning to clients across Eastern Massachusetts, and has 384 employees with offices in Brookline, Melrose and Lowell.
“This transaction solidifies our footprint in Massachusetts, building on our March acquisition of Associated Home Care, the leading personal care company in Greater Boston,” Amedisys President and CEO Paul Kusserow said in the release. “It also takes us yet another key step closer to achieving our long-term strategy in adding personal care to complement our home health and hospice businesses in Massachusetts.”
Amedisys revealed its intention to grow its private duty presence in Massachusetts to Home Health Care News in February, but the company is also looking to other parts of the country, like New Jersey, Pennsylvania and Tennessee.
Amedisys says it will provide further detail on the transaction during its Aug. 3 earnings conference call covering the second quarter of 2016.
Written by Kourtney Liepelt