Addus HomeCare Completes Acquisition of Tennessee High quality Care Operations

FRISCO, Texas–(BUSINESS WIRE)–Addus HomeCare Company (Nasdaq: ADUS), a supplier of residence care providers, at present introduced it has accomplished the acquisition of the entities comprising Tennessee High quality Care, a supplier of residence well being, hospice, and personal obligation nursing providers. Based mostly in Franklin, Tennessee, Tennessee High quality Care serves a median every day census of roughly 1,800 sufferers by means of 17 areas masking a service space of over 50 counties in Tennessee. Addus funded the acquisition by means of a mix of money available and the Firm’s revolving credit score facility.

Commenting on the announcement, Dirk Allison, Chairman and Chief Govt Officer of Addus, said, “We’re excited so as to add the scientific providers of Tennessee High quality Care to our operations as we broaden our market protection to all three ranges of residence care in Tennessee. Tennessee High quality Care has a superb repute and robust market presence, which is able to improve our skill to achieve extra sufferers and households on this essential market. We welcome the operations crew and scientific employees of over 500 devoted staff to Addus, and we look ahead to an environment friendly integration of Tennessee High quality Care’s operations. Collectively, we will leverage our mixed expertise and experience with a shared dedication to offer secure and cost-effective care in the popular residence setting.

“We’re happy to finish this acquisition, which aligns with our general technique so as to add scientific providers the place we have already got a robust private care presence. We are going to proceed to establish choose acquisition targets that complement our sturdy natural development alternatives. We’re lucky to have a robust stability sheet and the monetary flexibility to assist our development initiatives in 2023 and past,” added Allison.

About Addus HomeCare

Addus HomeCare is a supplier of residence care providers that primarily embody private care providers that help with actions of every day residing, in addition to hospice and residential well being providers. Addus HomeCare’s shoppers are primarily individuals who, with out these providers, are vulnerable to hospitalization or institutionalization, such because the aged, chronically sick and disabled. Addus HomeCare’s payor purchasers embody federal, state and native governmental companies, managed care organizations, industrial insurers and personal people. Addus HomeCare presently gives residence care providers to over 49,000 shoppers by means of 221 areas throughout 22 states. For extra data, please go to www.addus.com.

Ahead-Wanting Statements

Sure issues mentioned on this press launch represent forward-looking statements inside the which means of the Personal Securities Litigation Reform Act of 1995. Such forward-looking statements could also be recognized by phrases comparable to “preliminary,” “proceed,” “count on,” and related expressions. These forward-looking statements are primarily based on our present expectations and beliefs regarding future developments and their potential impact on us. Ahead-looking statements contain a variety of dangers and uncertainties that will trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements, together with discretionary determinations by authorities officers, the consummation and integration of acquisitions, transition to managed care suppliers, our skill to efficiently execute our development technique, surprising will increase in SG&A and different bills, anticipated advantages and surprising prices of acquisitions and inclinations, administration plans associated to inclinations, the chance that anticipated advantages could not materialize as anticipated, the failure of the enterprise to carry out as anticipated, modifications in reimbursement, modifications in authorities laws, modifications in Addus HomeCare’s relationships with referral sources, elevated competitors for Addus HomeCare’s providers, modifications within the interpretation of presidency laws, the uncertainty concerning the result of discussions with managed care organizations, modifications in tax charges, the influence of hostile climate, increased than anticipated prices, decrease than anticipated price financial savings, estimation inaccuracies in future revenues, margins, earnings and development, whether or not any anticipated receipt of funds will materialize, any safety breaches, cyber-attacks, lack of knowledge or cybersecurity threats or incidents, and different dangers set forth within the Danger Components part in Addus HomeCare’s Annual Report on Kind 10-Okay filed with the Securities and Change Fee on February 28, 2023, which is obtainable at www.sec.gov. The monetary data described herein and the intervals to which they relate are preliminary estimates which are topic to alter and finalization. There isn’t any assurance that the ultimate quantities and changes is not going to differ materially from the quantities described above, or that further changes is not going to be recognized, the influence of which can be materials. Addus HomeCare undertakes no obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case. As well as, these forward-looking statements essentially rely on assumptions, estimates and dates which may be incorrect or imprecise and contain identified and unknown dangers, uncertainties, and different elements. Accordingly, any forward-looking statements included on this press launch don’t purport to be predictions of future occasions or circumstances and will not be realized.