Frisco, Texas-based comprehensive home care services provider Addus HomeCare Corp. has acquired Richmond Hill, N.Y.-based home care provider VIP Health Care Services Inc., effective June 1.
The company funded the $28 million transaction through the delayed draw term loan portion of its credit facility and cash on hand.
Addus HomeCare agreed to acquire the assets of VIP Health Care Services in October 2018.
The acquisition will combine the operations of Addus HomeCare and VIP Health Care Services in South Shore, Long Island.
Addus HomeCare expects to yield a combined annual revenue of $110 million in New York through this transaction.