Addus HomeCare Corp. acquired hospice service provider Hospice Partners of America LLC for $130 million in cash.
Birmingham, Ala.-based Hospice Partners of America operates in 21 locations spread across Idaho, Kansas, Missouri, Oregon, Texas and Virginia, serving about 1,000 patients a day and generating $55 million in annualized revenue.
Frisco, Texas-based Addus HomeCare, a homecare services provider to people who are elderly, chronically ill and disabled, funded the acquisition with the proceeds from a recent $172.9 million stock offering completed Sept. 9.
"This is our fourth completed acquisition for 2019 and brings our total acquired annualized revenues to approximately $130.0 million to date," Dirk Allison, president and CEO of Addus HomeCare, said in an Oct. 1 press release.
