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LONDON, UK / ACCESSWIRE / April 04, 2018 / Active-Investors.com has just released a free research report on Addus HomeCare Corp. (NASDAQ: ADUS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=ADUS as the Company's latest news hit the wire. On April 02, 2018, the Company disclosed that it has completed the acquisition of Arcadia Home Care & Staffing. Southfield, Michigan-based Arcadia Home Care & Staffing is a provider of home care services. The deal was closed on April 01, 2018 and is valued approximately $18.5 million. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for BioScrip, Inc. (NASDAQ: BIOS), which also belongs to the Healthcare sector as the Company Addus HomeCare. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Addus HomeCare most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Details of the acquisition
Established in 1978, Arcadia Home Care & Staffing is a national leader of supplemental staffing services, offering skilled healthcare professionals twenty-four hours a day, seven days per week. Arcadia provides skilled care, personal care, and supportive services to people who need help in taking care of family members who are either recovering from an illness, surgery or injury recovery, or caring for elderly loved ones. Arcadia can provide trained professionals with skills tailored to customer specifications. Arcadia has 26 offices in 10 states and provides its home care services to approximately 2,300 consumers. Arcadia's revenues for FY017 was approximately $47.4 million.
Addus expects that the deal would be immediately accretive to its earnings for FY18. Addus plans to finance the acquisition from an existing credit facility. The deal allows it to expand its footprint to two new states - Florida and Wisconsin.
Commenting on the acquisition, Dirk Allison, President and CEO of Addus said:
"We are pleased to announce this transaction, which strengthens our presence in eight states in which we currently operate, including a number of our most attractive markets.... Along with our pending Ambercare transaction, which we expect to close in our second quarter, this transaction reflects our growing acquisition pipeline, which we expect will continue to help us expand our market share and diversify our client base in targeted markets. With a strong financial position and substantial cash flow from operations, we believe we are well-positioned both to fund our organic growth and produce additional accretive acquisitions during 2018."
Acquisitions - Growth Strategy
The acquisition is in-line with the Addus' growth strategy of adding strategic assets to strengthen its presence in current markets and capture new markets as well as expand its client base.
In late February 2018, Addus had signed an agreement to acquire Albuquerque, New Mexico-based Ambercare Corporation, Inc., a provider of personal care, hospice and home health services for approximately $40 million. The acquisition in New Mexico complemented Addus' acquisition of Options Home Care, a wholly-owned subsidiary of HB Management Group in May 2017.
About Addus HomeCare Corp.
Founded in 1979 as a home cleaning service, Frisco, Texas-based Addus is a provider of comprehensive home care services that include, primarily, personal care services that assist with activities of daily living. Once it completes the acquisition of Ambercare, it will be able to provide hospice and home health services. The Company primarily caters to persons who, without these services, are at risk of hospitalization or institutionalization such as the elderly, chronically ill, and disabled. The Company also caters to federal, state and local governmental agencies, managed care organizations, commercial insurers, and private individuals. At present, the Company provides home care services to over 36,000 consumers. The Company has 142 offices across 26 states in the US.
Stock Performance Snapshot
April 03, 2018 - At Tuesday's closing bell, Addus HomeCare's stock climbed 1.92%, ending the trading session at $50.45.
Volume traded for the day: 113.11 thousand shares, which was above the 3-month average volume of 37.26 thousand shares.
Stock performance in the last month - up 35.44%; previous three-month period - up 44.97%; past twelve-month period - up 57.66%; and year-to-date - up 44.97%
After yesterday's close, Addus HomeCare's market cap was at $579.57 million.
Price to Earnings (P/E) ratio was at 39.69.
The stock is part of the Healthcare sector, categorized under the Home Health Care industry. This sector was up 1.3% at the end of the session.
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