Frisco Home Health Firm Expands Hospice Services With $130 Million Acquisition

A Frisco home health care company is boosting its hospice services with a $130 million cash purchase of a Birmingham, Alabama, firm that serves 1,000 patients a day.Addus HomeCare Corp. announced the deal Monday with Hospice Partners of America LLC, which has 21 locations in Texas, Idaho, Kansas, Missouri, Oregon and Virginia. Closing is subject to regulatory approvals."This acquisition is consistent with, and supports our strategy of adding hospice services in markets where we already have a personal care presence," Addus CEO Dirk Allison said in a statement.It also gives the company headquartered on Gaylord Parkway its first entry into the Texas market. Addus has been looking to expand its hospice services since its 2018 purchase of New Mexico-based Ambercare, Allison said.Hospice Partners of America's management and clinical staff will join Addus, Allison said. Hospice Partners of America's annual revenue is about $55 million.Norma English, Hospice Partners of America's CEO, said joining Addus will accelerate "our ability to enter new markets and provide hospice services to more patients."  Continue reading...