Addus HomeCare acquires New York home health service
PRNewswire
DOWNERS GROVE - Home and community-based services provider Addus HomeCare Corp. said it will acquire South Shore Home Health Services, a New York state-licensed home care services agency primarily providing personal care services.
Terms of the acquisition were not announced. South Shore, headquartered on Long Island, serves Suffolk, Nassau, Queens and Westchester counties.
"The completion of this transaction provides Addus with a great platform for growth in the New York City metropolitan area and creates a strong initial presence for the Company in the Northeast," said Addus President and CEO Dirk Allison. "New York was among the first states to transition the majority of its Medicaid and dual eligible populations to managed care, and as reflected in South Shore's continued organic revenue growth since we announced the definitive agreement, we are entering this large market with a well-respected home care provider that has created a long-term record of success."
Addus expects that the acquisition of South Shore, which produced revenues for 2015 of approximately $52 million, will be accretive to the Company's 2016 financial results.