American HealthCare Capital is pleased to introduce a private duty home care agency for sale in Maryland. The company has been in business for over 2 decades, providing professional and compassionate care for families seeking quality homecare for their loved ones. They are licensed, bonded and insured in the state of Maryland, and they are approved for Medicaid. In Washington D.C., they are only approved to provide VA services. Additionally, the company recently started a Psychiatric Rehab program that provides support to individuals with a mental health diagnosis. In 2016, it was responsible for only 4% of total revenue, and in 2017, they expect it to increase to 15%.
The company’s payer mix is 68% Veteran’s Administration (DC), 12% private pay, 11% Medicaid (MD), 6% Veteran’s Administration (MD), and 3% other. Gross revenues were $2.1 Million in 2016 with an adjusted EBITDA of $380,000, and they are currently on track to gross $2.2 Million in 2017. Of that revenue, $90,000 came from mental health services in 2016, and they are expecting around $300,000 in 2017. Their current home care census is 110 clients, of whom none receive 24 hour care, and they bill approximately 6,700 hours per month. They have 40 mental health clients, and they expect that number to grow to 60 by the end of the year.
The staff is expected to remain under new ownership, and the seller will assist during a transitional period. The asking price for this opportunity is $1.6 Million. The seller is open to including the mental health business in the sale or keeping it and continuing to run it.
If you would like to learn more, please contact us for a Confidentiality Agreement that will allow us to share more detailed information with you.