Company Overview
American HealthCare Capital is pleased to offer a Medicare and Medicaid Certified Home Care company for sale in Michigan. The company has established itself as a leader in delivering comprehensive healthcare services across several counties. The company specializes in a wide range of health services for both pediatric (20%) and geriatric (80%) patients, ensuring quality care for all ages. Their skilled team, including Registered Nurses and Licensed Practical Nurses, collaborates closely with physicians to create personalized care plans. Additionally, they offer Physical Therapy, Occupational Therapy, and Speech-Language Pathology, focusing on improving patients\’ mobility, independence, and communication skills. The inclusion of Medical Social Workers further enhances their holistic approach, addressing the social and emotional needs of patients and their families.
Financial Overview
The company’s payer mix is 80% Medicare & Medicare Advantage and 20% Medicaid HMO’s. Over the past three years, the company has seen a decline in gross annual revenue due to collection challenges. However, they have made the appropriate adjustments to their billing and collections processes and expect to see growth back to prior levels going forward. In 2021, they generated $1,258,903 and was profitable. In 2022, they grossed $983,183 in annual revenue with an adjusted EBITDA of $212,596. They are projected to reach approximately $800,000 in gross annual revenue with an adjusted EBITDA of approximately $110,000 by the end of 2023. Revenue and profit are expected to rebound in 2024 and beyond.
Staff Overview
The staff is expected to stay on, and the seller will assist during a transitional period or stay longer for the right opportunity.
Asking Price
The asking price for this opportunity is $425,000.
