Company Overview
American HealthCare Capital is pleased to exclusively offer a Medicare and Medicaid Certified Home Health Agency for sale in the state of Connecticut. The company provides an array of services, including skilled nursing care, certified home health aides, physical therapy, and occupational therapy. The company serves patients in multiple counties across Southwest Connecticut.
Financial Overview
The payer mix is 20% Medicare, 30% Managed Care, 48% Medicaid, 2% Private Insurance, and a very small amount of Private Pay. Gross revenues in 2021 were $4,736,606 with a net income of $605,976. In 2022, gross revenues were $4,845,832 with a net income of $495,020. In 2023, gross revenues were $4,742,454 with an Adjusted EBITDA of $608,954 (12.84%). Through 3/31/24, gross revenues were $1,212,687 with a net income of $119,248, and they expect to gross $4,850,000 by the end of 2024 with an Adjusted EBITDA in the $630,000 range.
Payor relationships include United Healthcare Managed Care, Wellcare (CareCentrix), Cigna, Blue Cross Blue Shield Commercial, Blue Cross Blue Shield Managed Care (Carelon), Aetna Managed Care (Carelon), and Humana. Their current census is 414 patients, and they receive about 100 new admissions per month.
Staff Overview
The owners are open to making a complete exit, but they may also be willing to stay on and assist with growing the agency. The remaining non-owner key employees are expected to stay with the company post-sale.
Asking Price
The asking price for this opportunity is $3.8 Million.
