American Healthcare Capital is pleased to introduce a Medicare Home Health agency for sale in the greater Detroit, Michigan area. The company was established in 2015 and specializes in caring for those with Traumatic Brain Injuries (TBI) and Spinal Cord Injuries (SCI). Services include Home Health Aides, Skilled Nursing, Mental Health, Physical Therapy, and much more. Their service area spans 6 counties in and around the Detroit area.
The company’s payor mix is 73% Auto Insurance, 20% Medicare, and 7% Private Health Insurance/Other. Gross revenues were $3.2 Million in 2017 with an adjusted EBITDA of $414,857 (12.67%). They have a current run rate of over $4 Million in 2018 with a projected adjusted EBITDA of approximately $800,000 (20%). The current census is a total of 121 patients (54 – Medicare / 31 – Auto Insurance / 36 – Private Insurance) and they receive an average of 45 new admissions per month. Their Medicare patient base continues to grow rapidly.
All employees are available to stay on under new ownership and the operation is turn-key. The owners are looking to retire but would be willing to assist during a transitional period. The asking price for this opportunity is $3 million.
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.