Company Overview
American HealthCare Capital is pleased to exclusively represent a Licensed Home Care Services Agency (LHCSA) for sale in western New York. The company has been in business for over 40 years, and the owner is looking to retire. They are currently focused on providing nonskilled personal aide services, although they have historically provided Nursing, Home Health Aides, and Personal Care Aide services. Their service area spans from Buffalo down to the southwest corner of the state.
Financial Overview
The company accepts payment from Medicaid, Office for the Aging (OFA), Workers Compensation, Long Term Care Insurance, Private Insurance, Managed Care, Private Pay, and other sources. Their current payer mix is 92% Medicaid and 8% OFA, and their current census is 25 clients. They grossed $405,054 in 2022 and $398,868 in 2023. In 2024, recent rate increases are projected to increase the revenue to $480,000 and increase margins with no additional effort.
Prior to the pandemic, they had larger patient volumes, but vaccine requirements from the Department of Health hindered their ability to hire staff. Now that these requirements have been lifted, there is an opportunity to hire and grow again. The seller feels this is a prime opportunity for a home care organization seeking to achieve economies of scale by expanding their geographic reach to western New York.
Staff Overview
The staff is expected to stay post-closing, and the seller will assist during a transitional period.
Asking Price
The asking price for this opportunity is $175,000.
