Company Overview
American HealthCare Capital is pleased to exclusively introduce a Private Duty Home Care Agency located in South Carolina. Established in 2015, the company is approved to serve patients across the entire state. Their core services include non-medical Personal Care, Companionship, and Respite Care.
Financial Overview
The company grew from $1,536,651 in gross revenues in 2021 to $2,642,001 in 2022. In 2023, gross revenues improved to $2,747,084, with an adjusted EBITDA of $448,319 (16.32%). Through June 2024, the company continued its growth trajectory with $1,613,108 in gross revenues. 2024 gross revenues are projected to exceed $3,400,000 with an adjusted EBITDA in the $560,000 range.
The company’s payer mix is 45% Private Pay, 29% VA, 12% Helper Bees/Health Align, 7% Long Term Care Insurance, and 7% Other. The company does not participate in Medicare or Medicaid payer programs. The current average census is 100 patients, and 4 patients receive 24/7 care. The company bills approximately 9,600 hours per month. The average bill rate is $28.23 per hour, and caregivers are paid an average wage of $15.91 per hour.
Staff Overview
The current staff is expected to remain under new ownership. The owner intends to pursue other endeavors and will assist with a transition.
Asking Price
The asking price for the business opportunity is $3.2 million.
