American HealthCare Capital is pleased to introduce an award-winning, non-medical private duty home care agency located in the Houston, Texas Metroplex area. Established over 10 years ago, the company is approved to serve patients in 10 counties. Their core services include Personal Care, Homemaking, Companionship, and Care Management.
The company’s payer mix is 100% Private Pay. Approximately 15% of clients have Long-Term Care Insurance, though all LTC patients pay the company directly. The current average census is 60 patients, and there are currently 4 patients receiving 24/7 care. The company currently bills approximately 2,000 hours per week.
The company grew from $2,374,895 in gross revenues in 2019, to $2,675,884 in 2020. In 2021, gross revenues increased to $2,901,734. Through June 2022, the company continued to experience substantial growth with $1,708,537 in gross revenues. For the TTM (trailing twelve month) period of 9/1/21 – 8/31/22, gross revenues were $3,431,481 with an adjusted EBITDA of $576,144 (16.79%).
Due to a 20% rate increase in October 2021 and historical seasonal increases in business in the second half of each year, 2022 gross revenues are projected to reach $3.7 million with adjusted EBITDA projected in the $600,000 – $700,000 range by year-end.
The staff is expected to stay on under new ownership. The owners intend to pursue other endeavors and will assist with a transition. There are existing employees who could replace the owners.
The asking price for the business opportunity is $3.5 million.
