Company Overview
American Healthcare Capital is pleased to exclusively represent a Medicaid Home Care Agency for sale in Texas. Established in 1998, the company provides non-skilled home care services, including homemaking and personal care. They serve patients and maintain offices in Region 11 (Harlingen) and Region 6 (Houston).
Financial Overview
The company generated gross revenues of $7,125,704 in 2021 with a net profit of $34,49. In 2022, gross revenues were $7,125,704 with a net loss of $31,336. In 2023, gross revenues were $6,902,419 with an Adjusted EBITDA of $425,652 (6.17%). Gross revenues through 3/31/24 were $1,607,992, and they are projected to reach $7 million by the end of 2024.
The company’s payer mix consists of 30% State Medicaid and 70% Medicaid MCO. The company maintains MCO contracts with Molina (23%), Superior (14%), United Health Care (20%), and Wellpoint (13%). Region 11 (Harlingen) and Region 6 (Houston) account for approximately 53% and 47% of total gross revenues, respectively. The company’s rate enhancement level is 34. Their state reimbursement rate is $15.54, and their average MCO reimbursement rate is $15.96. Attendants earn on average $11.75 per hour. The company bills approximately 36,000 hours per month. Their current average census is 369 clients, and they serve no 24/7 patients.
Staff Overview
The current owners plan to retire but are available to assist during a reasonable transition period. Non-owner employees are expected to remain with the company post-sale.
Asking Price
The owners will consider competitive offers.
