Key Developments: Addus Homecare Corp (ADUS.W)
15.30USD
17 May 2013
$0.99 (+6.92%)
$14.31
$15.42
$15.51
$15.30
300
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Latest Key Developments (Source: Significant Developments)
Addus HomeCare Corp Announces Completion Of Sale of Home Health Assets to LHC Group, Inc's Subsidiaries
Addus HomeCare Corp announced that effective March 1, 2013, the Company completed the sale to subsidiaries of LHC Group, Inc. of substantially all of the assets used in the Company's Home Health business in Arkansas, Nevada and South Carolina, and 90% of the Home Health business in California and Illinois with the Company retaining a 10% ownership interest in those locations. The purchase price of the assets totaled approximately $20 million in cash. The net proceeds from the transaction are being used to pay off outstanding debt and for general corporate purposes. Full Article
LHC Group Inc Signs Definitive Agreement To Acquire Home Health Business From Addus HomeCare Corp
LHC Group Inc announced that it has entered into a definitive agreement to acquire the home health service line of Addus HomeCare Corp. The transaction is expected to close on or about February 28, 2013. The acquisition will encompass 19 home health agencies and two hospice agencies in five states. When the transaction is complete, LHC Group, a national provider of post-acute care, will operate more than 300 locations in 23 states nationwide. Purchase price for the transaction is $20 million. Full Article
Addus Homecare Corporation Awarded Contract Renewal In Riverside County, California
Addus Homecare Corporation announced that it was awarded a contract renewal to be the agency provider of home-based personal care through Riverside County's In-Home Supportive Services (IHSS) program. Addus was the successful bidder in a competitive bidding process for the contract, which will be funded through a combination of state, federal and county sources. The contract runs from July 1, 2011 to June 30, 2012, with two additional option years. Valued at $11.5 million annually. Full Article
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