Welcome to our dedicated page for Addus Homecare news (Ticker: ADUS), a resource for investors and traders seeking the latest updates and insights on Addus Homecare stock.
Addus HomeCare Corporation provides in-home care services, primarily personal care assistance with activities of daily living, along with hospice and home health services. Its consumers include elderly, chronically ill and disabled individuals who may otherwise face hospitalization or institutional care, and its payor clients include government agencies, managed care organizations, commercial insurers and private individuals.
Company news commonly covers quarterly and annual operating results, investor conference participation, acquisition activity, debt and capital allocation commentary, and updates tied to the personal care, hospice and home health service mix.
Addus HomeCare (Nasdaq: ADUS) announced the pricing of an underwritten public offering of 1,500,000 shares of common stock at $108.00 per share, aiming to raise $162 million in gross proceeds. The underwriters have a 30-day option to purchase an additional 225,000 shares. Addus plans to allocate approximately $81.4 million of the net proceeds for repaying its outstanding credit facility debt, with the remainder used for general corporate purposes, including the acquisition of Gentiva's personal care assets and potential future acquisitions. The offering is anticipated to close around June 28, 2024, subject to standard closing conditions. BofA Securities and Jefferies are leading the offering, with Oppenheimer & Co., Raymond James, RBC Capital Markets, and Stephens Inc. acting as co-managers.
Addus HomeCare (Nasdaq: ADUS), a provider of home care services, announced a public offering of 1,500,000 shares of common stock, with an option for underwriters to purchase up to an additional 225,000 shares within 30 days. The offering is led by BofA Securities and Jefferies. Net proceeds, estimated at $81.4 million, will be utilized to repay debt and for general corporate purposes, including the acquisition of personal care assets from Gentiva and potential future investments. No selling stockholders are involved. The offering is subject to market conditions and final terms will be specified in the filed prospectus. A preliminary prospectus supplement dated June 26, 2024, has been filed with the SEC.
Addus HomeCare announces a definitive agreement to acquire Gentiva's personal care operations for approximately $350 million.
This acquisition will add annualized revenues of about $280 million across seven states, including Texas, where Addus will become the largest personal care provider.
The deal involves over 16,000 patients daily and will be funded through Addus' existing revolving credit facility.
CEO Dirk Allison highlights this acquisition as a strategic fit to expand market presence and leverage strong personal care experience. Regulatory approvals and customary closing conditions are pending.
Gentiva's CEO David Causby endorses the transition, emphasizing continued growth under Addus' leadership.
BofA Securities and Goldman Sachs are acting as financial advisors for the transaction.
Addus HomeCare (Nasdaq: ADUS), a provider of home care services, will participate in the 2024 Jefferies Global Healthcare Conference from June 4-6, 2024, in New York City. Key executives, including Chairman and CEO Dirk Allison, President and COO Brad Bickham, and EVP and CFO Brian Poff, will represent the company. A live broadcast of the company's presentation is scheduled for 12:30 p.m. ET on June 5, 2024, and will be accessible via the Investor Relations section of Addus' website. A replay will be available for a month, starting one hour after the live broadcast ends.
Addus HomeCare (Nasdaq: ADUS) has announced a definitive agreement to sell its New York operations to HCS-Girling, a Brooklyn-based home care provider.
The transaction, valued at up to $23 million, includes all personal care operations and fiscal intermediary services under the New York Consumer Directed Personal Assistance Program (CDPAP). The closing is subject to regulatory approvals.
Proceeds will reduce Addus' revolving credit facility balance. CEO Dirk Allison noted that exiting New York aligns with the company's growth strategy, eliminating a challenging market with financial contributions.
HCS-Girling's Co-CEO Agnes Shemia expressed optimism about expanding their service coverage in New York and integrating Addus' employees and caregivers.
Addus HomeCare (Nasdaq: ADUS) will participate in the BofA Securities Health Care Conference 2024 in Las Vegas, Nevada. The company's top executives will be present at the conference to showcase their services and engage with potential investors. A live broadcast and replay of the presentation will be available on the company's website for one month.
Addus HomeCare (NASDAQ: ADUS) announced its first quarter 2024 financial results, showing an 11.6% revenue growth to $280.7 million. Net income was $15.8 million, with adjusted net income per diluted share increasing to $1.21. Adjusted EBITDA rose by 24.6% to $32.4 million. The company is focused on strategic growth, investing in acquisitions, and maintaining a strong financial position.
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