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Home Health and Hospice Revenue Multiples: Tennessee Quality Care Acquired by Addus (2.7x Revenue)

Addus HomeCare Corp. (NASDAQ: ADUS) announced on June 29, 2023, that it intends to acquire Tennessee Quality Care, a provider of home health, hospice, and private duty nursing services, for $106 million. The acquisition gives Addus a presence in all 95 counties of Tennessee and expands its service offerings to include hospice.

Home Health and Hospice Valuation Metrics

The revenue multiple for the acquisition is 2.7x, based on TQN's annualized revenue of approximately $40 million. Despite a challenging macroenvironment, the implied revenue multiple is the sixth highest for a home-based services deal under $1 billion in the Scope Research database. Even assuming generous EBITDA margins of 25% implies an EBITDA multiple of over 10x.

This chart presents the six highest implied revenue multiples for home health and hospice deals of under $1b enterprise value.
Home Health and Hospice M&A: Highest Revenue Multiples for Deals Under $1b

Other Home Health and Hospice Deals

Get Scope Research's take on other home health and hospice transactions:

About Scope Research

The Scope Research Healthcare M&A Valuation Database currently has financial details for 169 home-based services deals going back to 2010, 113 of which include reported EBITDA multiples. The home health and hospice databases can be purchased individually, while our affordable annual subscriptions provide access to all of our healthcare M&A databases and segments, updated continuously.

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