Alacare Home Health & Hospice has Been Acquired by Encompass Health Corp. (NYSE: EHC)
July 11, 2019
Alacare Home Health & Hospice (“Alacare” or “the Company”), a leading provider of home health and hospice services with 23 locations across the Certificate of Need (CON) state of Alabama, has been acquired by Encompass Health Corp. (NYSE: EHC), for total cash consideration of $217.5 million. The previously announced transaction closed effective July 1, 2019.
Cain Brothers, a division of KeyBanc Capital Markets (“Cain Brothers”) served as Alacare’s exclusive financial advisor in connection with the transaction. This marks Cain Brothers’ seventh sell-side M&A transaction in the last three years in home health, hospice and community-based services, continuing its momentum in advising the leading providers and investors in the sector.
Founded in 1970, Birmingham-based Alacare Home Health and Hospice is Alabama’s oldest family-owned home health and hospice provider with 23 locations serving over 25,000 patients annually. In 2018, the company generated revenue of approximately $117 million.
Birmingham, AL-based Encompass Health Corp. (NYSE: EHC) is a national leader in integrated healthcare services and offers both facility-based and home-based patient care through its network of 130 inpatient rehabilitation hospitals, 220 home health and 58 hospice locations across 36 states and Puerto Rico.