Click for a FREE Health
Almost Family, Buys Fla. Home Health Agencies
Almost Family, a Louisville-based home health-care provider, is acquiring Largo, Fla.-based Quality of Life Holdings Inc., which runs four home-health agencies in the Tampa Bay area.
The Louisville Company said the initial purchase price is $10 million, consisting of $8 million in cash and $2 million in Almost Family restricted common stock. Almost Family later may pay up to $6.9 million more if certain targets are met.
Quality of Life mainly serves patients in group-living settings such as assisted and independent-living facilities, retirement communities and public housing. It has agencies in Largo, Tampa, New Port Richey and Brooksville, Fla.
The company made Medicare revenues of $9.4 million in the 12 months that ended Sept. 30.
Michael Moses, CEO and founder of Quality of Life, will join Almost Family as vice president of group living programs.