American HealthCare Capital is pleased to introduce a Home Care Private Duty agency for sale in the Corpus Christi, Texas area. The company has been in business since 2011 providing non-skilled home care and Personal Assistance Services (PAS). They service 5 counties in the surrounding area.
The company’s payer mix is 60% Private Pay and 40% Long Term Care Insurance. Gross revenues were $1,201,000 in 2016 with an adjusted EBITDA of $242,000. The 2017 Run Rate for Revenue is $1,150,000. The dip in sales is because of a slight drop in hours billed due to Hurricane Harvey, but they expect these hours to get back to a pre-hurricane level within the next few months. The current average census is around 20 clients and they are billing approximately 5,100 hours per month. Growth could be achieved by building on their current base of referrals, including Home Health and Hospice Agencies, Hospitals and Rehab centers, MD’s and LTC Insurance.
The staff is expected to stay on under new ownership, and all caregivers are W2 employees. The sellers are looking to focus on other business endeavors, but will be available for a transition period.
The asking price for this opportunity is $850,000.