Almost Family, Inc. (NASDAQ: AFAM), today announced that it has entered into an agreement to acquire the assets of the Medicare-certified home health agency owned by Caldwell Medical Center located in Princeton, Kentucky.
"We are very pleased to welcome the home health employees of Caldwell Medical Center to our growing family of home health providers." said William B. Yarmuth, Chairman and Chief Executive Officer of Almost Family. "Caldwell adds to our already strong position in Western Kentucky. Working with them, we will build upon an existing foundation of high quality caregivers and the strong tradition of commitment to patients with the breadth of expertise we have accumulated throughout our over 240 locations and 30 plus years of Medicare home health operating experience."
The agency generated approximately $1.3 million of revenue in 2013. Terms of the transaction were not disclosed. The transaction is expected to close before the end of April 2014 subject to regulatory approvals.
The Company noted that while it is continuing the integration of its recent acquisitions, it will continue to seek opportunities for the acquisition of high quality home health and personal care agencies that fit the Company's geographic, service line, value and quality criteria.