Almost Family Inc. (Nasdaq: AFAM) is buying WillCare HealthCare in the another home health care deal.
WillCare, headquartered in Buffalo, New York, provides home health and personal care services. The business has 16 branch locations in three states and generated $72 million in revenue for 2014. The business is backed by private equity firm Summer Street Capital, based in Buffalo.
Almost Family, headquartered in Louisville, Kentucky, also provides home nursing services. With the acquisition, the business will have more than 230 branches in 15 states.
Home health care companies have been attracting buyers because the businesses have the lowest cost structure. For more, see Health Care Comes Home.
Recent home health transactions include Madison Dearborn Partners' acquisition of a majority stake in Walgreens Infusion Services in January, and AxelaCare Health Solutions' deal for Ambient Healthcare.