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Home Health & Hospice Week

Industry Notes:

Regional Chain Gears Up For Acquisitions

Published on Thu Jun 21, 2012

Expect to see more acquisitions from seven-state chain Encompass Home Health Inc. The Dallas-based company, backed by private investment firm Cressey & Co., is borrowing $210 million from CIT Group Inc., the bank says in a release. "This facility will provide additional working capital and allow us to continue our focus on enhanced patient care and ensure we remain the leader in innovative home health services," Encompass founder and CEO April Anthony says in the release.Encompass borrowed the money to repay existing debt and fund an acquisition strategy that could deploy $35 million to $40 million of capital per year, Encompass CFO Bob Thompson told the Dow Jones LBO Wire financial news service. The additional capital from the new debt facility will help Encompass "take advantage of an attractive mergers and acquisitions market," Thompson said. Encompass has more than 100 home care and hospice branches with $250 million in annual [...]
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