Encompass Health to Acquire Alacare Home Health & Hospice
Posted on Friday, April 5, 2019 1:27 PM
Encompass Health announced this week that it had reached an agreement to acquire Alacare Home Health & Hospice. SEC Findings show that the cost of the acquisition is $217.5 million.
“We’ve been talking to Alacare for years,” April Anthony, CEO of Encompass Health’s home health and hospice business, told Home Health Care News. “We’ve over the years had many occasions to talk about the potential opportunity … because our cultures just align so well.”
Encompass had estimated their acquisition budget at half of what they will spend. They will cash on hand and revolving credit to fund the deal.
“When you have these big [acquisitions], it’s great, but you hate to promise that you’re going to catch a big fish when you’re just not sure what the opportunities are going to look like,” Anthony said. “So, we’re always pretty conservative in that acquisition profile.”
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