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Almost Family, Buys Fla. Home Health Agencies

Almost Family, a Louisville-based home health-care provider, is acquiring Largo, Fla.-based Quality of Life Holdings Inc., which runs four home-health agencies in the Tampa Bay area.

The Louisville Company said the initial purchase price is $10 million, consisting of $8 million in cash and $2 million in Almost Family restricted common stock. Almost Family later may pay up to $6.9 million more if certain targets are met.

Quality of Life mainly serves patients in group-living settings such as assisted and independent-living facilities, retirement communities and public housing. It has agencies in Largo, Tampa, New Port Richey and Brooksville, Fla.

The company made Medicare revenues of $9.4 million in the 12 months that ended Sept. 30.

Michael Moses, CEO and founder of Quality of Life, will join Almost Family as vice president of group living programs.

 

 

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