Click for a FREE Health Insurance Quotes

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.



Click for a FREE Health Insurance Quotes