ALBUQUERQUE, N.M. — An Albuquerque-based hospice and home health care company is the subject of a $40 million acquisition, according to a news release.
Frisco, Texas-based Addus HomeCare Corp. plans to purchase Ambercare Corp. in the second quarter of this year. Ambercare serves roughly 2,600 consumers through 15 locations across New Mexico and generated revenue of approximately $57 million in 2017.
Addus purchased another New Mexico health services company, Options Home Care, in 2017.
Dirk Allison, president and CEO of Addus, said in a statement that the Ambercare deal was “consistent with our strategy of providing an expanded range of home-based health care services.”
“Our management team has deep experience in the hospice industry, and we look forward to welcoming the employees of Ambercare to the Addus family and adding their expertise to our own, as we intend to continue to grow this segment of the business in the future,” said Allison.
Ambercare’s chairwoman, Mary Merrell, called the deal “a natural fit” in the statement.