Almost Family Acquires 80% Share of CHS Home Health

Almost Family (Nasdaq: AFAM) has agreed to acquire an 80% stake in Community Health Systems’ home health and hospice assets.  CHS Home Health consists of 74 home health and 15 hospice branches in 22 states.  Almost Family has agreed to pay $128 million, subject to a working capital adjustment, financed by JP Morgan.  The acquisition will make Almost Family the third largest Medicare home health provider, with 340 branches, 50,000 patients per day, and more than $800 million in revenue.  The partnership is also expected to improve quality through better patient management and collaboration.