Contact: Glen Toadvine
Email: [email protected]
Your Reference ID: GT1060417
For more than 15 years, this business has been one of the largest, independent private pay home health care service providers in the State of Michigan.
Operating out of a modest office in a prosperous area of Metro Detroit, the company’s sterling reputation provides a steady flow of referred clients. As a result, the staff of 150 employees (home health care aids, LPS’s, and RN’s) is kept very busy. Hourly billing rates range from $21.00 to $50.00 depending the skill level of the assigned service provider. Weekly billing ranges from 3600 – 4000 hours.
The private pay business model of this company cannot be over emphasized. The nightmares associated with the uncertainty of dealing with the health insurance industry coupled with changing government requirements and regulations are not an issue for this successful business. Similar companies bare the headaches and costs associated with Medicare and insurance companies.
Over the past five years, revenues have ranged from $4.5 million to $5.5 million, producing an impressive $1,000,000 of SDE (seller’s discretionary earnings – the cash flow available to pay the owner-operators and service debt).
The current owners are willing to stay with the company post-close for as long a transition period as requested by the buyer. Please note that potential buyers will be required to sign a non-disclosure agreement, and individual buyers will also be required to supply proof of funds information.
To learn more about this outstanding opportunity please contact Glen Toadvine (firstname.lastname@example.org).
Location(s): Metro Detroit
Asking Price: $3,800,000
Cash Flow: $1,000,000