Encompass Health Corp. has agreed to acquire the privately owned Camellia Healthcare and affiliated entities.
Camellia Healthcare, headquartered in Hattiesburg, Mississippi, operates a portfolio of home health, hospice and private duty locations in Alabama, Mississippi, Tennessee and Louisiana. The company generated approximately $78 million in revenue in 2017.
The purchase price was not disclosed. The transaction is expected to close in the second quarter of 2018, subject to regulatory approval. Brentwood Capital Advisors of Franklin, Tennessee, was the investment banker and the financial adviser for Camellia Healthcare.
Encompass Health expects to fund the transaction with cash on hand and borrowing under its revolving credit facility.
The acquisition will enable Encompass Health to leverage its home health and hospice operating platform and strengthen its presence in the Southeast. It’s the latest in a series of acquisitions and expansions for the Birmingham-based company.
“Camellia Healthcare is a widely known and respected name in the home care industry. We could not be more proud to have the Payne family choose Encompass Health to continue the legacy of high-quality patient care in the communities Camellia Healthcare serves,” said April Anthony, chief executive officer of Encompass Health’s home health and hospice business. “We welcome the Camellia Healthcare employees to the Encompass Health team.”
— Birmingham Business Journal
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