Oct 22, 2018 — MIPD1G - $12 Million Private Duty Home Care and Staffing Agency in Michigan
Private duty home care and staffing agency for sale in Michigan. This well-established company has multiple offices throughout the state. Their services include private duty home care, Catastrophic Care (specializing in Traumatic Brain Injury and Spinal Cord Injury), Medicaid Waiver Services, and Medical Staffing. They are approved to service the whole state of Michigan.
Private Duty Home Care and Catastrophic Care comprise 66% of the company’s total revenue. Approximately 26% comes from the Medicaid Waiver program, and the remaining 9% comes from Staffing. Total Gross Revenues were over $8.2 Million in 2017 and exceeded $9.1 million in 2018 with an adjusted EBITDA of $1,055,392. Based on current trends, the company is currently on pace to gross $11 – $12 million in 2019. However, with the implementation of new programs and initiatives, they expect to reach the $15 million range by the end of the year with an adjusted EBITDA margin closer to 15%.
Key personnel are expected to stay on, and the seller will assist during a transitional period.
The asking price for this opportunity is $10 Million.