Sep 18, 2019 — MIMC3M - $1.9 Million Medicare Certified Home Health Agency Serving the Southeast Michigan Area
Medicare Certified Home Health Agency for sale in Michigan. The company is dedicated to providing comprehensive skilled nursing care, certified home health aides, physical and occupational therapy, speech-language therapy, medical social work and laboratory services. Their service area includes 5 counties in Southeast Michigan.
The company’s current payer mix is approximately 75% Medicare, 20% Medicare Advantage and 5% Private Pay. Over the past three years, the company has remained very consistent in annual revenue in the $1.9 million range. In 2019, they are on track to gross $1.9 million again with an adjusted EBITDA around $270,000. Their average census fluctuates between 110-125 with 50-60 new admissions per month. There is a strong referral base split evenly between physician offices, hospitals and SNF’s.
The seller would like to pursue other ventures but is willing to stay on for a transitional period or longer for the right opportunity.
The asking price for this opportunity is $1.3 million.