Houlihan Lokey Advises Tennessee Quality Care

Houlihan Lokey is pleased to announce that the entities comprising Tennessee Quality Care, a subsidiary of American Health Partners, has been acquired by Addus HomeCare Corporation (Nasdaq: ADUS). The transaction closed on August 1, 2023.

Tennessee Quality Care is a provider of home health, hospice, and private duty nursing services, and serves an average daily census of approximately 1,800 patients through 17 locations covering a service area of over 50 counties in Tennessee.

Addus HomeCare is a provider of home care services that primarily include personal care services that assist with activities of daily living, as well as hospice and home health services. Addus HomeCare’s consumers are primarily persons who, without these services, are at risk of hospitalization or institutionalization, such as the elderly, chronically ill and disabled. Addus HomeCare’s payor clients include federal, state and local governmental agencies, managed care organizations, commercial insurers and private individuals. Addus HomeCare currently provides home care services to approximately 47,500 consumers through 203 locations across 22 states. 

Houlihan Lokey’s Healthcare Group is among the largest dedicated healthcare investment banking groups in the world. In 2022, the group closed 37 transactions and was ranked by Refinitiv as the No. 1 advisor for U.S. healthcare M&A transactions under $1 billion.* 

Houlihan Lokey served as exclusive financial advisor to Tennessee Quality Care and American Health Partners, and assisted in initiating, structuring, and negotiating the transaction on their behalf.

*Excludes accounting firms and brokers.