Growing Accredited Group Adult Foster Care Business – Has Accepted Offer
Price: $2,800,000
Annual Revenue: $3,706,001
Net Cash Flow: $639,490
Industry: Health Care
Location: Worcester County, Massachusetts
This CARF-accredited Group Adult Foster Care (GAFC) business serves patients in their homes with a full suite of personal care, home support, and companionship services that help enable them to retain their independence and remain in their homes.
Caregivers have a daily schedule designed to meet the individual needs of each patient. They serve over 200 patients through over 125 W2 caregivers. The staff includes RNs, LPNs, and Certified Direct Care Aids and Case Managers.
The majority of patients are in Worcester County with a few in eastern and western MA. Payments come through Mass Health, CCA, Fallon, United and Tufts.
Patient referrals come from existing happy customers, hospitals, insurance companies, and case managers. The company achieved CARF accreditation in Oct. 2023 which is good for 3 years and will transfer with the sale.
Listing Details
Reason For Sale:
The sellers are pursuing other opportunities.
Training & Support:
The sellers will be available to ensure a successful transition to the new owners.
Operation
Employees: 140
Location
Square Footage: 2,000
Facilities Information:
The leased space has several offices, storage for patient files, a large conference room for meetings and training, and a kitchen. The current lease is good through 2028.
Summary
Competition:
They are one of the fastest growing and largest GAFC businesses in MA.
Potential Growth:
As people continue to live longer there is strong demand for support services that enable them to live at home. This business successfully addresses their needs and has grown accordingly. Demand for services will create continued opportunities for growth.