Almost Family Closes SunCrest HealthCare Deal For $75.5 Mln - Quick Facts

(RTTNews) - Almost Family, Inc. (AFAM), a provider of home health nursing and personal care services, Monday said it completed the previously announced acquisition of the stock of a provider of skilled home health and personal care services, SunCrest HealthCare. Subject to a working capital adjustment, the total purchase price was $75.5 million. The deal was funded mainly from Almost Family's existing cash and borrowings from its senior secured revolving credit facility.

With this transaction, Almost Family will operate over 240 branches across 14 states and its annual net revenue run rate is expected to touch $500 million. SunCrest in 2012 generated revenues of over $150 million.

Almost Family also announced the promotion of its Senior Vice President of Operations Daniel Schwartz to Senior Vice President and Chief Operating Officer, to lead the operations of the combined companies.