Almost Family To Buy 80% Of Equity Interest In CHS Home Health For $128 Mln

(RTTNews) - Community Health Systems, Inc. (CYH) announced a subsidiary has signed a definitive agreement to sell a majority ownership interest in the company's Home Health division to a subsidiary of Almost Family, Inc. (AFAM). The company has previously announced plans to reduce and refine its overall portfolio with proceeds being used to pay down debt.

Almost Family said the total purchase price for 80% of the equity interest in CHS Home Health is $128 million. Almost Family expects the acquisition to be accretive to EPS in 2017.

CHS Home Health is a provider of skilled home health and hospice services, which currently operates 74 home health and 15 hospice branch locations in 22 states. With the completion of the transaction, Almost Family will operate 340 branches across 26 states and expects annual net revenue run rate to exceed the $800 million mark.