Addus HomeCare Establishes Significant Illinois Hospice Presence With Agreement to Acquire JourneyCare Operations
Summary
Based in Glenview, Illinois, JourneyCare serves an average daily adult census of approximately 750 patients in a surrounding 13 county territory. Commenting on the announcement, Dirk Allison, Chairman and Chief Executive Officer of Addus HomeCare Corporation, stated, “ JourneyCare has a long, rich history as a not-for-profit hospice care provider in the Chicago area. Addus HomeCare’s payor clients include federal, state and local governmental agencies, managed care organizations, commercial insurers and private individuals. With more than 40 years of healthcare leadership and expertise, JourneyCare has achieved national recognition for growth, innovation, community partnerships and best practices in caring for seriously ill adults and children. Forward-looking statements involve a number of risks and uncertainties that may cause actual results to differ materially from those expressed or implied by such forward-looking statements, including discretionary determinations by government officials, the consummation and integration of acquisitions, anticipated transition to managed care providers, our ability to successfully execute our growth strategy, unexpected increases in SG&A and other expenses, expected benefits and unexpected costs of acquisitions and dispositions, management plans related to dispositions, the possibility that expected benefits may not materialize as expected, the failure of the business to perform as expected, changes in reimbursement, changes in government regulations, changes in Addus HomeCare’s relationships with referral sources, increased competition for Addus HomeCare’s services, changes in the interpretation of government regulations, the uncertainty regarding the outcome of discussions with managed care organizations, changes in tax rates, the impact of adverse weather, higher than anticipated costs, lower than anticipated cost savings, estimation inaccuracies in future revenues, margins, earnings and growth, whether any anticipated receipt of payments will materialize, any future impact to our business operations, reimbursements and patient population due to the recent COVID-19 global pandemic, and other risks set forth in the Risk Factors section in Addus HomeCare’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2021, which is available at www.sec.gov.