LOUISVILLE, Ky. (July 25, 2013) — Humana Inc. has signed a definitive agreement to acquire American Eldercare Inc., the largest provider of nursing home diversion services in Florida (serving frail and elderly individuals in home and community-based settings). Terms of the transaction were not disclosed.
As the only provider service network selected to provide Medicaid long-term care services across the entire state of Florida, American Eldercare complements Humana’s core capabilities and strength in serving seniors and disabled individuals with a unique focus on individualized and integrated care. Annualized revenues for American Eldercare of approximately $75 million are anticipated to increase to over $1 billion in 2015.
The transaction is subject to state regulatory approvals and is anticipated to close by the fourth quarter of 2013.
American Eldercare Inc. was founded in 1993 as a Home Nursing provider and has evolved into the largest provider of nursing home diversion services, pursuant to a Medicaid waiver program, in the state of Florida.
By beginning as a home health agency American Eldercare understands the challenges faced by its members and providers. The company believes the best way to ensure appropriate care to meet a person’s needs is to constantly work with its members and their providers of choice. Working together, the company develops innovative solutions to help members stay independent. American Eldercare’s experience has also taught it that long-term care requires a different focus than primary care to meet its members’ needs. The social aspect of long-term care can sometimes be missed by organizations not specializing in long-term care. American Eldercare is singularly devoted to long-term care and how it can impact the lives of all Floridians.
Humana Inc., headquartered in Louisville, Ky., is a leading health care company that offers a wide range of insurance products and health and wellness services that incorporate an integrated approach to lifelong well-being.