Louisville, Ky. – Almost Family, a Louisville-based home health services giant, has acquired Massachusetts-based Long Term Solutions in a $37 million deal.
Long Term Solutions is one of the largest providers of in-home nursing assessments for the long-term care insurance industry.
According to a press release, LTS was acquired for $20 million in cash, a $6 million note payable plus $11 million of Almost Family common stock.
“We are extremely excited to make this very strategic investment to expand our in-home assessment capabilities and to participate in providing assessments and care coordination to the long-term care insurance industry,” said Almost Family Chairman and CEO William B. Yarmuth. “LTS has established an industry leadership position that we find very attractive. In addition to continuing its remarkable growth, we will also look for opportunities to offer its unique capabilities and service offerings to managed care, Medicaid and other payer types, all to further our Senior Advocacy Mission of enabling seniors to stay in their homes as long as possible.
LTS will be included in Almost Family’s rapidly developing Health Care Innovations Segment, the fourth investment in that segment over the last two years.
In 2015, LTS produced nearly $16 million in revenue generated from performing over 60,000 in-home assessment visits.
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