Baton Rouge-based health care and hospice-provider Amedisys announced this morning that it has signed an agreement to purchase Professional Profiles, a personal care company headquartered in Danvers, Massachusetts, for $4.4 million.
Under the terms of the agreement, Amedisys will acquire substantially all of the assets of Professional Profiles. The transaction is expected to close on Sept. 1.
Professional Profiles was founded in 1988 and provides non-medical services that range from personal care to personal shopping, heavy chores and major cleanouts. It has 384 employees located at branches throughout eastern Massachusetts. The company delivers care to approximately 1,000 clients per year and generates approximately $9.7 million in annualized revenues, according to a press release.
“This transaction solidifies our footprint in Massachusetts, building on our March acquisition of Associated Home Care, the leading personal care company in greater Boston,” says Amedisys President and CEO Paul Kusserow in a statement. “It also takes us yet another key step closer to achieving our long-term strategy in adding personal care to complement our home health and hospice businesses in Massachusetts.”
Amedisys paid $28 million for Associated Home Care in a deal that marked the first acquisition of a private-duty company for the firm. Founded in 1982, Amedisys partners with more than 2,200 hospitals and 61,900 physicians nationwide to provide post-acute care. It has more than 13,000 employees in 411 care centers across 34 states.
