I've been waiting for this video! I was hoping you would discuss valuations. I currently have an off market non skilled home care deal. Mom (care aid backround)/daughter owner retiring. Very hands on. After 6-12 month transition, only bookkeeper & scheduler left behind plus 90 care takers. I have no health care backround but plenty logisitics & managment. I offered 4.5X net profit (probably +2M) with no working capital & they now want a formal offer. Feels pricey given the slim managment team but agencys dont go cheap around here.
When acquiring an agency how do you get around the licensing requirement for states that require them, can you bring on someone who is licensed or keep the owner in a minor equity position ?
There is a formal Change of ownership if you already own an license it would be a simple asset purchase and closure plan, if you are buying an agency as described you simply have to follow change of ownership process of the state.
Hey Karl! I hope you can help, I've reached out to a consultant company requesting help with my startup and instead was left more confused than before! My companies' mission is to empower and train families to become HHA's to provide care to their own family. Via the client's private insurance, we would pay the HHA (family caregiver). Would this still be considered a Home Care Agency? If not, would this mean I am still bound to obtain a AHCA license from my state? I'd assume so but have heard differing answers unfortunately. Thank you for any help!
