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Addus HomeCare Corp. (NASDAQ: ADUS) is a leading provider of in-home personal care services in the United States. The company operates across three main segments: personal care, hospice, and home health. The personal care segment is the cornerstone of Addus HomeCare, delivering non-medical assistance with daily living activities like bathing, grooming, feeding, and transportation. This care is primarily aimed at the elderly, disabled, and chronically ill who are at risk of hospitalization or institutionalization.
The hospice segment offers palliative care, encompassing physical, emotional, and spiritual support for terminally ill patients and their families. This segment also includes bereavement counseling and social work services. The home health segment focuses on skilled nursing and therapies such as physical, occupational, and speech therapy for patients recovering from illness or surgery.
Financially robust, Addus HomeCare recently reported significant growth, achieving net service revenues of $280.7 million in Q1 2024, a 11.6% increase year-over-year. The company's strategic acquisitions, including the purchase of Tennessee Quality Care and the personal care segment of Gentiva, have expanded its market presence, particularly in key states like Texas.
With over 49,000 consumers served through 214 locations in 22 states, Addus HomeCare's payor clients include federal, state, and local governments, managed care organizations, commercial insurers, and private individuals. The company continues to focus on growth opportunities through acquisitions and organic expansion while maintaining a strong balance sheet and financial flexibility.
Addus HomeCare also actively engages in important regulatory discussions, such as the recent HHS rule on Medicaid services, ensuring that the company adapts to industry changes and continues to provide high-quality care.
Addus HomeCare Corporation (NASDAQ: ADUS) reported a strong first quarter of 2021, with net service revenues of $205.3 million, up 7.9% from $190.2 million in Q1 2020. Net income increased to $8.9 million from $8.7 million year-over-year, while adjusted net income per diluted share was $0.74, slightly lower than $0.77 in the previous year. Adjusted EBITDA rose 8.9% to $19.3 million. The company emphasizes improving growth trends in personal care and home health amidst rising vaccinations and a conducive market environment.
Addus HomeCare Corporation (Nasdaq: ADUS) announced its participation in the Bank of America Securities 2021 Health Care Conference, featuring executives Dirk Allison, Brian Poff, and Brad Bickham. The virtual event will occur on May 11, 2021, with a live broadcast of the presentation available at www.addus.com starting at 11:00 a.m. ET. A replay will be accessible for a month after the event. Addus provides essential home care services to approximately 44,000 consumers across 208 locations in 22 states.
Addus HomeCare Corporation (Nasdaq: ADUS) has entered a joint software development agreement with Homecare Homebase (HCHB) to create the first integrated, enterprise-level solution for home-based care. This technology will unify patient records across services such as personal care, home health, and hospice, while integrating existing electronic visit verification from CellTrak. The project aims to enhance scheduling, billing processes, and compliance. The launch is planned for early 2022, promising improved patient care and operational efficiency.
Addus HomeCare Corporation (Nasdaq: ADUS) announced it will release first-quarter earnings on May 3, 2021, after market close. A conference call is scheduled for May 4, 2021, at 9:00 a.m. ET, featuring key executives including Chairman and CEO Dirk Allison. The call can be accessed via a toll-free number, with a replay available until May 11, 2021. Addus HomeCare provides essential home care services to approximately 44,000 consumers across 22 states, targeting individuals at risk of hospitalization. For more details, visit www.addus.com.
Addus HomeCare Corporation (Nasdaq: ADUS) has announced the promotion of Brad Bickham to President and Chief Operating Officer. Dirk Allison has been named Chairman of the Board, maintaining his role as CEO, while Steven Geringer becomes Lead Director. Bickham, who joined the company in 2017, has contributed significantly to its growth. The leadership transition is expected to strengthen Addus's strategy in providing quality home care services, supporting approximately 44,000 consumers across 22 states. The company aims for continued growth through both organic means and acquisitions.
Addus HomeCare Corporation (Nasdaq: ADUS) announced a new value-based post-acute care navigation agreement with Presbyterian Health Plan in New Mexico. This initiative aims to assist members transitioning home from hospitalization by coordinating care and identifying any barriers that could lead to re-admissions. Addus will conduct pre-discharge evaluations and provide targeted training to home care providers. The CEO, Dirk Allison, emphasized the importance of this collaboration for enhancing care management and ensuring quality outcomes for patients.
Addus HomeCare Corporation (Nasdaq: ADUS) will participate in the Oppenheimer 31st Annual Healthcare Conference on March 16, 2021. Key executives including Dirk Allison (CEO), Brian Poff (CFO), and Brad Bickham (COO) will represent the company. A live broadcast of their presentation will start at 9:20 a.m. Eastern Time and will be available for replay on their website for one month afterward. Addus HomeCare provides essential home care services to over 44,000 consumers across 212 locations in 22 states.
Addus HomeCare Corporation (Nasdaq: ADUS) announced participation in the Stephens 2021 Virtual Best Ideas Conference on March 10, 2021. Key executives, including CEO Dirk Allison, CFO Brian Poff, and COO Brad Bickham, will present at the event. The live presentation begins at 11:00 a.m. Eastern Time and will be available for replay on the company's website for one month following the event. Addus HomeCare provides essential home care services to approximately 44,000 consumers across 212 locations in 22 states, focusing on personal care and health services.
Addus HomeCare Corporation (NASDAQ: ADUS) reported its Q4 and full-year 2020 financial results, showing a 1.9% increase in net service revenues to $196.0 million for Q4. However, net income decreased to $8.4 million, or $0.53 per diluted share. For the full year, net service revenues rose by 17.9% to $764.8 million, while net income increased by 28.4% to $33.1 million. The company's adjusted EBITDA for 2020 was $76.9 million, a 31% increase. Addus completed four acquisitions in 2020, contributing approximately $84 million in annualized revenue and plans for further acquisitions in 2021.
Addus HomeCare Corporation (Nasdaq: ADUS) will participate in the Raymond James 42nd Annual Institutional Investors Conference on March 2, 2021. Key executives, including CEO Dirk Allison and CFO Brian Poff, will present in a virtual format. The live broadcast starts at 4:40 p.m. Eastern Time, with a replay available for one month on their website following the event. Addus HomeCare provides essential home care services to approximately 44,000 consumers across 212 locations in 22 states, helping those at risk of hospitalization.
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