MCLEAN, Va. (August 25, 2021)—Capital One announced it served as lead arranger and administrative agent for a $600 million revolving line of credit for Addus HomeCare. With 210 offices in 22 states, Addus is a provider of personal care services as well as hospice and home health services. Over the past two years, the company has acquired seven personal care companies and four home health/hospice companies. An established Capital One client, Addus plans to deploy the additional liquidity to support meaningful merger and acquisition opportunities in its pipeline.
“The strong capital markets response reflects the growing momentum that Addus has achieved in the past few years,” said Jeffrey Hoffman, managing director, Capital One Healthcare Finance. “The strong topline growth it reported in 2020, despite disruption from COVID-19, underscores the resilience of its business.”
Addus has turned to Capital One for financing several times since 2017. “It has been very important for us to have a sophisticated financial partner with the industry knowledge to appreciate our business model as we implement our strategy,” said Addus CEO Dirk Allison. “Capital One’s ability to provide exceptional turnaround and flexibility is yet another reason why we continue to rely on them for our financing.”
Capital One Healthcare is a leading provider of financial services to the industry serving customers across health care sectors—including health care services, senior housing, pharmaceuticals, medical devices, health care IT and medical offices—rely on Capital One Health care to finance acquisitions, refinance existing debt, support working capital needs and fund growth initiatives.
Visit capital.one/healthcare and addus.com for more information.
