Shrewsbury home health firm acquired for $2.1M
Shrewsbury home healthcare company Family Tree Home Care will continue to operate in Central Massachusetts and all its employees are expected to stay on, after the firm was acquired by a Canadian organization for $2.1 million.
Nova Leap Health Corp., based in Halifax, Nova Scotia, announced the purchase on Monday.
Family Tree will operate under the same name and all employees will transition to Nova Leap employees. That brings Nova Leap’s New England employee count to about 250 after three other investments in New England-based home health care companies.
With the acquisition, Nova Leap said it increases its annual recurring service hours by 85 percent at about 280,000 hours. It’s annual recurring revenue is expected to increase by 80 percent, the company said.
At Family Tree, revenues in 2017 were $3.23 million.
WBJ Web Partners
Most Recent
Most Recent
0 Comments