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Subsequent Events
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events

12. Subsequent Events

 

On August 1, 2023, the Company completed the acquisition of American Home Care, LLC, a Tennessee limited liability company (“AHC”) and its subsidiaries, Homecare, LLC, a Tennessee limited liability company (“Homecare”), Tennessee Valley Home Care, LLC (d/b/a Tennessee Quality Care – Home Health), a Tennessee limited liability company (“TQC – Home Health”), and Tri-County Home Health and Hospice, LLC (d/b/a Tennessee Quality Care - Hospice), a Tennessee limited liability company (“TQC – Hospice”, and collectively with AHC, Homecare, and TQC – Home Health “Tennessee Quality Care”) for approximately $106 million, with funding provided by drawing on the Company’s revolving credit facility pursuant to the terms of the Membership Interests Purchase Agreement dated as of June 28, 2023. With the purchase of Tennessee Quality Care, the Company expanded its services within its hospice and home health segments in Tennessee. The initial accounting is not yet complete as the Company is currently in the process of valuing the assets acquired and liabilities assumed in the transaction. Therefore, the related business combination disclosures have not been presented.