Case 93 Addus HomeCare

Addus HomeCare is a leading provider of comprehensive home care and support services which focuses on innovative patient services. The company has been in 40 plus years of service. Addus focuses on home care services which include personal care services that assist with activities of daily living along with hospice and home health services. Addus’ consumers are persons who are at risk of hospitalization or institutionalization such as the elderly, chronically ill, and disabled. The payor clients of Addus include federal, state, and local governmental agencies, managed care organizations, commercial insurers, and private individuals. Currently Addus offers home care services to approximately 44,000 consumers through 212 locations across 22 states in the United States. In 2021 and 2022, Addus Home served 67,000 and 66,000 discrete consumers. The company provides all three levels of care, personal care, home health, and hospice services in Ohio, Illinois, and New Mexico. The cumulative monthly return for Addus stock was 55% compared to cumulative monthly returns of 29% for the market index Russell 2000 during the 5-year period September 2018–August 2023.