LOUISVILLE, Ky. — Humana Inc. says it has signed a definitive agreement to acquire the largest provider of nursing home diversion services in Florida, American Eldercare Inc.
Terms of the deal were not disclosed Wednesday.
Humana said in a statement that American Eldercare's annualized revenue of about $75 million is expected to grow to more than $1 billion in 2015.
American Eldercare said on its website that it provides home-based skilled nursing, medical rehabilitation and private-duty services to clients in more than 23 counties. The company was founded in 1993 as a home nursing provider.
State regulatory approvals are required for the transaction, which is expected to close by the fourth quarter of 2013.
Louisville-based Humana's stock rose 98 cents to $91.57 Wednesday.