This is an opportunity to acquire a Deemed Status Joint Commission Accredited Home Health Agency (last surveyed March 2017) in the City of Ventura (Ventura County) with 4.5/5 Star Rating with Medicare (visible on Home Health Compare). Why is this a rare opportunity? There is not a huge saturation of home health agencies in this county and those existing agencies do not exit the marketplace that often. This agency was started as a partnership (owners) in which the team included a number of skilled healthcare professionals with an aim of creating an agency that integrated portions of the healthcare continuum that were not being addressed by their competitors. In striving for their goal to be unique they created a great working relationship with a large area orthopedic provider and cardiology provider in the area.
The motivation for the sale is that this is a partnership decision. This is a great opportunity for a buyer who is knowledgeable with the skilled home health agency industry. If you have a healthy and consistent referral source(s), then this would be an excellent opportunity to create an unparalleled agency.
This agency is currently situated in a 2000 square feet, open floor plan, office space with a separate door for the nurses/staff to pick up their supplies and or to drop off their paperwork. The office kitchenette is conducive for the staff to heat up and have their snacks and their meals. The location is in a close proximity to the 101 Freeway and relatively close of the beach. The current lease agreement that has a remaining 3 years on it ($2,500 Monthly Rental Agreement, Gross, No NNN) with the seller willing to work with the buyer in either creating a new lease for the buyer or terminating the current lease to facilitate the sale. Furthermore, parking is not an issue with this agency. There is a plenty of free parking and is situated near many potential marketing points in the area.
This will be stock purchase agreement and as part of the Goodwill, the Seller, will be including approximately $10,000 in FFEs (furniture, fixtures, equipment) to include 5 computer work stations, conference desk, a voice over phone system and more). If you are a buyer and looking for a strong office infrastructure, this Seller, is giving you a great starting point.
Currently, the agency census is approximately at15 Medicare-insured patients, but they have had a consistent 30+ census for quite a long time. The agency has a healthy and ongoing relationship with a large County Healthcare plan which will become part of the sale. Also, this agency has aligned itself with specific diagnostic specific groups that are not typically being serviced by their competitors and for which this agency is sought by area referral sources.
There are no billing issues with this agency (no ADRs, no Z-Codes or the like).
The agency is currently using Kinnser to manage their patient staffing, billing and so forth.
This agency is up for its first 3-year re-accreditation survey, March 2020.
The agency just went through a number of changes with CDPH to include adding additional zip codes of coverage to include the Bakersfield area and its change of location. All changes have been approved by CDPH and by CMS with the agency having no issues with its CDPH licensure.
The agency also recently hired a consulting group that has come into the agency to review and ensure that the agency is in compliance. At this time the census is at zero, though, the owners will be starting to admit a few patients within the next few days to help with the company's cash flow and expenses.
Please Note: The seller is responsible for proving the accuracy of any information provided to the buyer's satisfaction. Information contained in this document is provided solely by the seller. No representations or warranties are provided by us, its agents, representatives, or subsidiaries as to the accuracy, completeness or validity of such information. Interested parties are encouraged to seek the counsel of their accountant, attorney and/or other business advisors.