CORAL GABLES, Fla., Feb. 7 /PRNewswire-FirstCall/ -- MBF Healthcare Acquisition Corp. (Amex: MBH), a publicly traded special purpose acquisition company, announced today that it has signed a definitive stock purchase agreement with Critical Homecare Solutions Holdings, Inc. (along with its subsidiaries, "CHS"). Privately-owned CHS is a leading provider of comprehensive home infusion therapy and specialty infusion services, based in Conshohoken, Pennsylvania. The boards of directors of both companies have unanimously approved the transaction.
The home infusion industry is estimated to be approximately a $5 billion market, growing at approximately seven percent per year due to constructive cost setting for payers, a favorable reimbursement environment, and positive demographic trends. The market is largely fragmented with the top four home care infusion companies, which includes CHS, representing 25 percent of the market, with the remaining 75 percent represented by smaller local and regional companies. This combination of macro drivers and market fragmentation presents a favorable dynamic for growth through acquisitions as well as organically. CHS is also well positioned to take advantage of the 400 new specialty infused drugs currently in the pipeline from pharmaceutical manufacturers.
For the three month period ended December 31, 2007, CHS generated an annual run rate of adjusted revenues and adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") of approximately $218 million and $43 million, respectively. CHS maintains a healthy pipeline of acquisition targets and expects to continue its acquisition strategy of acquiring four to six companies per year.
Pursuant to the terms of the agreemen
|SOURCE MBF Healthcare Acquisition Corp. and Critical HomecareSolutions,|
Copyright©2008 PR Newswire.
All rights reserved