State:
California
Category:
Assisted Living Facilities
Asking Price:
-
Revenue:
$11,000,000
Company Overview
PRIME exits and American HealthCare Capital are pleased to exclusively introduce a modern assisted living facility for sale in located in Northern California. The facility is owned and operated by a husband-and-wife team who personally experienced the challenge of finding a high-quality assisted living facility for their own loved ones before the demise of one of them. Their aim was to establish a culture to invest in the social, physical, emotional, and spiritual wellbeing of the residents. They prioritize both the Quality of Care (QOC) and the Quality of Experience (QOE) at every interaction with the residents. Additionally, they wanted to ensure that they provide exceptional care not only to folks who could afford to pay for care privately, but also those on the state assistance program (MediCal).
Staff Overview
The Company employs approximately 80 people locally to support its operation and additional 15 people offshore to leverage labor arbitrage for administrative support.
Financial Overview
The Company is experiencing stellar financial performance with a long wait list of patients to become residents. They grew from $1.4 million in gross revenue in 2021 to nearly $4.9 million in 2022, to $9.3 million in 2023. Adjusted EBITDA has increased as well, reaching $4.6 million in 2023. In 2024, the company is on pace to gross $10.7 million with an adjusted EBITDA around $5.5 million.
The Opportunity and Exit Strategy
This opportunity includes both the business opportunity and the real estate. The founders are open to different deal structures, including selling a majority stake or rolling equity into a new joint venture, to achieve their objectives. They are currently under contract to acquire a 50,000 sq facility in SoCal and are in serious discussions to acquire another facility in South Bay.
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