Humana acquiring Florida home-health company

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Humana says it's signed a definitive agreement to acquire the largest provider of nursing home diversion services in Florida, American Eldercare.

Terms of the deal have not been disclosed.

Louisville-based Humana says 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 says 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.

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