Addus HomeCare (ADUS) RBC Capital Markets Global Healthcare Conference 2026 summary

Regulatory and compliance environment

• Recent moratorium on new Home Health licensure does not impact PCS operations or acquisition strategy.

• Compliance investments and robust internal controls position the company favorably with payers and regulators.

• Ongoing collaboration with government and industry groups to address fraud and abuse is seen as beneficial.

• No significant expected impact on valuations or business operations from current regulatory actions.

Operational and growth trends

• PCS census growth continues in Illinois, Texas, and New Mexico, with starts of care exceeding discharges.

• Same-store billable hours per business day remain in the 2%-2.5% range, with potential to reach higher levels if rate support improves.

• Caregiver app rollout in major states has improved fill rates, with Texas expected to see gains similar to Illinois.

• Bridge Programs are driving 20%-30% of hospice admissions from Home Health in key markets.

M&A and market expansion

• Indiana acquisitions provide a new foothold, with nearly $20 million in revenue and further expansion opportunities.

• Company is well-positioned for large PCS-driven acquisitions, with a clean balance sheet and capacity for all-cash deals.

• Valuations for potential deals are trending below double digits, reflecting current market multiples.