Almost Family, a home health nursing services provider, entered into a new five-year $350 million revolving credit facility. J.P. Morgan Securities acted as lead book-runner and arranger, while Bank of America acted as joint lead arranger under the facility which replaces the company’s previous $175 million credit facility.

The facility includes a syndicate of five banks including JPMorgan Chase Bank, as administrative agent, Bank of America, Fifth Third Bank and Regions Bank, all existing syndicate banks that expanded their commitments, and the addition of Capital One Bank. The facility extends the maturity profile of our bank commitment to December 2021. The facility may be used for general corporate purposes including acquisitions and includes an accordion feature which permits expansion up to $500 million.

The company has also cleared the necessary regulatory approvals for the previously announced agreement to acquire a controlling interest in the entity holding the home health and hospice assets of Community Health Systems, a provider of skilled home health and hospice services. CHS currently operates 74 home health and 15 hospice branch locations in 22 states. With the completion of this transaction, Almost Family will operate 340 branches across 26 states and its annual net revenue run rate is expected to exceed the $800 million mark.

The company expects to fund the acquisition on December 30, 2016 the last day of its fiscal year.

William Yarmuth, CEO, said, “We are extremely pleased to announce this larger facility, along with having received the necessary regulatory approvals we need to close on the previously announced CHS joint-venture. Both of these accomplishments will allow us to close on the transaction by the end of the year. We look forward to getting this deal closed and getting started on our exciting new partnership.”