Addus HomeCare Business Summary

Addus HomeCare Corp (ADUS) operates a service-based revenue model primarily driven by government-funded reimbursement, with Medicaid accounting for the vast majority of its billings. The company is organized into three distinct business segments: Personal Care, which provides non-medical assistance with activities of daily living and generates approximately 74% of total revenue; Hospice, which offers palliative and end-of-life care contributing roughly 20%; and Home Health, which delivers skilled medical and therapy services making up the remaining 6%. As of February 2026, Addus continues to leverage a dual-track growth strategy focused on organic volume expansion in key states like Illinois and Texas alongside aggressive M&A activity to consolidate the fragmented home care market. The company competes directly with major players such as BrightSpring Health Services (BTSG), Amedisys (now part of Optum), and National HealthCare Corporation (NHC), maintaining a dominant position as a leading pure-play provider of home and community-based services (HCBS) for the high-acuity, dual-eligible population. Originally founded in 1979 by Mark Heaney, the company is currently led by Chairman and CEO R. Dirk Allison, a veteran healthcare executive who previously served as CEO of Correctional Healthcare Companies and CFO of Odyssey Healthcare. In September 2025, the leadership team was further strengthened by the appointment of Heather Dixon as President and Chief Operating Officer; Dixon brings a high-pedigree background as the former CFO of Acadia Healthcare and a senior executive at Walgreens Boots Alliance and Aetna. The financial division is headed by Executive Vice President and CFO Brian Poff, whose experience includes senior roles at Oceans Healthcare and Gentiva Health Services. Addus is characterized by high institutional backing, with over 95% of its shares held by major investment firms including BlackRock, Vanguard, and Capital Research Global Investors, while its board is overseen by Lead Independent Director Mark First.