Homedco Completes Acquisition: The Fountain Valley company...

Homedco Completes Acquisition: The Fountain Valley company said that Friday’s $72-million acquisition of Glasrock Home Health Care Inc. in Smyrna, Ga., makes Homedco Inc. the nation’s second-largest in-home health care agency. The purchase, paid in an unspecified amount of cash and assumption of debt, was financed through a $133-million line of credit from Banque Paribas in France and increases Homedco’s debt load to 57% of its capital from 34%. The combined company now has offices in 42 states and expects annual revenue this year of $420 million, which ranks it behind Caremark Inc.’s $700 million in revenue last year.