Multicare Cos., a Hackensack, N.J.-based eldercare company, announced it will acquire ADS Group in a deal valued at $100 million.
Multicare will pay $62.6 million in cash and assume or repay $27 million in debt. Multicare also will issue about 530,000 shares of its common stock for ADS, worth $10.8 million. Multicare's stock closed at $20.37 on the New York Stock Exchange June 17.
ADS, based in Newton Corner, Mass., owns, manages or provides consulting services to more than 60 long-term-care and subacute-care facilities with 5,600 beds in Massachusetts and Connecticut. The privately held company, which posted 1995 revenues of $75 million, will continue to operate under the ADS name.