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Executive Vice President and Chief Development Officer
HQ Phone:  (630) 296-3400
Direct Phone: (847) ***-****
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2300 Warrenville Road
Downers Grove, Illinois,60515
Addus is a provider of comprehensive personal care services, which are provided in the home. Addus' services provide assistance with activities of daily living and adult day care. Addus' consumers are primarily persons who are at risk of hospitalization or ins... more.
A Regional Provider of Home Care Services
Illinois Older Adult Services Advisory Committee
Advisory Committee Positions
bachelor of science degree
Michigan State University
Addus HomeCare, Inc. - Corporate Governance - Management
Executive Vice President, Chief Development Officer Darby Anderson Executive Vice President, Chief Development Officer Darby Anderson serves as Chief Business Development & Strategy Officer of Addus HomeCare. Mr. Anderson served as Senior Vice President at Addus HomeCare until December 2014. Mr. Anderson joined Addus HomeCare in 1996 as its Midwest Regional Manager until 2000. In 2000, Darby became Regional Vice President of Midwest/East. Mr. Anderson has also been appointed or elected to board and advisory committee positions, including the Older Adult Services Advisory Committee and the Community Care Program ...
Addus HomeCare, Inc.
Executive Vice President, Chief Development Officer Management Team Member Darby Anderson Darby Anderson serves as Chief Business Development & Strategy Officer of Addus HomeCare. Mr. Anderson served as Senior Vice President at Addus HomeCare until December 2014. Mr. Anderson joined Addus HomeCare in 1996 as its Midwest Regional Manager until 2000. In 2000, Darby became Regional Vice President of Midwest/East. Mr. Anderson has also been appointed or elected to board and advisory committee positions, including the Older Adult Services Advisory Committee and the Community Care Program Advisory Committee in Illinois. He earned a Bachelor of Arts degree from Michigan State University. Mr. Anderson lives in the West Chicago Suburbs with his wife and two children.
Darby Anderson Division Vice President, Home & Community Services Addus HealthCare, Inc. Mr. Anderson has over sixteen years managing the Addus' Home and Community Services business which operates in 19 states, through 120 locations and serves over 50,000 consumers annually. Mr. Anderson has over twenty years experience in the management of home health and home care services. Mr. Anderson has held several advisory committee positions, including the Older Adult Services Advisory Committee and the Community Care Program Advisory Committee in Illinois.
Darby Anderson (8)
Darby Anderson. For purposes of this proxy statement Company’s “named executive officers” are (i) Mark S. Heaney, (ii) Dennis Meulemans, (iii) Darby Anderson, and (iv) Paul Diamond. Darby Anderson, age 48, has served as Senior Vice President of Addus Healthcare since 2013. He was previously Vice President of Home & Community Services of Addus HealthCare since October 2007. 19 Table of Contents Mr. Anderson joined Addus HealthCare in 1996, starting as a Regional Vice President, Midwest until his promotion in 2000 to Regional Vice President, Midwest & East. Mr. Anderson earned a bachelor of science degree from Michigan State University. Darby Anderson, Senior Vice President; Our named executive officers received the following base salary increases, effective as of March 11, 2013: Mr. Heaney—from $325,000 to $400,000; Mr. Meulemans—from $250,000 to $265,000; and Mr. Anderson—from $237,500 to $265,000. Meulemans, Anderson and Diamond and Ms. Berkovich, the award opportunity for 2013 performance was based 75% on the achievement of certain levels of EBITDA and 25% on the achievement of individual performance goals (“MIT” goals). Meulemans, Anderson and Diamond and Ms. Berkovich, the target opportunity was 40%. Mr. Anderson Mr. Anderson Mr. Anderson Darby Anderson, Mr. Anderson: term life insurance premiums paid by us for the benefit of Mr. Anderson ($2,381), reimbursement for the use of a Company vehicle ($5,349) and matching contributions paid under our 401(k) plan ($819). Darby Anderson Darby Anderson Heaney and Anderson will vest on May 9, 2014. Mr. Anderson’s unexercisable options vest in two equal installments on each of April 30, 2014 and 2015. Heaney and Anderson and Ms. Berkovich do not participate in the Excess Plan. Employment Agreement with Mr. Anderson We entered into an employment agreement with Mr. Anderson on August 27, 2007. Mr. Anderson’s employment agreement was amended in connection with the Company’s IPO. The initial term of Mr. Anderson’s agreement was four years from the agreement’s effective date; after the initial term, the agreement automatically renews for successive one-year terms, unless the Company provides at least thirty days’ notice prior to the expiration of the applicable term of its intention not to renew the agreement. Under the agreement, Mr. Anderson’s base salary was originally $185,000, subject to annual review and adjustment by the Board on or about January 1 of each year starting in 2009. Effective March 2013, the Compensation Committee increased Mr. Anderson’s annual base salary to $265,000. For the year ended December 31, 2013, Mr. Anderson was eligible to receive a target bonus of 40% of base salary, based 75% on the achievement of Company EBITDA and 25% on personal objectives. In addition, under the agreement, Mr. Anderson is entitled to receive benefits paid to similarly situated employees, which includes, at a minimum, participation in health, disability and vacation plans, as well as receipt of a life insurance policy with a death benefit of up to five times his base salary, although we are not required to pay more than 3% of 31 Table of Contents Mr. Anderson’s base salary for such insurance policy. Mr. Anderson is entitled to receive severance benefits upon termination of employment as described below under “Potential Payments upon Termination or Change in Control.” Heaney, Meulemans and Anderson and Mr. Berkovich, described above, that provide for payments and benefits in the event of termination of employment. Under the employment agreements for Mr. Anderson, Reasonable Cause is defined as: Mr. Anderson — (i) unpaid base salary for any period prior to the effective date of termination, (ii) a pro rata payment of bonus for any period prior to the effective date of termination and (iii) accrued but unpaid benefits, including accrued vacation time and unused holidays. In addition, subject to strict compliance with the noncompetition, confidentiality and other covenants, Mr. Anderson would receive (i) severance pay for one year equal to Mr. Anderson’s annual cash compensation, which is defined as the sum of the highest base salary in effect for the executive, plus the greater of the prior year’s bonus or the annualized amount of the executive’s maximum target bonus (provided that the bonus portion of the severance payment shall not exceed 50% of annual base salary), plus (ii) a cash payment equal to the Company’s share of COBRA premiums for a period of 12 months. Meulemans and Anderson and Ms. Berkovich to receive severance, except for payments made to Messrs.
Irving Levin and Associates - Home Health Care News
Major provider Amedisys, for instance, is looking to dramatically ramp up its M&A activity, noted Darby Anderson, chief business and development officer at Addus HomeCare Inc., which operates in-home personal care in 21 states. Private equity players are getting back in the game, including some that successfully divested in the mid-2000s, Braff said.
Skilled nursing facilities also are increasingly active, seeking to extend their capabilities to other parts of the post-acute continuum as they vie to be more valuable in the more integrated health care system. As for hospitals, CEOs have begun to come around to the idea that post-acute care is not their strong suit, and rather than acquire home health agencies, they are looking at joint ventures and other creative partnerships, Braff and Berman said. In fact, JVs and mergers are occurring at levels not seen in more than a decade, Berman explained. “The mergers are almost outpacing the acquisitions in some areas," he said. "You're seeing two companies, two systems, regional players, local players, merging together, knowing they need capital, economies of scale, so they're coming together. More in the last year than the last 15 years.” As for who is selling, many are organizations that are not willing or able to strategically change their business to meet the evolving health care system, Anderson said. And, particularly if they are a mom-and-pop operation, they may not be concerned with fetching the highest possible price but rather having a smooth transaction and handing off their company to a buyer they feel will be the best fit operationally. That's not the case for larger organizations with constituencies who have valuation expectations, particularly those with private equity sponsorship, said Braff and Levinson. "If we're talking about larger companies, north of $20 million, if they go through a process and are looking at a variety of different opportunities, you're looking at a valuation in the plus or minus 8-times EBITDA," Braff said, providing ballpark figures for valuations. "For smaller sellers, valuations are solid mid-5, 6 times EBITDA for a quality provider. They were looking at 4 to low 5s two or three years ago, so those valuations have gone up.” While these numbers may reflect general trends, Berman emphasized that providers who are contemplating a sale shouldn't make assumptions because each transaction is unique. "The danger with throwing out multiples is people take that, apply it to their business, and it's not that simple," he said.