DTRT Health Acquisition Posts Investor Presentation on $681M Consumer Direct Holdings Deal

DTRT Health Acquisition today filed an investor presentation highlighting its proposed merger with Consumer Direct Holdings. Announce last week, the deal implies an enterprise valuation for the target of $681 million.

Based in Missoula, Montana, Consumer Direct is a national in-home personal care provider offering in-home care assistance and customer service to older adults and people with disabilities who require long-term care and support with activities of daily living.

The transaction is expected to deliver $234 million of cash held in the SPAC’s trust account (assuming no redemptions) and up to $150 million in debt financing, in addition to $99 million of cash on CDH’s balance sheet.

The enterprise valuation is 10.1x pro forma 2023 adjusted EBITDA. The company’s current equity holders will own approximately 61% of the pro forma company after closing, assuming no redemptions. Existing Consumer Direct shareholders will also receive a portion of their consideration in cash. Read more.

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