Irvine, Calif.-based home health provider Jet Health Inc., has entered the hospice market with the acquisition of Boise, Idaho-based First Choice Home Health and Hospice for an undisclosed amount.
First Choice, initially a home health provider, began offering hospice care in 2012 after completing a merger with area hospice A Better Way Home. The company will not rebrand post-closing.
“This transaction with First Choice is strategic and significant for Jet Health in that it signals our entry into the hospice market and extends our home health offering into Idaho, one of the fastest-growing marketplaces in the United States today,” Jim Glynn, founder and CEO of Jet Health, said. “Adding hospice to the equation rounds out our portfolio of services and benefits both our referral sources and home health patients alike. We look forward to working closely with the entire First Choice team to further strengthen the company’s offering and market position.”
Three of the four owners of First Choice — Catherine Jerrems, Pat Toshcoff, and Kara Craig — will remain with the company, whereas owners and Controller Celeste Spencer will retire upon closing. The hospice on average cares for 85 patients daily.
Private equity investment firms SV Health Investors and Health Enterprise Partners, which partially owns Jet Health, financed the transaction, which was managed by mergers and acquisitions firm The Braff Group.
Hospice acquisitions were in the cards for Jet Health since the company’s founding in 2016.
“At Jet Health’s inception, our business plan included adding hospice to our service offering once we had sufficient home health scale,” Glynn told Hospice News.
In addition to home health care and now hospice, Jet Health offers skilled nursing care, physical, speech and occupational therapy, medical social services and personal care. Glynn, in partnership with SV Health Investors and Health Enterprise Partners, formed the company in 2016 to develop, acquire, and operate home health care and hospice companies.