Missouri Home Hospice, LLC, has purchased Moberly, Mo.-based hospice and home health provider HomeCare of Mid Missouri. Financial terms of the transaction were not disclosed.
Missouri home is on a growth trajectory even amid the COVID-19 crisis. The HomeCare transaction is the company’s fourth acquisition in the past nine months.
“In each community we enter, we are building strong localized care teams, while providing tech-enabled back-office operations to support the highest standards of patient care,” said Bobby Robertson, CEO, of Missouri Home Hospice. “In light of recent events, home-based care is on the front lines of health care, and we’re passionate about supporting our nurse heroes in each of the communities we serve.”
Missouri Home Hospice operates a number of home health, hospice, and personal care services throughout their home state, including Nurses and Company and Transitions Hospice.
The company acquired Transitions Hospice last October for an undisclosed amount in partnership with the investment firm MHS Equities, LLC.
Even as the COVID-19 pandemic continues to spread, the business of hospice goes on. According to M&A advisors, mergers and acquisitions activity in the hospice space is not expected to slow during the crisis. The market has grown robust in recent years, with a high rate of activity during 2018, 2019 and so far in 2020, with hospice multiples continuing to reach record highs.
Missouri Home Hospice indicated that it would continue to extend its footprint across the Show Me State throughout 2020.
Hospice utilization is relatively high in Missouri, with 50.3% of Medicare-enrolled decedents electing hospice, according to the National Hospice & Palliative Care Organization. Though it ranks the 20th state in the nation in terms of utilization, it’s percentage trails that of the No. 1 state, Utah, by 9.4%.
Seniors represent more than 15% of the state’s population, a proportion that is expected to reach close to 20% by 2025, according to the U.S. Census Bureau.