Hospice and home health provider Traditions Health, has expanded to markets in two new states with the acquisitions of Faith Hospice of Oklahoma and Embrace Hospice of Georgia. Traditions purchased both providers from Diversified Health Care for an undisclosed sum.
Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. Prior to these transactions, Traditions’ footprint extended through Texas, California and Arizona. The two acquired organizations operate out of a combined ten locations.
“I am extremely excited to expand our services to Oklahoma and Georgia. This is an enormous accomplishment for our organization and we are very honored to begin caring for patients in these great states,” said Bryan Wolfe, president and CEO of Traditions.
The company has been on a steady growth trajectory during 2019 and into 2020. In June Traditions acquired Tomball, Texas-based Hospice with Grace, expanding the company’s footprint in the Houston region. Financial terms of the transaction were not disclosed.
Traditions in 2019 purchased Tucson, Ariz.-based Pathways Hospice for an undisclosed sum. Also in 2019, Traditions purchased Tyler, Texas-based Hospice Connection, and subsequently completed a transaction to obtain Reflections Hospice and Palliative Care in Mesa, Ariz.
The company entered the California market in 2018 through its purchase of ProCare Hospice Corporation, headquartered in Oxnard, Calif., for an undisclosed sum. Also during 2018, the company acquired Family First Hospice, Inc., and Family First Palliative Care, Inc., growing its presence in the greater Dallas area.
Demographic tailwinds are a significant driver of hospice providers’ interest in Georgia and Oklahoma. About 50.7% of Medicare descendants elected hospice in Georgia during 2017, whereas Oklahoma saw 49.1% utilization that year, according to the National Hospice & Palliative Care Organization. Utah leads the nation in utilization at 59.4%.