Traditions Health, LLC, has named David Klementz as its new president and CEO. Klementz is transitioning into the role this month after more than 15 years at Encompass Health (NYSE: EHC), where he served as chief strategy officer.
Klementz will succeed Bryan Wolfe, co-founder of Traditions Health, who has led the company for the last 13 years. Private equity-backed Traditions Health is a portfolio company of the family-owned investment firm Dorilton Capital Advisors. Headquartered in College Station, Texas, Traditions provides hospice, home health care and consulting services to an estimated 5,000 patients across 14 states.
“I look forward to working closely with Bryan to continue to grow Traditions, and for Traditions to be the employer and provider of choice in the communities we serve,” said Klementz.
Klemetz comes to Traditions Health from Encompass, which is currently in the process of repositioning its hospice and home health business. The company is considering a potential sale or spin off of those service lines. April Anthony, CEO of home health and hospice at Encompass, recently announced she would be stepping down this summer.
Traditions Health has been active in the mergers and acquisitions market in recent years, completing 10 transactions in 2019 and 2020. The company acquired Illinois-based Harbor Light Hospice at the close of 2020, and purchased Oklahoma-based Centennial Hospice for an undisclosed sum a week after in mid-December. Traditions completed two deals on Physician’s Choice Hospice and Palladium Hospice in September that year, as well as the purchase of Oklahoma-based Faith Hospice in August.
This activity has continued in 2021. Acquiring four companies in January, Traditions Health has continued a strong growth trajectory into hospice and home health spaces. The company entered the Louisiana hospice market with the acquisitions of Grace Hospice & Palliative Care and Heritage Hospice early in the year, while also beefing up its home health operations in Oklahoma with the purchase of Traditions Home and Secure Home.
Wolfe, who co-founded Traditions Health when it began in 2008, will continue to serve on the company’s board of directors. He indicated in a recent announcement that he plans to continue to support the company’s development efforts during the leadership transition and going forward.
“It has been my desire and plan to eventually serve solely as a member of the Traditions Health board when the company was able to support this role,” Wolfe stated. “After much prayerful consideration and discussion with my family and my fellow board members, I feel this is the right time to make this transition.”