Texas-headquartered Traditions Health, LLC has acquired Family Comfort Hospice in Scottsdale, Ariz. This will be the company’s fifth location in that state. Financial terms were undisclosed.
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 16 states.
“I am extremely excited to increase our presence in the Valley,” “David Klementz, president and CEO of Traditions. “We could not be more thrilled to welcome the employees and patients of Family Comfort into the Traditions family,”
Traditions Health has been active in the mergers and acquisitions market in recent years, completing close to a dozen transactions in 2019 and 2020. This activity has continued in 2021. Acquiring four companies in January, Traditions Health has continued a growth trajectory.
Last month Traditions purchased the Kansas City locations of Lumicare Hospice for an undisclosed sum. Lumicare operates in both the Kansas and Missouri sides of that metropolitan area. The transaction marked Traditions’ entry into both of those states.
The company earlier this year 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. Most recently Traditions bought Texas-based Area Community Hospice as well as AmeraCare Family Hospice and Home Health, located near New Orleans.
The company acquired Illinois-based Harbor Light Hospice at the close of 2020, and purchased Oklahoma-based Centennial Hospice for an undisclosed sum, and completed two deals in Sept. 2020, for Physician’s Choice Hospice and Palladium Hospice, as well as the purchase of Oklahoma-based Faith Hospice in August.
Arizona ranks third in the nation in hospice utilization. More than 58% of Medicare descendants in the state elected hospice during 2018, according to the National Hospice and Palliative Care Association.
About 18% of the state’s population is 65 and older per the U.S. Census Bureau. The Arizona Department of Health Services reported that this number is expected to increase to an estimated 21% by 2050.
Companies featured in this article:
Dorilton Capital Advisors, Family Comfort Hospice, Traditions Health
