Jet Health Expands in Texas with Blessings Hospice Acquisition

Jet Health has announced the acquisition of Arlington, Texas-based Blessings Hospice for an undisclosed sum, boosting its presence in an increasingly competitive market. The deal expands the company’s footprint in its home state.

The transaction marks the eighth overall acquisition for Jet Health – and its fifth hospice deal – since its founding in 2016.

The company has been on an upswing in hospice expansion in recent years. In July it acquired San Antonio-based Signal Home Health & Hospice, also purchasing Hospice de la Luz in New Mexico earlier in 2021. The company grew its reach in California during 2020 with the acquisition of Carrington Hospice Care, and also expanded in Idaho with the purchase of First Choice Home Health & Hospice the previous year.

Funding for Jet Health’s latest transaction was provided by SV Health Investors and Health Enterprise Partners, while Stradling Yocca Carlson & Rauth acted as legal counsel.

Acquiring Blessings Hospice will broaden the hospice and home health provider’s footprint throughout Texas, according to Jet Health CEO Stacie Bratcher.

“The acquisition of Blessings Hospice allows Jet Health to expand its services in a rapidly growing market where we currently serve patients,” said Bratcher. “We will seamlessly incorporate Blessings Hospice into our thriving network as we strive to continually make a difference in more lives through our services offering.”

Jet Health is headquartered in Fort Worth, Texas, and operates five locations across the state, as well as in Colorado, Idaho and New Mexico. In addition to hospice and home health, Jet Health provides skilled nursing care, rehabilitation therapy services, medical social services and personal care services.

The Blessing Hospice acquisitions continues the company’s plans to beef up its business by co-locating new hospice operations with their home health services to boast a larger continuum of home-based care.

Founded in 2019, Blessings Hospice’s service region spans 19 counties across Texas, where hospice utilization runs high among Medicare decedents. The Lone Star state’s hospice rate hit 52.1% during 2018, ticking above the national average of 50.3% that year, according to the National Hospice and Palliative Care Organization.

“Jet Health is the perfect partner for Blessings Hospice. Their mission, approach and focus on patient-centric care is directly in line with that of our organization,” said James Santiago, Blessing’s founder and owner. “With Jet Health’s resources and operational acumen, we can now touch many more patients throughout the Dallas/Fort Worth area.”

Texas is projected to have a surging demand for hospice as the aging population swells, making the state ripe for market growth. Currently adults 65 and older make up 12.9% of the state’s population, according to the U.S. Census Bureau, which projected that the number of seniors would rise up to more than 20% by 2030.

Texas is among the top three states across the country that is home to roughly a quarter of the nation’s older Americans, according to a 2020 report from the Population Reference Bureau. The other two include California and Florida.