Hospice of the Western Reserve Acquires Stein

Ohio-based Hospice of the Western Reserve expects to acquire Stein Hospice, located in the city of Sandusky in its home state. Stein’s board of directors has signed a letter of intent to approve the sale, subject to an ongoing, customary due diligence process. Financial terms are undisclosed.

Western Reserve anticipates that the deal will close towards the end of the first quarter of the year. Even prior to discussions of this deal, the two providers have collaborated for decades. The acquisition builds Western Reserve’s footprint and density in the northern portion of the state, where Stein providers care in seven counties and additional surrounding areas. 

“Our organizations have been instrumental to the communities that we served for over 40 years,” said Jan Bucholz, Stein Hospice CEO. “This opportunity assures that high quality not-for-profit hospice care will not only survive but thrive in our communities.”

Headquartered in Cleveland, the nonprofit Hospice of the Western Reserve serves 1,200 patients daily across nine counties throughout northern Ohio, providing palliative care and hospice to adult and pediatric patients. The organization is a subsidiary of Western Reserve Care Solutions.

Western Reserve merged with the Hospice of Medina County in 2015, and the combined organization continues to offer services under both brands.

In recent years, Hospice of the Western Reserve has pursued growth through joint ventures with area health systems. The hospice launched a JV with University Hospitals in 2019. The partnership was designed to provide a continuum of individualized services for patients and their families, according to a statement.

Western Reserve is a founding member of the Care Solutions Network of Ohio, through which nonprofit hospices collaborate on back-office functions and matters such as physician contracting, on-call support and educational and technology resources.

Ohio in 2018 ranked sixth nationwide in hospice utilization with 56.7% of Medicare decedents electing the benefit, according to the National Hospice & Palliative Care Organization. Utah held the highest utilization rate at 60.5%.

“By coming together, we are confident that we can continue our shared mission of providing extraordinary care for patients and their loved ones,” Western Reserve President and CEO Bill Finn said of the Stein deal. “Our goal is to maintain high quality care in an increasingly competitive environment and to assure that patients and their loved ones in the Stein service area continue to have access to the best and most comprehensive end-of-life services.”