Massachusetts-based Advanced Home Care has acquired Dignity Hospice Care for an undisclosed amount.
The transaction follows Advanced Home Care’s acquisition of Dignity Home Care late last year. The buyer company’s CEO Art Kalenjian will now take the helm at Dignity Hospice.
“With this acquisition, we are able to provide a more complete continuum of care,” Kalenjian said in a press release. “Now, seniors in our community can also receive end-of-life support in the Advanced Home Care, based in Framingham, Massachusetts, provides a range of home care services, including hospice and several disease-specific programs for patients with cancer, Alzheimer’s, Parkinson’s disease and other conditions.
The first patients at the newly acquired Dignity Hospice were able to access the new hospice program in May, according to the press release.
Seniors older than 60 represent the fastest-growing segment of the Massachusetts population. More than a quarter of the state’s residents will be 60 or older by 2030, according to U.S. Census Bureau projections. This would be a 33% increase from 2012.
More than 32,200 Medicare decedents elected hospice in Massachusetts in 2021, according to the U.S. Centers for Medicare & Medicaid Services (CMS). California had the highest number that year with upwards of 156,000 and Alaska had the lowest at 1,122 patients.
Hospice M&A has been in a downturn thus far in 2023 compared to the previous three years, though a rebound may occur during the final two quarters.
Close to 14 hospice, home care and home health transactions were reported during the first quarter of 2023, according to recent data from Mertz Taggart. Only about 4 or 5 were hospice deals.
One contributing factor is that following a large spate of deals in 2021 and 2022 — fewer quality hospices are left on the market, the Mertz Taggart report indicated.