The durable medical equipment (DME) provider National HME has acquired Hospice Source, also a DME company.
The transaction beefs up National HME’s footprint, which currently includes more than 50 locations nationwide. The Texas-based company developed its Hospice Cloud Pro technology platform to facilitate consolidated equipment ordering and provide clients with data on utilization, cost trends, and network management for reporting and analytics.
“We are thankful for the new health care provider relationships created through this acquisition and we are excited for the opportunity to provide exceptional services through our national platform and leading Hospice Cloud Pro technology,” said Jeffrey Waldman, chairman and CEO of National HME, in a statement. “The entire National HME organization, along with our new team members from Hospice Source, who we are thrilled to welcome, are committed to enabling a comforting and compassionate patient experience.”
Hospice Source is a portfolio company of Dallas-based Transition Capital Partners, family office-funded private investment firm founded in1993. The firm is affiliated with the Patterson Thomas Family Office. Hospice Source operates 62 locations across multiple states.
The company has a history of completing its own acquisitions, including the 2020 purchase of California-based Superior Healthcare, also a DME provider. The following year, Hospice Source acquired Respiratory Therapy Home Care in Bellflower, Calif. Financial terms for both of these deals were undisclosed.
Medicare in 2020 spent $11.2 billion on durable medical equipment across all settings, according to the U.S. Department of Health and Human Services, about 1.35% of the nation’s health care expenditures.
