The home health and hospice provider New Day Healthcare has acquired Texas-based Compassion Hospice for an undisclosed amount.
The transaction expands New Day’s footprint to 29 locations, concentrated in Texas, Missouri, Kansas and Illinois. The company’s nearly 6,500 employees serve close to 100,000 patients annually across all of its business lines, including home health, hospice, pediatrics, clinical decision support and personal care.
Compassion Hospice will not rebrand and will retain its current leadership.
“New Day Healthcare is pleased to welcome Compassion Hospice to our platform. Compassion provides us with a high-quality hospice operation in East Texas, where New Day currently has significant market share in both personal care and skilled care services,” New Day Chief Development Officer Matthew Griffith said in a statement. “This latest acquisition continues to prove New Day’s commitment to bringing together multiple home health service lines within markets to improve patient care coordination and outcomes.”
This was New Day’s ninth acquisition since the company was established in 2020. The following year, the company secured $55.5 million in financing from CIT Group (NYSE: CIT) designed to foster growth across its footprint.
Most recently, New Day acquired two companies, Pathfinder Home Health last October, as well as AdvantageCare Home Health in September. Financial terms for these deals were confidential. Both of those companies are headquartered in Texas.
Since its inception, New Day has been focused on innovation. The company’s CEO G. Scott Herman describes their approach using the motto, “Burn the ships.”
“We’re rethinking everything about home care delivery,” Herman told Hospice News’ sister site Home Health Care News. “Everything from operating and labor models, to infrastructure support, to contracting, and even around how we assess and close on acquisitions.”