South Carolina-based Agape Care Group has acquired several Crossroads Hospice locations in four states.
Agape, a portfolio company of the private equity firm Ridgemont Equity Partners, purchased sites in Oklahoma, Missouri, Kansas and Georgia for an undisclosed amount. Crossroads is retaining its locations in Tennessee, Ohio and Pennsylvania.
“The addition of Crossroads Hospice solidifies our decision to expand into the Kansas, Missouri and Oklahoma markets, where we have spent more than a year building the infrastructure to support this acquisition,” said Troy Yarborough, CEO of Agape Care Group, in a statement. “We welcome the talented team members from Crossroads and look forward to focusing on care delivery and better serving patients in the Kansas City, St. Louis, Lenexa, Warrensburg, Oklahoma City and Atlanta markets.”
Hospice News / RoboToasterThe former Crossroads locations in Kansas, Missouri and Oklahoma locations will operate under the ACG Hospice brand, while the Georgia location will be branded as Georgia Hospice Care. The M&A firm Provident Healthcare Partners advised Crossroads on the sale.
“The culture of Agape Care Group is everything we envisioned in an acquisition partner,” said Perry Farmer, CEO of Crossroads Hospice, in a press release. “Their clinical quality and operational success give us great comfort and we expect the Crossroads staff to integrate seamlessly with the Agape Care team in these markets.”
Agape Care Group’s 2,000 employees serve roughly 5,000 patients in nine states. The company operates several hospice brands, some attained through acquisitions — Agape Care South Carolina, Georgia Hospice Care, Hospice of the Carolina Foothills in North Carolina and ACG Hospice in Alabama, Kansas, Louisiana, Missouri, Oklahoma and Virginia.
The company is no stranger to acquisitions.
Last summer, Agape Care Group acquired two hospices for undisclosed sums — Birmingham, Alabama-based Hope Hospice and Assured Hospice in Cartersville, Georgia. In late 2022, the company expanded into Alabama and Louisiana with a transaction for Journey Hospice.
Also that year, Agape completed deals to acquire GHC Hospice in South Carolina and Georgia Hospice of the Carolina Foothills. Financial terms for each of these transactions were undisclosed.
Agape has its sights set on multi-state expansion. M&A is one of three primary areas of focus for the company in 2024, according to Yarborough.
“In terms of what’s guiding [Agape’s M&A strategy], we’re looking for creative opportunities to buy good cultures, good businesses that fit into our family and help either densify in the markets that I’ve outlined or help us enter the states that I outlined in the Southeast quadrant,” he previously told Hospice News. “If we have an opportunity to enter one of those additional states, we’ll look at that seriously.”
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