BrightSpring Health Services Inc. (Nasdaq: BTSG) is seeing financial and operational tailwinds propelling the company’s growth, with hospice and home health key focal points in its strategic outlook.

Hospice and home health have been, and will continue to be, crucial parts of the company’s suite of health care services as demand swells among aging populations, according to BrightSpring President and CEO Jon Rousseau.

The company has fueled investments in workforce development, operational efficiencies and expanding its geographic footprint. These efforts have driven both business growth and improved patient outcomes, Rousseau said during an earnings call on Friday.

“Our hospice business continues to display a solid growth profile with great patient satisfaction,” he said. “We like home health and hospice a lot. We expect both businesses to continue to grow volume at double digits, and we continue to invest in operational technology and efficiency centralization opportunities in those businesses as well. That will continue to be the focus.”

BrightSpring is a home- and community-based health care services platform that serves more than 400,000 patients daily across all 50 states. The Louisville, Kentucky-based company provides hospice, home health, primary care, rehabilitation, pharmaceuticals, behavioral and home health.

The company had an adjusted EBITDA of $151 million in the third quarter, up from $131 million during the prior year’s same period.

BrightSpring’s overall revenue reached roughly $2.9 billion in Q3, representing a 28.8% year-over-year increase. The company’s health care provider services segment brought in $641 million in revenue during the third quarter, with the home health care revenue at $265 million and community and rehab care revenue at $376 million. Provider segment EBITDA was $93 million for Q3 2024, up 14.4% year over year.

BrightSpring went public earlier this year following a Jan. 3 filing with the U.S. Securities and Exchange Commission, with a $1 billion initial public offering (IPO).

The company’s strategic plans in part hinge on three pillars. First, BrightSpring focuses on expanding its reach to patient populations with complex needs in large markets. Second, the company focuses on growing census volume and increasing recurring revenue through quality and marketing efforts, along with the establishment of de novos and acquisitions. Third, the company seeks to build scale with a suite of diversified services, according Rousseau.

BrightSpring currently has three to four smaller home health and hospice tuck-in acquisitions within its pipeline, Rousseau stated. The company has plans to launch roughly 10 to 20 de novos, particularly focusing on home health, hospice and rehabilitation growth in new and adjacent markets across its geographic service region, he added.

Most recently, BrightSpring last month completed its acquisition of the Florida-based nonprofit Haven Hospice for $60 million. The transaction included the purchase of two brands, North Central Florida Hospice Inc. and Haven Medical Group LLC. The company anticipates that Haven will grow into a $15 million EBITDA business.

“We continue to operate and expand in large and growing markets of significant need where we can best serve patients with essential high quality services,” Rousseau said. “M&A focus and de novo expansion remain a focus at BrightSpring. We continue to have a strong acquisition engine and healthy pipeline that, if converted, would augment the organic growth profile of the company.”

BrightSpring shares were up about 15% as the regular trading day drew to a close on Friday, at $17.26.