The Texas-based home-based care provider New Day Healthcare has acquired the home health agency Patient Recovery Home Healthcare Services in Houston. Financial terms were undisclosed.
The transaction marks New Day’s 14th successful acquisition to date and comes approximately one month after it acquired Christian Senior Care, also in Houston. Patient Recovery Home Healthcare has been in operation for 15 years and will not rebrand post-acquisition. The company’s current staff will remain in place, according to New Day.
“New Day is pleased to welcome Patient Recovery Home Healthcare to our expanding home care platform,” said Matthew Griffith, chief development and strategy officer for New Day, in a statement. “Patient Recovery Home Healthcare, along with Christian Senior Care Services which we acquired earlier this year, provide New Day with needed density, brand recognition and talent to grow in an ultra-competitive Houston market.”
New Day now provides the full continuum of its home care services to patients in the Houston area and views the market as critical to its long-term growth strategy, the company indicated in a press release. It is pursuing additional growth in the Dallas-Fort Worth metroplex, San Antonio and Austin, Texas.
Similar to national demographic trends, a growing aging population is driving demand for hospice in Texas. Seniors 65 and older represent 13.8% of the Lone Star State’s overall population, according to the U.S. Census Bureau.
Hospice utilization among Medicare decedents 52.23% in Texas in 2022, reported the National Alliance for Care at Home. Hospice utilization rates hovered at 49.1% nationwide that year.
New Day Healthcare provides hospice, home heath, pediatrics, clinical decision support and personal care to more than 150,000 patients annually from 33 locations across Texas, Missouri, Kansas and Illinois.
“New Day’s value creation model is based on providing the continuum of services while leveraging our proprietary CareLytics software to best monitor patients and to fill care gaps,” said Griffith. “The Houston metro area, along with Dallas-Fort Worth, San Antonio and Austin, provide the needed density and growth potential to align our clinical care models and improve patient outcomes.”
Companies featured in this article:
New Day Healthcare, Patient Recovery Home Healthcare Services