Post-acute tech company Element5 has secured $15 Million in Series A funds. The company will invest these dollars in expanding the reach of its robotic process automation (RPA) and artificial intelligence solution. The Series A fund raises the company’s total capital raised to $18.5 million. Series A funding is typically a company’s first significant round of […]
Humana, Inc. (NYSE: HUM) has completed its purchase of Kindred at Home in an $8.1 billion transaction. The company obtained a 40% stake in Kindred in 2018. Through this transaction Humana gains the remaining 60% from private equity firms Welsh, Carson, Anderson & Stowe (WCAS) and TPG Capital. The price tag includes Humana’s equity value […]
Shiva Akula, 65, the owner of New Orleans-based hospice facility Canon Healthcare has been indicted by a grand jury for 23 counts of health care fraud for allegedly billing Medicare for services that were not medically necessary or were not provided at all. The U.S. Department of Justice has accused Akula of instructing Canon staff […]
Worsening workforce shortages have been keeping hospice leaders awake at night for several years running. Rising turnover due to the COVID-19 pandemic has exacerbated the crisis, and some hospice providers and health systems are starting to shut down their programs or sell off their operations because they cannot recruit or retain a sufficient number of […]
Jet Health has tapped Jake Massacci to become its vice president of human resources. A military veteran with more than a decade of HR experience under his belt, the Jet Health appointment marks his first entry into the hospice space. Most recently, he served as director of talent acquisition at HMS/Gainwell Technologies, which employs more […]
Hospice providers nationwide are reporting an increase in Medicare Administrative Contractor (MAC) audits pertaining to claims for general inpatient care (GIP) stays that are longer than seven days. These audits can be expensive and time consuming processes for hospices; some of whom say they fear that this practice will inhibit patient access to that level […]
The Visiting Nurse Service of New York (VNSNY) is partnering with Healthify to address social determinants of health for the patients and families they serve. Healthify’s platform is designed to help providers identify patients’ social needs and connect them with local support programs, including services related to meals, transportation, safe housing and other concerns. VNSNY […]
Post-acute provider Charter Health, a portfolio company of the private equity firm Pharos Capital Group, has purchased San Antonio, Texas-based Generations Hospice Care for an undisclosed amount. The transaction does not include the affiliated sister agencies Generations Hospice of Austin and Generations Visiting Practitioners. “Texas, from an overall population as well as a retirement community […]
The U.S. Senate Finance Committee is investigating private equity interest in the home health and hospice provider Kindred at Home. The move reflects growing concern among lawmakers about the impact of private equity’s involvement in hospice. The private equity firms Welsh, Carson, Anderson & Stowe (WCAS) and TPG Capital in 2018 acquired a combined 60% […]
The Pennant Group’s (NASDAQ: PNTG) acquisition strategy is fueling growth in both the near- and long-term for the company’s home health and hospice segment. Pennant has been very active in the M&A market during the past two years, with additional transactions waiting in its pipeline. Pennant, which owns and operates hospice provider Cornerstone Healthcare, was […]
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