Addus Primed for More Hospice Acquisitions Following Queen City Deal

Addus HomeCare Corporation (NASDAQ: ADUS) is actively pursuing additional hospice acquisitions in early 2021 even as it works to integrate its recent Queen City Hospice purchase in Ohio. In December 2020, the company bought Queen City and its affiliate Miracle City Hospice the private equity firm Stonehenge Partners for a cash purchase price of $192.0 […]

Kusserow: Amedisys Turned COVID-19 ‘Headwinds to Tailwinds’

Like many health care providers, Baton Rouge, La.-based Amedisys Inc. (NASDAQ: AMED) did not come out of 2020 unscathed by the coronavirus pandemic. Nevertheless, the company’s hospice segment grew during the outbreak and is anticipated to continue expanding, largely through acquisitions. Amedisys is benefitting from demographic tailwinds of the aging population and rising utilization that […]

Pennant Bullish on Hospice, Home Health Acquisitions

The Pennant Group (NASDAQ: PNTG) plans to be an active acquirer during 2021 with an emphasis on hospice and home health targets. The hospice, home health and senior living provider increased its revolving line of credit by $75 million to a total $150 million this week, pledging to apply those resources to buying new operations. […]

BrightSpring Moves Into Hospice Space with Abode Healthcare Acquisition

BrightSpring Health Services has purchased Abode Healthcare from Summit Partners with a reported valuation of $775 million, PE Hub reported. The transaction is projected to bring the combined company roughly $6 billion in annual revenue. Louisville, -based BrightSpring’s total value currently rests at approximately $10 billion. Brightspring is a portfolio company of the global investment […]

VITAS Struck by Disruption in Senior Housing, Expects 2021 Rebound

Disruption in the larger health care and aging services space adversely impacted VITAS Healthcare, a subsidiary of Chemed Corp. (NYSE: CHE), during 2020. This is particularly due to difficulty accessing patients in nursing homes, assisted living and senior housing operations, as occupancy drops due to the pandemic. The company expects some of that disruption to […]

Five Wisconsin Hospices Form Collaborative to Bolster Payer Relationships

Five Wisconsin hospice and palliative care providers have formalized a partnership to maximize their scale and negotiating power with payers in value-based payment models. The current focus of the new organization, called the Wisconsin Hospice & Palliative Care Collaborative (WHPCC), is reimbursement contracts for palliative care, using the term supportive care management.  WHPCC has incorporated […]

Pennant Group Boosts Credit Facility to Fuel Acquisitions

The Pennant Group (NASDAQ: PNTG) has increased its revolving line of credit by $75 million to a total $150 million. The company indicated the bulk of the additional credit would be used for acquisitions, including hospice and home health assets.  Pennant, which owns and operates hospice provider Cornerstone Healthcare, was spun in 2019 off from […]

Perfect Health, Concerto Merge, Offer Palliative Care

Senior care provider Perfect Health is merging with home care company ConcertoHealth. The combined operation, branded as ConcertoCare, is backed by the private equity firm Deerfield Management Co., and will offer community-based palliative care in addition to a range of other services.  ConcertoCare is a tech-enabled, risk-based integrated care company that provides palliative care, home-based […]