Mansfield, Texas-based home health provider AngMar Medical Holdings Inc., has entered the hospice space with the acquisition of its first agency, located in Wichita, Kan. The location will operate under AngMar’s new brand, Angels Care Hospice. Financial terms of the acquisition were not disclosed. The name of the acquired hospice in Wichita is confidential per […]
Hospice and home health care provider Addus HomeCare Corporation (NASDAQ: ADUS) has completed a $130 million purchase of Birmingham, Ala.-based Hospice Partners of American, LLC. The $130 million purchase price represents $118 million of value, net the present value of $11.6 billion of estimated tax benefits, according to Addus. The Hospice Partners transaction was funded […]
Private equity firm Towerbrook Capital Partners and health system Ascension Health have agreed to purchase the Nashville-based hospice provider Compassus at a valuation of $1 billion, with multiples of EBITDA in the low teens, PEHub.com reported. The two companies will split ownership of Compassus down the middle, each holding an equal stake, according to PEHub.com. […]
Effective revenue cycle management can reduce hospice claims denials, particularly those associated with billing or documentation errors. In addition to slowing down payments or losing revenue, submitting inadequate or incomplete required written documentation is a sure-fire way to bring surveyors or auditors to a hospice’s doorstep. As regulators increasingly fix their eyes on the hospice […]
Hospice providers that participate in the Primary Care First initiative’s Seriously Ill Population Model could see gross margins in excess of 20% to 25%, according to experts in health care payment models. The U.S. Centers for Medicare & Medicaid Services (CMS) in April announced that they would implement Primary Care First in phases beginning in […]
LHC Group Inc. (NASDAQ: LHCG) plans to aggressively grow its hospice business through mergers and acquisitions and de novos, with a focus on co-locating hospice operations in markets where they already have an established home health presence, the company’s Chief Financial Officer Josh Proffitt told attendees at the Baird 2019 Healthcare Conference in New York. […]
The hospice mergers & acquisitions market continues to be robust. Fourteen hospice transactions took place during the second quarter of 2019, up from eight hospice-related acquisitions during the first quarter, according to a report from M&A advisory firm Mertz-Taggart. The hospice merger and acquisitions market has been thriving in recent years, with several top providers […]
St. Paul, Minn.-based St. Croix Hospice has expanded its footprint in the Wisconsin market with the acquisition of Hometown Hospice & Homecare for an undisclosed amount. St. Croix is a subsidiary of the Chicago-based investment firm Vistria Group. Hometown, headquartered in the town of Brookfield, operates three hospice and home health care locations in eastern […]
A 9.6% percent increase in admissions drove strong second quarter earnings results for LHC Group’s (NASDAQ: LHCG) hospice segment. The segment saw the highest rate of admissions growth among the company’s service lines during the second quarter, exceeding the home health segment’s 9.1% rise. LHC Group currently operates 104 hospice locations nationwide, representing 10.2% of […]
LHC Group, Inc. (NASDAQ: LHCG) along with joint venture partner Capital Region Medical Center (CRMC) have completed an acquisition of a Mexico, Mo.-based hospice agency from nonprofit health system SSM Health. The purchase also included two home health agencies, also based in Missouri communities. Financial terms of the deal were not disclosed. The three acquired […]