Growth in the number of Medicare Advantage beneficiaries will likely overtake that for traditional Medicare in 2025, according to new estimates from the U.S. Centers for Medicare & Medicaid Services (CMS). The agency projects that total MA enrollment will reach 35.7 million people following the open enrollment period slated to begin later this month, representing […]
The Federal Reserve cut interest rates by 0.5% on Wednesday, which will likely have an impact on hospice M&A. Interest rates have widespread implications for the hospice mergers and acquisitions market, particularly when it comes to private equity investments. PE firms, and some publicly traded companies, tend to finance their acquisitions by taking on debt. […]
Dallas-based Three Oaks Hospice has reportedly begun seeking a buyer. The private equity-backed hospice launched in 2019 with more than $21 million in investment dollars from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. Rumors of the potential sale were first reported by the website Ion Analytics, which indicated that Three Oaks […]
South Carolina-based Agape Care Group has acquired several Crossroads Hospice locations in four states. Agape, a portfolio company of the private equity firm Ridgemont Equity Partners, purchased sites in Oklahoma, Missouri, Kansas and Georgia for an undisclosed amount. Crossroads is retaining its locations in Tennessee, Ohio and Pennsylvania. “The addition of Crossroads Hospice solidifies our […]
As M&A in the for-profit space continues its two-year slump, nonprofits are consolidating in rising numbers. Recent years have seen an uptick in consolidation activity among nonprofits in the hospice space. Increasingly, nonprofits are pursuing acquisitions and affiliations, as well as forming regional collaboratives. In addition, some nonprofits have also been acquired by for-profit companies. […]
Two Maryland-based hospices, Hospice of Washington County and Gilchrist, have agreed to affiliate. The organizations, both nonprofits, indicated that the affiliation would enable their combined company to expand geographically and further extend their scope of services, while contributing to their financial strength, according to a press release. Together, they serve much of central and southern […]
BrightSpring Health Services Inc. (NASDAQ: BTSG) is poised for growth in the home health and hospice landscape. The company anticipates ramping up merger and acquisition (M&A) activity in coming years, with an emphasis on long-term return on investment, according to BrightSpring President and CEO Jon Rousseau. The company is focusing on significant expansion in the […]
BrightSpring Health Services (NASDAQ: BTSG) has completed its acquisition of the Florida-based nonprofit Haven Hospice for $60 million. The transaction includes the purchase of two brands, North Central Florida Hospice Inc. and Haven Medical Group LLC. BrightSpring anticipates that Haven will grow into a $15 million EBITDA business, CEO Jon Rousseau indicated in a second […]
Disruptive reimbursement and regulatory challenges are top of mind for today’s hospice c-suite executives, who recently sat down with Hospice News to discuss what they see as the largest hurdles to sustainable end-of-life care delivery. Reimbursement pressures and changes among the most significant concerns for today’s hospices, according to Kristen Yntema, president and CEO of […]
Hospice transactions are facing a new world of challenges during a time when M&A activity is projected to ramp up after recent lulls. More founders who began their organizations when the Medicare Hospice Benefit was established in the 1980s are reaching retirement. A large contingent will be seeking an exit strategy that will sustain their […]
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