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 […]
Hospice revenues at Brookdale Senior Living (NYSE: BKD) are up nearly 18% in the second quarter largely due to same-store admissions growth and de novo activity, the company reported in an earnings conference call. Hospice accounted for much of growth in the company’s Health Care Services segment, outstripping quarterly percentage gains for its home health […]
Cornerstone Healthcare, Inc., the hospice and home health subsidiary of The Ensign Group, Inc. (NASDAQ: ENSG), has acquired the assets of Tucson, Ariz.-based Agape Hospice and Palliative Care. Financial terms were not disclosed. Agape will not rebrand as a result of this transaction and will retain staff and management. The hospice will become part of […]
The hospice and home health care companies for the third quarter in a row have seen the highest multiples of any health care sector in merger and acquisitions transactions, reaching 22.7x in the second quarter of 2019, according to auditing and consulting firm PwC. These high valuations for hospice and home health acquisitions come in […]
Hospice and palliative care providers who opt to participate in Medicare’s new Primary Care First Models would have to apply to Medicare Part B in order to receive reimbursement, the agency announced in a webinar providing new details on the program’s Seriously Ill Population (SIP) payment option. A participating hospice would be considered a physician […]
St. Louis-based hospice, home health and palliative care provider Nurses & Company, Inc. has finalized a transaction with home health organization Home Assist, LLC, through which the company will absorb most of Home Assist’s staff, customer relationships and chronic disease care programs. Financial terms were not disclosed. Home Assist is expected to cease operations in […]