Analysts project that employer health insurance costs could rise by as much as 12% during 2020 as a result of the COVID-19 outbreak. A jump of that size could hit the hospice industry hard, with smaller, community-based organizations being most vulnerable. The firm of Willis Towers Watson conducted an actuarial analysis of self-funded employers to […]
While the federal government is making billions of dollars available to health care providers through the CARES Act and other programs, the lion’s share of those funds and equipment is going to hospitals, often leaving providers in other settings out in the cold, including hospice. Hospitals nationwide unquestionably are taking a tremendous hit due to the […]
Missouri Home Hospice, LLC, has purchased Moberly, Mo.-based hospice and home health provider HomeCare of Mid Missouri. Financial terms of the transaction were not disclosed. Missouri home is on a growth trajectory even amid the COVID-19 crisis. The HomeCare transaction is the company’s fourth acquisition in the past nine months. “In each community we enter, […]
Bristol Hospice has acquired the Utah and California locations of Sojourn Hospice & Palliative Care, a Healthy Living Network company, for an undisclosed amount. Bristol Hospice is a portfolio company of the investment firm Webster Equity Partners. The acquired operations include eight Sojourn locations that will rebrand as Bristol Hospice. As part of the transaction, […]
In an effort to counter widespread disruption in the health care space due to the ongoing pandemic, the U.S. Centers for Medicare & Medicaid Services (CMS) is expanding its accelerated and advance payment program for all Medicare Part A and Part B providers and suppliers. The program, typically implemented during natural disasters or other catastrophic […]
Charter Health Care Group, a portfolio company of the private equity firm Pharos Capital Group, has purchased St. Luke’s Home Hospice in Las Vegas and Phoenix-based Arizona Select Hospice for an undisclosed sum. Both of those providers were part of the VeraCare Hospice system. California-based Charter provides a range of post-acute care services that include […]
During the last several years, the hospice mergers and acquisitions market has luxuriated in an upsurge in volume and valuations. The market strength displayed throughout 2016-2018 continued through the boom quarters of 2019, and the M&A advisory firms’ outlook for 2020 was positive. As 2019 closed, however, the firms’ partners could not have anticipated the […]
Despite recent hits on the overall markets, hospice company revenues may be protected by the growing demand for their services. The U.S. stock markets took a major blow due to turmoil stemming from volatile oil prices and the continuing economic impact of the global COVID 19 outbreak. Monday’s drop — the worse since 2008 — caused […]
Hospice, home health and senior living provider the Pennant Group (NASDAQ: PNTG) saw significant growth in its hospice operations during 2019 and expects that trend to continue through 2020. The company’s hospice admissions rose 30% during 2019, coupled with a 26% increase in average daily census. The company’s fourth quarter 2019 average daily hospice census […]
Minnesota-based St. Croix Hospice has purchased Serenity Care Hospice in Harrison, Mo., for an undisclosed amount. St. Croix is a portfolio company of the Chicago-based private equity firm Vistria Group. The transaction marks St. Croix’s entry into the Missouri market. Serenity Care Hospice serves about 100 patients daily in five Missouri counties. Executive Director Stephanie […]