Caring Brands International (CBI) has acquired Bluebird Care Master, a home care, hospice and personal care franchise company located in the Republic of Ireland. CBI is a portfolio company of Levine Leichtman Capital Partners (LLCP). Financial terms of the deal were not disclosed. The transaction gives CBI franchising rights throughout Ireland under the Bluebird Care […]
Cleveland, Ohio-based Hospice of the Western Reserve and its affiliate, Hospice of Medina County, have initiated staff layoffs and other cost cutting measures including the suspension of inpatient care at HMC’s Inpatient Care Center. The hospice cited increasing demand for hospice services, new regulatory requirements and declining Medicare reimbursements have led to reduced inpatient admissions. […]
Under the CARES Act enacted in March, many hospice providers nationwide received federal relief funding to provide monetary support as they reeled from the fallout of the coronavirus pandemic. As the U.S. Department of Health & Human Services (HHS) distributed millions of often unsolicited dollars from the Public Health and Social Services Emergency Fund, legal […]
Hospice and home health provider Traditions Health, LLC has acquired Tomball, Texas-based Hospice with Grace, expanding the company’s footprint in the Houston region. Financial terms of the transaction were not disclosed. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors that operates in Texas, California and Arizona. The hospice provider has been on […]
The hospice mergers and acquisitions market continued to be robust early in the first quarter of 2020 but took a sharp dive as companies shifted their attention towards responding to the COVID-19 pandemic and its economic fallout. A number of transactions, large and small, have occurred in May, which could signal a resurgence. The outlook […]
Change is coming for hospices in 2021 as the industry starts to shift towards value-based payment models, including the Primary Care First initiative. As the implementation dates for these programs approach, hospices need to identify the value proposition and revenue potential for each of the models that will fall under the auspices of that program. […]
As the novel coronavirus pandemic continues disrupting the business of hospice, many providers anticipate a decrease in annual revenues for 2020, according to recent research by the National Association for Home Care & Hospice (NAHC). Among the contributing factors to revenue drops is a decline in hospice patient admissions and referrals amid the public health […]
The Pennant Group, Inc. (NASDAQ: PNTG) has acquired Prime Hospice, located near Phoenix, and Harmony Hospice of Arizona in the northwestern region of that state. Financial terms for the transactions have not been disclosed. The company expects to complete a third acquisition in a matter of days, also in the Southwest. Pennant, which owns and […]
Early action to stave off the fallout of the COVID-19 pandemic has paid off for The Pennant Group (NASDAQ: PNTG), which saw substantial growth in its hospice business during the first quarter, even as the company gears up for the forthcoming acquisition of three affiliated hospice providers located in the southwestern United States. Post-acute providers […]
Home health and hospice provider LHC Group (NASDAQ: LHCG) is determined to cast a larger shadow on the hospice space this year and next, largely through acquisitions with joint venture partners. The company last December voiced its intention to double its hospice footprint nationally within 12 to 18 months, with a focus on co-locating hospice […]