Patient populations who experienced longer lengths of stay boosted hospice margins by as much as 20% during 2016, according to a new report from the Medicare Payment Advisory Commission (MEDPAC). Financial data in the MEDPAC report reflects the first year of data following 2016 revisions to the Medicare payment system for hospice. The final rule […]
Pittsburgh-based health care software company Net Health has agreed to purchase electronic medical record (EMR) solutions firm Optima Health Solutions for an undisclosed amount. The companies expect the transaction to close later this month. Upon closing, Optima will begin operating under the Net Health brand. The company develops cloud-based EMR systems designed for hospice, contract […]
Palo Alto, Cailf.-based advanced care planning solution developer Vynca has secured $10.3 million in Series B funding from First Trust Capital Partners, OCA Ventures and Spectrum Health Ventures, in addition to other individual investors. Previous Vynca investors such as Generator Ventures and Ziegler LinkAge Longevity Fund also contributed to the sum. The startup plans to […]
Ascend Hospice, a subsidiary of New Jersey-based Ascend Health, is entering the Puerto Rico market through the acquisition of Grace Hospice, which has operations across the island of Puerto Rico, for an undisclosed sum. The business will operate under its new name, Grace Hospice Puerto Rico, and will provide hospice care to those with terminal […]
Cornerstone Healthcare, Inc., the hospice and home health subsidiary of the Mission Viejo, Calif.-based health care firm The Ensign Group, Inc.(NASDAQ: ENSG), effective June 1 acquired the assets of Wisconsin-based hospice, home health, and therapy provider Preceptor Health Care. Financial terms were not disclosed. With this acquisition, Ensign operates 27 hospice agencies, in addition to […]
Tennessee-based nonprofit Alleo Health System has acquired private duty firm Comprehensive Care, which operates in nine Tennessee counties. Financial terms of the transaction were not disclosed. Comprehensive Care, a privately owned for-profit company will transition to nonprofit status following the acquisition’s closing and will be rebranded as Comprehensive Care-Alleo Health System. Comprehensive Care provides companion […]
JourneyCare, the largest non-profit, community-based hospice and palliative care provider in Illinois, has acquired Northwestern Memorial HealthCare’s home health and hospice operations for an undisclosed sum. The transaction closed June 1. The purchase extends JourneyCare’s hospice and palliative care footprint in the Chicago metropolitan area to three new counties, for a total of 13, and […]
All signs point to a strong showing for hospice mergers and acquisitions through the year and into 2020 as companies and investors shy away from home health in anticipation of potential fallout from the forthcoming patient-driven groupings (PDGM) model. Eight hospice acquisitions took place during the first quarter of 2019, up from seven transactions during […]
Brookdale Senior Living Inc., (NYSE: BKD) is expanding its hospice business primarily through de novo activity, including expansion into new markets. Brookdale recently opened hospices in San Jose, Calif., and Detroit, and plans to open a Portland, Ore., location in the second quarter of this year, a company spokesperson told Hospice News. The company currently […]
Commissioners in Halifax Country, N.C., have begun to process of selling the publicly funded Home Health and Hospice of Halifax, due to unsustainable declines in revenue stemming largely from stepped up private sector competition. Prior to the sale, the county must approve a pending resolution authorizing the sale, then hold a public hearing on the […]