Cornerstone Acquires Resolutions Hospice

Cornerstone Healthcare Inc., a subsidiary of The Ensign Group (NASDAQ: ENSG), as of May 1 acquired the assets of Texas-based Resolutions Hospice for an undisclosed amount. Cornerstone subsidiaries now operate 26 hospice operations, 25 home health operations, and nine other home care operations across 12 states. Prior to this transaction Resolutions Hospice was a family-owned […]

Rising Admissions Drive Amedisys Q1 Hospice Results

Rising hospice admission numbers led Baton Rouge, La.-based Amedisys Inc. (NASDAQ: AMED) to robust earnings in the first quarter of 2019. The rise in admissions includes both same-store and those associated with acquisitions. Same-store hospice admissions for Q1 2019 rose 5% to 9,711 patients, up from 6,933 in the first quarter of 2018. Average daily […]

VITAS Margins Solid Despite Admissions Drop

VITAS Healthcare, the largest hospice provider in the United States, showed positive margins for the first quarter of 2019 despite a decline in admissions, according to a quarterly earnings report from its parent company, Chemed Corp. (NYSE: CME). VITAS’ gross margins for routine home care services reached 52.7 percent during the first quarter, a 60 […]

Acquisitions Boost Encompass’ Hospice Revenue Nearly 69%

Encompass Health Corp.’s (NYSE: EHC) hospice component grew net operating revenues nearly 69 percent between the first quarter of 2018 and Q1 2019, propelled by acquisitions and a rise in same-store admissions. Revenue for Encompass’ hospice business—included in its Encompass Health-Home Health & Hospice segment—rose to $34.4 million in Q1 2019, up from $20.4 million […]

South Carolina Hospice to Sell Inpatient Unit

Hospice of Rutherford County, Inc., doing business as Hospice of the Carolina Foothills (HOCF), has signed a letter of intent to sell its inpatient unit to Agape Hospice. The organizations will not release financial terms until completion of the due diligence period. Under the letter of intent Agape Hospice has agreed to continue operation of […]

North Carolina Nonprofit Hospices Merge

The Hospice of Randolph County (HRC) and Hospice of the Piedmont (HOP), both in North Carolina, will merge effective Sept. 30, the second large nonprofit hospice merger in the region this year. HRC will continue doing business as Hospice of Randolph County, a subsidiary of Hospice of Piedmont, pending regulatory approvals and approval from the […]

Amedisys Acquires Tulsa Hospice Provider RoseRock Healthcare

Amedisys, Inc. (NASDAQ: AMED) has acquired all the assets of Tulsa, Okla.-based RoseRock Healthcare, a provider of specialized hospice care to approximately 220 patients daily in northeastern Oklahoma, for an undisclosed sum. “Whether we’re delivering care at a patient’s bedside, supporting our clinical team or educating the community on the hospice benefit, hospice isn’t just […]

Encompass Health Agrees to Purchase Alacare for $217.5 Million

Encompass Health Corp. (NYSE: EHC) has entered into a definitive agreement to purchase all of the assets of privately owned Alacare Home Health & Hospice for $217.5 million. With this acquisition, Encompass Health will become the 10th largest U.S. hospice provider, based on Medicare reimbursements. EBITDA multiples were not disclosed. Birmingham, Ala.-based Alacare operates 23 […]

Two New York Hospice Providers Merge

The Hospice of Central New York and Hospice of the Finger Lakes have merged and will operate under the Hospice of Central New York brand, though Hospice of the Finger Lakes will continue to work under that name in Cayuga County. Hospice of Central New York expects to see a 40 percent increase in their […]