As hospices prepare for Medicare Advantage, more nonprofits are finding that creating partnerships or entering affiliations will better position themselves for payer negotiations. Nonprofit hospice affiliations have surged in 2022 and 2023. This is in addition to the creation of several regional collaborative networks and the formation of new Accountable Care Organizations (ACOs). The gradual […]
Category: Finance
The Pennant Group Inc. (NASDAQ: PNTG) has acquired Guardian Hospice and Guardian Hospice of Oklahoma for an undisclosed amount. Guardian Hospice of Oklahoma received Medicare certification in 2015 and has since grown its presence in the state and across Texas. Guardian provides hospice care in 10 counties in southern Oklahoma and across six counties in […]
The hospice, palliative care and personal care provider Gentiva has acquired the hospice, home health and palliative assets of the nonprofit health system ProMedica. Though Gentiva did not disclose the financial terms of the transaction, Bloomberg reported that ProMedica’s Heartland Hospice is valued at $710 million. Heartland Hospice is headquartered in Toledo, Ohio, with locations […]
Though the acquisition market has slowed down this year for home-based care companies, Addus HomeCare Corp. (NASDAQ: ADUS) remains on the hunt. The most prominent home-based care transactions so far this year have involved payers seeking to acquire large providers with multiple business lines. Addus has been among the few publicly traded companies that have […]
Though its temporary bonus program has ended, VITAS Healthcare has built on the momentum it created with accelerated hiring and corresponding gains in capacity. VITAS is a subsidiary of Chemed Corp. (NYSE: CHE). The bonus program, which ended in July, included a one-time retention payment that ranges from $2,000 to $15,000 per employee for nurses, […]
As Amedisys Inc. (NASDAQ) awaits the outcome of its pending acquisition by Optum, the company showed only modest gains in its hospice segment. Both admissions and average daily hospice census were down in the third quarter of the year, 6% and 2%, respectively, compared to Q3 2022. Net service revenue for the segment reached slightly […]
The hospice merger and acquisition (M&A) space has seen an increasingly diverse and growing mix of investors during the last five years. Demographic tailwinds are pushing a wider range of stakeholders into the hospice and palliative care realms. This has led to more hospitals, payers, large health systems and home health companies to make end-of-life […]
Aetna, a subsidiary of CVS Health (NYSE: CVS), is leveraging a series of new benefits that, coupled with existing palliative care programs and ongoing hospice payment demonstrations, promise to keep patients in their homes and out of facilities. The new benefits are heavily focused on making medications affordable and addressing social determinants of health. Beneficiaries […]
Montgomery Hospice & Prince George’s Hospice has signed a memorandum of understanding to affiliate with Virginia-based Blue Ridge Hospice. The move could signal the start of a new hospice collaborative in the mid-Atlantic region. Combined, the two hospices would care for an average daily census of more than 900 patients in eight Virginia counties and […]
Recent regulatory moves aimed at greater transparency and consistency in the structure of joint venture valuations may impact how hospices approach these partnerships. The Financial Accounting Standards Board (FASB) recently introduced a new rule that will require newly formed joint ventures (JVs) to disclose the net value of each participating asset at the onset of […]