Texas-based Silverstone Hospice has acquired Comfort Care Hospice in the Dallas-Forth Worth region. Comfort Care will be renamed under the Silverstone brand and will soon being offering home health and palliative care services in addition to hospice. Silverstone CEO Alfonso Montiel will also lead the Comfort Care location. Prior to Silverstone, Monteil established a $150 […]
Category: Finance
LHC Group, Inc. (NASDAQ: LHCG) has agreed to acquire Tulsa-based Grace Hospice of Oklahoma for $12.1 million. This is the company’s second hospice acquisition this week. On Nov. 9 the company announced that it would purchase two Mesa, Ariz.-based providers, East Valley Hospice and East Valley Palliative Care. LHC Group’s acquisition strategy is focused on […]
The Pennant Group (NASDAQ: PNTG) is investing heavily in the growth of its hospice business both through acquisitions and de novo activity during the remainder of the year and into 2021. Pennant set itself on a strong trajectory in 2020 with two start-up locations and four hospice acquisitions thus far. Pennant, which owns and operates […]
Addus HomeCare Corporation (NASDAQ: ADUS) has entered into a definitive agreement to acquire Queen City Hospice, LLC, and its affiliate Miracle City Hospice, for a cash purchase price of $192.0 million. Queen City is a portfolio company of the private equity firm Stonehenge Partners. The purchase price includes $162.8 million of value, net of the […]
LHC Group, Inc. (NASDAQ: LHCG) will acquire two Mesa, Ariz.-based providers, East Valley Hospice and East Valley Palliative Care, expected to become effective on Jan. 1, 2021. This deal is consistent with LHC Group’s strategy of expanding its hospice business in markets in which the company already has a home health presence. LHC Group President […]
Affinity Hospice Holdings, a portfolio company of MBF Healthcare Partners II, L.P. has entered into a definitive purchase agreement to acquire Hands of Mercy Hospice of South Carolina. The deal marks Affinity’s first foray into the South Carolina hospice market, where the company plans continued expansion. Affinity, based in Birmingham, Ala., also operates in Georgia […]
Home health and hospice provider LHC Group (NASDAQ: LHCG) has stretched further into the hospice market with accelerated merger and acquisition activity through joint venture partnerships and organic growth during 2020’s third quarter. Joint ventures form the cornerstone of LHC Group’s hospice mergers and acquisitions strategy, with an emphasis on co-locating hospices in markets where […]
Interest in the hospice mergers and acquisitions market will remain high despite record-high multiples occurring in the space, April Anthony, CEO of Encompass Home Health & Hospice (NYSE: EHC), said at the Hospice News Elevate conference. Encompass expects to complete hospice transactions late in 2020 or early in 2021 after seeing some deals delayed early […]
The COVID-19 pandemic pummeled Brookdale Senior Living’s (NYSE: BKD) hospice segment during the third quarter, despite seeing growth earlier in the year. While patients do not have to be residents of Brookdale’s senior living communities to use their health care services, that is where the company obtains most of its hospice business. With widespread disruption […]
Dale Mackel has been appointed the new chief financial officer and treasurer of the hospice and home health mammoth LHC Group, Inc. (NASDAQ: LHCG). Mackel replaces Robert Williams, who stepped into the role in June when former CFO Joshua Proffitt became LHC Group’s president. According to a regulatory report, LHC Group announced that Williams withdrew […]