More Medicare beneficiaries are electing hospice than ever before, and they are generally receiving care for longer periods of time, according to the Medicare Payment Advisory Commission (MEDPAC). As the commission reports these gains, MEDPAC continues to recommend to Congress a 20% reduction in the aggregate cap for hospice payments. During 2019, hospice utilization among […]
Addus HomeCare Corporation (NASDAQ: ADUS) has acquired personal care provider SunLife HomeCare in Tucson, Ariz., for an undisclosed amount. SunLife brings in annualized revenues of $2.6 million. Expansion has been a priority for Addus as the company seeks to build a home health and hospice footprint that matches its personal care operations, its largest business […]
Traditions Health, LLC, has acquired Illinois-based Harbor Light Hospice, a multi-state provider of hospice services, for an undisclosed amount. The acquisition strategically expands the Traditions Health footprint into several new key markets. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. Headquartered in College Station, Texas, the company provides hospice, home health […]
Hospices that provide palliative care have found that issues surrounding referral management were the most significant hindrance to the financial stability of their programs, according to research conducted by the National Hospice & Palliative Care Organization. Close to 50% of a statistically significant sample of 328 providers indicated in a survey that referral management was […]
Two nonprofit organizations, Iowa City Hospice and the Visiting Nurse Association of Johnson County, are in the process of merging. The combined company’s service lines will offer a continuum of care from birth through the end-of-life. VNA Executive Director Sue Novotny is retiring, and Iowa City Hospice Executive Director Karla Kamal will take the helm […]
Durable medical equipment (DME) provider Hospice Source, which primarily services the hospice market, has purchased DME company Superior Healthcare, Inc. of Martinez, Calif. Financial terms were not disclosed. Hospice Source is a portfolio company of Dallas-based Transition Capital Partners, family office-funded private investment firm founded in1993. The firm is affiliated with the Patterson Thomas Family […]
While a growing demand for end-of-life care has been a major force pushing hospice to the forefront of the health care mergers and acquisitions marketplace, evolving payment models and COVID-19 headwinds have been hurdles to building up investor interest in 2020. Despite the unknowns ahead, hospice market is expected to burgeon. Among the various sectors […]
Hospice Cleveland County in North Carolina is merging with Hospice & Palliative Care Charlotte Region. The combined company will serve 23 counties throughout North Carolina and South Carolina. In conjunction with the merger, the hospices are creating a philanthropic foundation that will support area nonprofits, educational institutions and work by government agencies. Hospice Cleveland County […]
Post-acute care company AccentCare will merge with Rosemont, Ill.-based Seasons Hospice & Palliative Care. The combined company will provide a full continuum of home-based health care services, including hospice, palliative care, home health care and personal care. AccentCare is a portfolio company of the private equity firm Advent International, which purchased the provider from Oak […]
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 […]
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