Hospice providers are charging ahead with merger and acquisition transactions this year despite taking a few financial punches from the COVID-19 pandemic. While the larger health care M&A market saw more disruption, hospice activity proceeded apace according to a new report from Provident Healthcare Partners. Acquisitions in the health care services sector slowed significantly in […]
Hospice and home health provider LHC Group (NASDAQ: LHCG) is doubling down on hospice expansion through the last half of the year. Having voiced its intention to double its national hospice footprint last December, the company expects to cast a wider net in 2020 through acquisitions with joint venture partners. Similar to many providers across the country, […]
Hospice and home health provider Traditions Health, has expanded to markets in two new states with the acquisitions of Faith Hospice of Oklahoma and Embrace Hospice of Georgia. Traditions purchased both providers from Diversified Health Care for an undisclosed sum. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. Prior to these […]
Massachusetts-based Community Visiting Nurse Association (VNA) will merge with HopeHealth, headquartered in Rhode Island. The two nonprofits intend a non-cash affiliation expected to complete in January 2021. The two organizations provide hospice, home health and palliative care in southeastern New England. VNA will rebrand as HopeHealth Community VNA. The merging organizations have plans for future […]
The proposed HEALS Act currently before Congress would allocate an additional $25 billion to the Provider Relief Fund, a program that moves federal dollars to health care organizations struggling with the fallout of the pandemic, including hospices. The full price tag for the legislation could reach more than $1 trillion, though congressional negotiations are ongoing. […]
A rise in patient census pulled up revenues for hospice provider VITAS Healthcare, a subsidiary of Chemed Corp. (NASDAQ: CHE) in the second quarter, despite declining admissions and rising expenses stemming from the COVID-19 pandemic. In addition to VITAS, Chemed owns the plumbing company Roto-Rooter. The company’s average daily census reached 19,195 patients during the […]
Encompass Health (NASDAQ: EHC) in the second quarter overcame the financial onslaught brought on by the COVID-19 pandemic, despite millions of dollars in increased costs for personal protective equipment (PPE), supplies, and increased paid time off and paid leave for staff. Things started to look up for Encompass in Q2, propelled by demographic tailwinds and […]
Patients who receive hospice earlier saved an average of $14,000 in health care costs during the last three months of life compared to patients who were admitted for a mid-term stay, according to new research from health care data analytics firm Trella Health. Patients who did not elect hospice accrued $27,455 more in health care […]
Multiples in the hospice and home care space reached 29x thus far in 2020, beating 2019’s record high of 26x, according to a recent research report by PwC’s Health Research Institute. Hospice and home health merger and acquisition activity has buoyed results in the larger health care services sector, which saw transactions decline during the […]
Trusty Care, a New York City-based firm that offers health care and financial planning solutions for seniors facing serious illness, has obtained more than $25,000 worth of free legal services through a competition organized by End Well, a nonprofit that seeks to improve the end-of-life experience in the U.S. health care system. End Well sponsored […]
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