Despite recent hospice and home-based care acquisitions involving health systems, such transactions are unlikely to become a common practice during 2021 and 2022. However, health systems are taking a closer look at companies that provide non-medical assistance to help seniors age in place. Firms that guide providers through the mergers and acquisitions processes are not […]
Empathy, a startup that develops applications to support bereavement care, has secured $13 million in seed money to grow its newly launched technology platform. Empathy received the funds from venture capital firms General Catalyst and Aleph. Hospice providers nationwide have had to reassess how they provide bereavement care due to the need for social distancing […]
Concord Regional Visiting Nurse Association has merged with Central New Hampshire VNA & Hospice. The combined organization will operate under the brand Granite VNA. Both providers are located in New Hampshire, serving a combined 82 communities in that state. Concord Regional was established in 1899 as the Concord District Nursing Association, whereas Central New Hampshire […]
Rising interest from special-purpose acquisition companies (SPACs) could make competition in an already active hospice M&A market more fierce in coming years. Like private equity and other investors, SPACs are drawn to hospice by surging demographic tailwinds from the aging population. SPACs are formed with the sole intent of raising capital for the purpose of […]
Advocate Aurora Enterprises has acquired home care company Senior Helpers for an undisclosed amount. While Senior Helpers is not a hospice provider, the company does provide end-of-life support services that work in tandem with hospices to offer an additional layer of assistance to patients. Advocate Aurora Enterprises is a subsidiary of Advocate Aurora Health, one […]
Minnesota-based St. Croix Hospice has entered the Illinois market through the acquisition of Hospice Care of America in the city of Rockford. Financial terms of the transaction were not disclosed. St. Croix’s approximately 800 employees care for more than 2,200 patients daily out of 39 locations in seven Midwestern states. The organization is a portfolio […]
The sale of Bristol Hospice by private equity backers Webster Equity Partners is moving into the second face of the acquisition process. The remaining bidders are all private equity firms, with strategic buyers stepping out of the process after the first round, which took place last week, PE Hub reported. Bids are reportedly reaching as […]
Private equity interest in the hospice sector has been gaining momentum in recent years, raising the stakes in hospice deals and stepping up competition for acquisition targets. Private equity transactions and an influx of new deals during 2021 could drive up hospice valuations that have already reached record highs. The hospice market remained extremely active […]
Hospices nationwide have been diversifying their services in recent years to capitalize on value-based payment models and to establish relationships with patients further upstream in the course of their illnesses. An increasing number of hospice providers are offering PACE, home-based primary care, and palliative care, among others. These programs will be essential for those considering […]
Headwinds stemming from a lack of access to senior housing facilities during the pandemic took a toll on hospice providers’ margins during 2020, but that market is expected to rebound as the year progresses. The pace of that change remains uncertain, according to Keven McNamara, president and CEO of Chemed Corp. (NYSE: CHE). Chemed is […]
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