In an effort to counter widespread disruption in the health care space due to the ongoing pandemic, the U.S. Centers for Medicare & Medicaid Services (CMS) is expanding its accelerated and advance payment program for all Medicare Part A and Part B providers and suppliers. The program, typically implemented during natural disasters or other catastrophic […]
Charter Health Care Group, a portfolio company of the private equity firm Pharos Capital Group, has purchased St. Luke’s Home Hospice in Las Vegas and Phoenix-based Arizona Select Hospice for an undisclosed sum. Both of those providers were part of the VeraCare Hospice system. California-based Charter provides a range of post-acute care services that include […]
During the last several years, the hospice mergers and acquisitions market has luxuriated in an upsurge in volume and valuations. The market strength displayed throughout 2016-2018 continued through the boom quarters of 2019, and the M&A advisory firms’ outlook for 2020 was positive. As 2019 closed, however, the firms’ partners could not have anticipated the […]
Despite recent hits on the overall markets, hospice company revenues may be protected by the growing demand for their services. The U.S. stock markets took a major blow due to turmoil stemming from volatile oil prices and the continuing economic impact of the global COVID 19 outbreak. Monday’s drop — the worse since 2008 — caused […]
Hospice, home health and senior living provider the Pennant Group (NASDAQ: PNTG) saw significant growth in its hospice operations during 2019 and expects that trend to continue through 2020. The company’s hospice admissions rose 30% during 2019, coupled with a 26% increase in average daily census. The company’s fourth quarter 2019 average daily hospice census […]
Minnesota-based St. Croix Hospice has purchased Serenity Care Hospice in Harrison, Mo., for an undisclosed amount. St. Croix is a portfolio company of the Chicago-based private equity firm Vistria Group. The transaction marks St. Croix’s entry into the Missouri market. Serenity Care Hospice serves about 100 patients daily in five Missouri counties. Executive Director Stephanie […]
Cornerstone Healthcare, a subsidiary of hospice, home health and senior living company the Pennant Group (NASDAQ: PNTG), has purchased Montana-based Hospice of Missoula for an undisclosed amount, marking the company’s first foray into that state’s market. Pennant indicated that the company intended to seek out further acquisition opportunities throughout 2020, targeting strategic and underperforming organizations […]
Empath Health, owner of Suncoast Hospice, and Stratum Health, which operates Tidewell Hospice, plan to merge their two companies with an anticipated integration date of January 2023. The two Florida-based companies intend to build a combined, hospice-based integrated care network that would provide home- and community-based services to patients suffering from serious and chronic disease […]
After an active 2019 in the mergers and acquisitions market Louisiana-based home health and hospice provider LHC Group (NASDAQ: LHCG) has fixed its eyes on further growth in 2020 and beyond. LHC Group engages in M&A primarily through joint ventures with hospitals and health systems, which has been the company’s most active growth front. Though […]
The U.S. Centers for Medicare and Medicaid Services (CMS) has announced the capitation rates for hospice care under the value-based insurance design model (VBID), often referred to as the Medicare Advantage hospice carve-in. The agency indicated that medicare advantage organizations (MAOs) during the first month of a patient’s stay would receive Medicare A/B capitated payments, […]
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