Dallas-based Three Oaks Hospice has acquired Peace Hospice & Palliative Care in Naperville, Ill., for an undisclosed amount. Relatively new to the hospice arena, Three Oaks opened its doors in May 2019 and jumped quickly into the mergers and acquisitions market with the September purchase of three hospices in the company’s home state of Texas. […]
Investors and companies seeking strategic acquisitions are showing rising interest in an already booming hospice M&A market as they await the fallout from home health care’s transition to the Patient Driven Groupings Model (PDGM), according to an analysis by Provident Healthcare Partners, an investment bank focused on the middle market in the health care space. […]
Marshall, Minn.-based Prairie Home Hospice & Community Care has agreed to purchase Fieldcrest Assisted Living, located in nearby Cottonwood, Minn. Assisted living is a growth area for hospice. Between 2011 and 2019 hospice utilization overall rose by 35%; however, hospice utilization in assisted living facilities increased by more than 100%, according to a 2019 report […]
Hospice led the charge on mergers and acquisitions during 2019. Dollar amounts for hospice transactions surpassed those in similar markets such as home health care, even though fewer deals occurred last year in the hospice, home health care and home care spaces than in 2018, according to a new quarterly M&A report from advisory firm […]
Hospice Care of South Carolina (HCSC) has completed the acquisition of Spartansburg, S.C.-based Agape Hospice for an undisclosed sum. HCHC is a portfolio company of The Vistria Group, a private investment firm located in Chicago. The combined company’s more than 800 employees care for a patient population that exceeds 1,400 people throughout 46 South Carolina counties. […]
Multiples in the home care and hospice space reached as high as 26x EBITDA during 2019, the most significant rise for any health care sector. The space also saw positive growth in market capitalization, according to PwC’s Health Research Institute. The hospice M&A market continues to go strong despite declines in the number of deals […]
LHC Group, Inc. (NASDAQ: LHCG) and its joint venture partner Ochsner Health System have completed the acquisitions of five Egan Home Health and Hospice locations in Louisiana, as well as the purchase of Bryant, Ark.-based Saline Memorial Hospice with its joint venture partner LifePoint Health. Financial terms for both transactions were not disclosed. LHC Group […]
Amedisys, Inc. (NASDAQ: AMED) has closed its purchase of Asana Hospice for an undisclosed amount. Asana Hospice, which operates eight locations in Pennsylvania, Ohio, Missouri, Kansas and Texas, has an average daily census of 540. Following closure of this transaction, Amedisys hospice portfolio will rise to 146 locations in 33 states. “Since our founding, Asana […]
Traditions Health, LLC has purchased privately owned Round Rock, Texas-based Guiding Hospice, growing the company’s footprint in the Austin area. Financial terms of the transaction were not disclosed. Traditions is a portfolio company of family-owned investment firm Dorilton Capital Advisors. This is the latest in a string of acquisitions by Traditions Health, which operates in […]
LHC Group, Inc. (NASDAQ: LHCG) and its joint venture partner Ochsner Health System have agreed to acquire five Egan Home Health and Hospice locations in Louisiana. Financial terms of the transaction were not disclosed. The companies launched the joint venture, called Southeast Louisiana HomeCare, in 2009. The Egan deal is expected to close on Jan. […]