The long term care company Mission Health Services has acquired Utah-based Angel’s Crossing Home Hospice. Mission is a nonprofit provider of nursing home, assisted living, short term care, memory care and therapy services. The M&A advisory firm Agenda Health facilitated the transaction. Financial terms were undisclosed. The deal marks Mission’s first foray into the hospice […]
Four nonprofit hospices have affiliated with Chapters Health System, expanding the Florida-based hospice and senior services provider to three new states. The agreement includes Hospice of East Bay and Hospice of Santa Cruz County in California, as well as Nathan Adelson Hospice in Las Vegas and Willamette Vital Health in Oregon. This marks Chapters first […]
Amedisys Inc. (NASDAQ: AMED) and UnitedHealth Group (NYSE: UNH) planned to meet with the U.S. Department of Justice (DOJ) this week to discuss their pending acquisition. However, DOJ has reportedly postponed any decisions until after the election. The postponement makes a DOJ lawsuit to block the deal less likely, though not impossible, before the Oct. […]
Executives from UnitedHealth Group (NYSE: UNH) and Amedisys (NASDAQ: AMED) reportedly will meet with U.S. Justice Department officials in an effort to seal their pending deal. Amedisys has indicated that it expects the deal to close in Q4. However, the Justice Department (DOJ) has been making inquiries into the transaction and reportedly has been considering […]
The private equity firm Martis Capital may soon acquire Dallas-based Three Oaks Hospice for a price tag ranging from $150 million to $160 million. Rumors of the potential sale appeared today in an Axios report, in which unnamed sources reportedly confirmed the deal. The Nashville-based investment and management company Petra Capital currently owns Three Oaks […]
St. Francis Reflections Lifestage Care and Treasure Coast Health on Tuesday completed their affiliation, a move nearly a year in the making after the two Florida-based nonprofits signaled they would join forces. Combined, the two organizations provide hospice and palliative care to more than 7,000 patients annually across Brevard, Martin, St. Lucie and Okeechobee counties […]
The Federal Reserve cut interest rates by 0.5% on Wednesday, which will likely have an impact on hospice M&A. Interest rates have widespread implications for the hospice mergers and acquisitions market, particularly when it comes to private equity investments. PE firms, and some publicly traded companies, tend to finance their acquisitions by taking on debt. […]
Dallas-based Three Oaks Hospice has reportedly begun seeking a buyer. The private equity-backed hospice launched in 2019 with more than $21 million in investment dollars from Granite Growth Health Partners, Health Velocity Capital and Petra Capital Partners. Rumors of the potential sale were first reported by the website Ion Analytics, which indicated that Three Oaks […]
South Carolina-based Agape Care Group has acquired several Crossroads Hospice locations in four states. Agape, a portfolio company of the private equity firm Ridgemont Equity Partners, purchased sites in Oklahoma, Missouri, Kansas and Georgia for an undisclosed amount. Crossroads is retaining its locations in Tennessee, Ohio and Pennsylvania. “The addition of Crossroads Hospice solidifies our […]
As M&A in the for-profit space continues its two-year slump, nonprofits are consolidating in rising numbers. Recent years have seen an uptick in consolidation activity among nonprofits in the hospice space. Increasingly, nonprofits are pursuing acquisitions and affiliations, as well as forming regional collaboratives. In addition, some nonprofits have also been acquired by for-profit companies. […]
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