Gentiva has filed a lawsuit against Bristol Hospice alleging that a former employee violated agreements with the company, including those for noncompetition and confidentiality. The company filed the suit in a federal court in Maine. Gentiva alleges that a registered nurse administrator disclosed trade secrets after leaving the company and securing employment with Bristol. The […]
Addus HomeCare Corporation (Nasdaq: ADUS) has closed its $350 million acquisition of Gentiva’s personal care business. Gentiva’s personal care segment brings in annual revenues of close to $280.0 million. Post-transaction, Addus will continue with a leverage ratio of less than 3x, with the ability to further that amount with the influx of revenue resulting from […]
Gentiva in 2024 and 2025 is laser-focused on staff retention and building out its advanced illness management platform Illumia Health. Workforce shortages have plagued the hospice community for years, along with the health care sector at large. This has led to a sharpened focus among many providers on hiring and keeping employees, particularly when it […]
Gentiva has agreed to pay $19.4 million to resolve False Claims Act complaints that predate the company’s acquisition of Kindred at Home. The U.S. Justice Department alleges that Kindred at Home and related entities knowingly submitted false claims and retained overpayments for hospice services provided to patients who were ineligible. The federal government and the […]
Addus HomeCare Corporation (NASDAQ: ADUS) has entered into a definitive agreement to acquire Gentiva’s personal care business for about $350 million. Gentiva’s personal care segment brings in annual revenues of close to $280.0 million. Post-transaction, Addus will continue with a leverage ratio of less than 3x, with the ability to further that amount with the […]
Gentiva Health Services has committed to expanding its recently established Advanced Illness Management (AIM) palliative care model in 2024, including its unique approach to reimbursement. The company has its roots in the former Kindred at Home. Once among the nation’s largest home health and hospice providers, Humana Inc. (NYSE: HUM) acquired the company in 2021. […]
Though the number of hospice M&A deals plummeted in 2023 compared to prior years, deals are still being made, and the industry may see a rebound in 2024. Transaction volume declined in the hospice and home-based care space in 2023, following the two record-breaking prior years. Only three hospice deals took place in the third […]
VITAS Healthcare Expands Hospital-Based Inpatient Hospice Center Chemed Corp. (NYSE: CHE) VITAS Healthcare recently expanded its inpatient hospice care unit at the Florida-based Broward Health Medical Center. The inpatient facility now has 12 patient beds, up from eight prior to the renovations. VITAS expects to serve roughly 550 patients annually at the center. “VITAS is […]
Private equity firms typically turn around and sell an asset within three to five years post-acquisition. However, some may slow that cycle down in today’s economic environment. The presence of private equity firms in the hospice arena has expanded exponentially during the past several years. But this year, deal volume slowed across the board. While […]
ProMedica Shutters Two Home Health Locations ProMedica is shuttering two home health and hospice programs in Ohio and Michigan. The closures will take effect in November. The closures are part of the nonprofit health system’s strategic plans to divest its home health care services, the company indicated in a letter penned to the Ohio Department […]
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