Nearly a year after shying away from becoming an initial public offering (IPO), BrightSpring Health Services Inc. has allegedly re-filed, this time with a much higher valuation. The company, which does not yet have a stock symbol, raised the bar from when it initially filed in October 2021 with a $100 million listing. BrightSpring later […]
Massachusetts-based health system Trinity Health will close its home health and hospice program in the West Springfield community in September, laying off 60 employees in the process. These services operate under the brand Trinity Health at Home. The health system recently notified the Massachusetts Executive Office of Labor and Workforce Development of the impending closure […]
The legislature of Oswego County in New York state has voted to close its hospice agency within a year. The county’s hospice program is the latest casualty of the nursing shortage that has rendered a number of organizations unsustainable. Like many providers nationwide, the Oswego agency has been plagued by nurses resigning, leaving them with […]
The labor pressures in the hospice community are straining clinical operations, but the issue is also becoming a more pressing concern when it comes to mergers and acquisitions. Buyers, in fact, are paying much closer attention to workplace culture and human resources as they select acquisition targets. Hospice M&A has been exploding in recent years […]
Industry consolidation has been robust in the hospice space, with deal volume and valuations outpacing other health care industry sectors. Most of these transactions involve one for-profit company buying another. However, more instances are cropping up in which a for-profit agency purchases a nonprofit hospice. While individual nonprofits have grown in recent years, in aggregate […]
An Iowa hospice provider is closing its inpatient hospice house as of Dec. 31 due to the industry-wide staffing shortage. The organization will continue to provide care in patient homes, skilled nursing and assisted living facilities. The name of the organization is simply, “Hospice,” which serves Davis and Wapello Counties in the southeast portion of […]
BrightSpring Health Services is pursuing an initial public offering (IPO) and expects to begin trading on the NASDAQ. The company, which does not yet have a stock symbol, seeks to raise $100 million through the IPO. BrightSpring is a home and community-based health care services platform. The company entered the hospice space in February with […]
Brightspring Health Services has announced the acquisition of Dare County Home Health and Hospice in North Carolina. Dare County officials told Hospice News that the sale price was $2.9 million following a round of bidding that began last year. Four companies bid on the home health and hospice agency for amounts ranging from $200,000 to […]
Worsening workforce shortages have been keeping hospice leaders awake at night for several years running. Rising turnover due to the COVID-19 pandemic has exacerbated the crisis, and some hospice providers and health systems are starting to shut down their programs or sell off their operations because they cannot recruit or retain a sufficient number of […]
The hospice workforce has been dwindling even as demand for care rises. Factors such as retirement and burnout are leading some clinicians to leave the field, and the limited number of health care workers with hospice and palliative care training have made the industry an employee’s market. Becoming an employer of choice in their markets […]
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