BrightSpring Launches $1B IPO

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 $1 billion through the IPO. The company indicated its intent to go public on Tuesday in a U.S. Securities and Exchange Commission filing. The […]

BrightSpring Refiles to Go Public, Zeros in on $1 Billion Goal

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 […]

Trinity Health at Home to Shut Down Massachusetts Hospice, Home Health Agency

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 […]

How Does the Workforce Shortage Affect Hospice M&A?

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 […]

Amorem Consolidates Inpatient Units Due to Labor Pressures

The workforce shortage plaguing the health care sector is continuing to interfere with hospices’ ability to grow. Most recently, North Carolina-based provider Amorem has temporarily consolidated its inpatient care services to a single facility, temporarily closing its two other units. Amorem was born through the merger of Burke Hospice & Palliative Care and Caldwell Hospice […]

The Top 10 Hospice News Stories of 2021

This year was transformational for the hospice space. The industry took its first steps towards value-based payment through the hospice component of the value-based insurance design model, or Medicare Advantage hospice carve-in. Providers also saw an overhaul of the U.S. Centers for Medicare & Medicaid Services’ (CMS) survey process, all while contending with COVID-19 headwinds […]

Staffing Shortage Closes Iowa Hospice House

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 Acquires Dare County Home Health and Hospice

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 […]

Workforce Shortage Shutting Down Hospice Programs

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 […]

BrightSpring Moves Into Hospice Space with Abode Healthcare Acquisition

BrightSpring Health Services has purchased Abode Healthcare from Summit Partners with a reported valuation of $775 million, PE Hub reported. The transaction is projected to bring the combined company roughly $6 billion in annual revenue. Louisville, -based BrightSpring’s total value currently rests at approximately $10 billion. Brightspring is a portfolio company of the global investment […]