VITAS, Gentiva, Home Health & Hospice Care Expand Inpatient Services; Banner Health Shutters Hospice Programs in Phoenix

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 […]

How PE Firms Are Adjusting Hospice Exit Strategies in a Shifting Market

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 […]

2023’s Most Impactful Hospice Deals

A rich mix of hospice merger and acquisition (M&A) activity at the end of 2023 is fueling trends into next year. Hospice M&A activity has diverged from the frenzied pace set in recent years. The hospice space in the last five years has seen record-breaking multiples, a prevalence of private equity-backed platform transactions and large-scale […]

ProMedica Scales Down Operations; New Inpatient Facilities Open at Beacon Hospice, Holy Name Medical Center, The Hansen House

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 […]

Hospice of Northwest Ohio Buys ProMedica’s Ebeid Hospice Residence Operations

Hospice of Northwest Ohio is buying the operations of ProMedica Ebeid Hospice Residence. Terms of the transaction, expected to close on or before Oct. 31, were not disclosed. ProMedica’s Ebeid Hospice Residence is a 12-bed inpatient facility that opened in 2008, attached to ProMedica’s Flower Hospital campus. Ebeid offers short-term care for hospice patients with […]

The Most Significant Hospice Deals So Far in 2023

Thus far in 2023, hospice merger and acquisition activity has deviated from prior years. This year is distinctive because of factors such as valuations, asset sizes and the mix of buyers. A number of trends have shifted. The last five years saw record-breaking multiples in the hospice space and private equity-backed platform deals were among […]

Regulatory Pressures Contributing to M&A Slump

Regulatory challenges have contributed to the hospice sector’s current M&A slump, but this year’s volume nevertheless aligns with experts’ forecasts. In addition to those pressures, the industry is also in a cooling period in which companies focus on integrating the assets that many acquired during flurries of activity in 2021 and 2022, according to Mark […]

New CMOs for Hospice of the Chesapeake, Care Synergy; HopeWest Taps New VP

Hospice of the Chesapeake Appoints New CMO Maryland-based Hospice of the Chesapeake recently named Dr. Marny Fetzer as its new chief medical officer. Fetzer is currently system medical director for palliative care and hospice services at Illinois-based Ascension Health. She will step into the role at Hospice of the Chesapeake in July, alongside seeking a […]

‘There Are Fewer Quality Targets on the Market’: Hospice Transaction Activity Plummets

Hospice transaction activity has plummeted to its lowest level in years, new dealmaking data suggests. That’s no surprise, as many anticipate health care investors to operate with a more conservative approach in 2023. The cooldown, experts note, is partly due to inflation reaching multi-decade highs, uncertainty in the banking world and credit markets drying up. […]