Despite the challenges of the Patient-Driven Groupings Model and the Covid-19 pandemic, March is usually a good month for mergers and acquisitions in the Home Health & Hospice sector. To date, seven deals are on the books for the month and 19 for the first quarter. Two deals involved Bristol Hospice and Healthy Living Network, LLC, which traded assets in some western states.
Salt Lake City-based Bristol Hospice, a portfolio company of Webster Equity Partners, paid an undisclosed sum for Healthy Living Network’s Sojourn Hospice & Palliative Care, which runs eight programs in Salt Lake City, Sacramento, Freso, East Bay, San Jose, Modesto, Redding and San Diego. The Sojourn locations will be rebranded as Bristol Hospice.
As part of the transaction, Healthy Living Network will acquire the home health operations of Bristol Hospice that are located in Salt Lake City, Utah, and Porterville, California.
Healthy Living Network, a portfolio company of Martis Capital, is a network of 25 independently owned and operated home health and home care agencies in California, Oregon, Arizona, Nevada, Utah and Washington. Other investors include Lorient Capital and PCGI.
Bristol Hospice announced one deal earlier in the quarter. The agency paid an undisclosed amount for New Dawn Hospice in DeSoto, Texas. New Dawn provides home health and hospice services including physician services, skilled nursing, social services and more.
New Dawn was Bristol Hospice’s second in the state of Texas. It merged New Dawn’s operations with the Bristol Hospice location in Waxahachie.
