On January 26, Arkansas Hospice, the largest hospice care provider in Arkansas, announced that it had acquired First Choice Senior Care, a locally-owned and operated company offering home care services in the Little Rock, Arkansas area. Financial terms of the transaction were not disclosed.
First Choice Senior Care (FCSC) is the premier non-medical, home care company in Little Rock, Arkansas. FCSC provides companion services, personal care and other programs to address the nonmedical needs of the aging and seriously ill.
Arkansas Hospice is a nonprofit organization based in North Little Rock, Arkansas. Arkansas Hospice cares for nearly 600 patients daily from 10 locations and three inpatient facilities in 43 counties in its home state, including a number of rural and remote areas of the state. The organization was founded in 1992.
Post-acquisition, FCSC will operate as a subsidiary of Arkansas Hospice, offering services in patient residences, as well as senior housing, skilled nursing and assisted living facilities. FCSC co-founder Kayla Bogle will join Arkansas Hospice in a management role.
The First Choice purchase marks Arkansas Hospice’s first entry into the nonmedical personal care space, a growing sector among senior services industries. The personal care sector is ripe for disruption with an opportunity to leverage technology and data to drive quality, improve efficiency and drive out waste. Estimated industry-wide growth in the personal care space is expected to reach between 9% and 14% by 2024, or about $100 billion, Home Health Care News reported.
Demographic tailwinds will likely continue to fuel both the hospice and nonmedical home care markets. According to the U.S. Census Bureau, about 17% of Arkansas’ population of more than 3 million are 60 years of age and older. Additionally, more than 27% of adults age 50 and older in Arkansas are in poor or fair general health. The Arkansas Department of Human Services expects the senior population to grow by 72% between 2000 and 2030. If this prediction holds water, we expect demand for home health and hospice services to continue to grow to address the needs of a progressively aging demographic.
