CommuniCare Health Services, Inc. acquired hospice and home health provider Stonerise, expanding CommuniCare’s reach in its home state of Ohio as well as West Virginia. CommuniCare now operates more than 110 health care centers across seven states. Terms of the deal were not disclosed.
The acquired company’s 3,000 employees will transition to CommuniCare, according to Stonerise CFO Jessica Hudson, who will be the division vice president overseeing CommuniCare’s health centers in West Virginia.
Established in 2009, Stonerise provides hospice, home health, transitional and skilled nursing care as well as therapy services to more than 2,000 patients across West Virginia and southeast Ohio.
CommuniCare is a provider of subacute care services to the long-term care, home health and rehabilitation markets in Ohio, Kentucky, Indiana and now West Virginia. It owns and leases long-term care and rehabilitation facilities.
According to the LevinPro HC database, this marks the 55th Home Health & Hospice (HH&H) transaction of 2022, a 21.4% decrease from the same period in 2021 when 70 deals were announced. Since the start of 2022, approximately 40% of HH&H deals have involved private equity, and four of the six HH&H transactions in June were made by private equity firms or their portfolio companies.
