Gentiva, backed by Clayton, Dubilier & Rice, LLC (CD&R) and Humana, Inc., announced on February 28 that it acquired ProMedica’s Heartland home health and hospice assets for $710 million. The deal is expected to close in the second quarter of 2023.
This acquisition will allow Gentiva to expand its footprint from 380 locations to 500 locations, and its patient census from 25,000 to 34,000.
In addition to its home-based care and hospice capabilities, ProMedica has 12 hospitals, more than 2,500 physicians, a health plan, assisted living facilities, skilled nursing centers, memory care communities and outpatient rehab clinics.
Gentiva is a network of family hospice, palliative and personal care providers. CD&R owns a 60% stake in the company and paid $2.8 billion in 2022. Gentiva was founded in 2010 and is based in Atlanta.
According to data captured in the LevinPro HC database, this acquisition marks the 13th Home Health & Hospice (HH&) transaction of 2023. This is an approximate 32% decrease from the same time frame of 2022 when 19 HH&H acquisitions were reported.
