Kain Capital LLC, a New York-based private equity firm, announced on November 18th both the formation of a new holding company for hospice investments, PERA Holdings, and the completion of the new platform’s acquisition of a majority stake in Hospice Care of America (HCA).
The HCA acquisition marks PERA Holdings’ first acquisition. Terms of the deal were not disclosed.
Founded in 2004 and headquartered in Kansas City, HCA offers quality hospice services and has operations in Oklahoma, Kansas, Missouri and Colorado. HCA also operates Colorado Palliative & Hospice Care, Missouri Palliative & Hospice Care, Kansas Palliative & Hospice Care and Oklahoma Palliative & Hospice Care.
PERA Holdings is a centralized national, operating company that acquires and operates regional hospice and palliative care companies. PERA Holdings was established by Kain Capital to make a series of regional acquisitions of leading hospice companies where existing managers are seeking capital, advanced technology capability and additional management resources to enhance and grow their hospice offerings.
According to the LevinPro HC database, this marks the 99th Home Health and Hospice (HH&H) transaction of 2022 and the 19th in the home hospice and palliative care subsector. Since January, 40% of all HH&H transactions have been carried out by private equity firms and/or their portfolio companies, and 68% of all deals in the home hospice and palliative subsector have been backed by private equity.
