Agape Care Group Acquires GHC Hospice
Agape Care Group, a portfolio company of private equity firm Ridgemont Equity Partners, announced on September 14 its acquisition of Jesup, Georgia-based GHC Hospice, which serves 25 counties in Georgia and South Carolina. Terms of the deal were not disclosed. Together with GHC Hospice, Agape Care Group and its affiliates serve more than 85% of the counties in Georgia. GHC Hospice will continue to operate under its current name in the near term. Based in Spartanburg, South Carolina, Agape Care Group is a hospice and palliative care provider in the Southeast. The company has 1,450 employees caring for 3,600 patients in South Carolina, Georgia and North Carolina. This marks Agape Care... Read More »
CVS Dives into HH&H Market With $8 Billion Signify Health Acquisition
The retail pharmacy and healthcare giant CVS Health has struck an $8 billion deal to acquire Signify Health, one of the largest home health companies in the U.S. CVS will pay shareholders of Signify Health $30.50 per share. CVS Health expects to fund the transaction with existing cash from its balance sheet and other available resources. Private equity funds affiliated with New Mountain Capital, which owns approximately 60% of the common stock of Signify Health, have agreed to vote the shares they own in favor of the transaction. Signify Health’s network of clinicians, physicians, nurse practitioners and physician assistants utilize home-based visits to identify a patient’s clinical... Read More »
The Pennant Group Acquires Ardent Hospice
The Pennant Group, Inc., the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, announced on Aug. 16 that it acquired Ardent Hospice and Palliative Care in San Diego. Terms of the deal were not disclosed. Ardent Hospice and Palliative Care offers home health care, serving between 20 and 50 hospice patients per day. The company received its Medicare certification in 2013. Headquartered in Eagle, Idaho, The Pennant Group, Inc. is a holding company of independent operating subsidiaries that provide healthcare services through 94 home health and hospice agencies and 49 senior living communities in 14 states. Its home health and... Read More »
CommuniCare Health Services Acquires Stonerise
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.... Read More »