Addus HomeCare Expands in New Mexico
Addus HomeCare Corporation announced last week the $29 million acquisition of Armada Skilled Home Health & Hospice in New Mexico. Armada currently serves an average daily census of approximately 1,100 patients for home health services and 100 patients for hospice care, with primary coverage across Bernalillo County and surrounding counties. It has $23 million in annualized revenue. This deal expands Addus’ presence in New Mexico, an important market for the company. It is yet another step toward the company’s mission to expand its home health, hospice, and personal care lines in specific regions and states, as it did in Ohio in November when it bought Queen City Hospice for... Read More »
Amedisys Buys Contessa Health
The home health and hospice giant Amedisys, Inc. (NASDAQ: AMED) is back with a new deal. Earlier in July, the company announced it was buying Contessa Health, which specializes in hospital-at-home and skilled nursing facility at-home services, for $250 million, or about 3.9x Contessa’s forecasted 2022 revenues of $64 million. And Amedisys expects that by 2025, revenues will grow by 118%. This is a good opportunity for Amedisys because it gives the company a larger foothold in the in-home services market, increasing its Total Available Market (TAM) from $44 billion to $73 billion, and provides a myriad of new services such as analytics, underwriting and care coordination. Perhaps most... Read More »
LHC Group Buys Heart ‘n Home Hospice
The leading home health and hospice provider LHC Group, Inc. (NASDAQ: LHCG) is back with a new acquisition. The company is buying Heart ‘n Home Hospice, which has a total of six locations in southwestern Idaho and four locations in central and eastern Oregon. It also operates under the Treasure Valley Hospice brand. LHC Group is a leading national provider of in-home healthcare services and the joint venture partner of choice for 350 hospitals in the U.S. The acquisition marks LHC’s initial entry into hospice services in the state of Oregon and expands its existing hospice footprint in Idaho. LHC Group expects annualized revenue from this purchase to reach approximately $20 million... Read More »
Traditions Health Acquires Two Home Health Agencies
It’s been a busy year for Traditions Health, the private equity-backed home health company. So far, the agency has announced five transactions this year, the fifth last week for two different companies, Area Community Hospice and AmeraCare Family Hospice and Home Health. No terms were disclosed. Area Community is a hospice provider with locations in Plainview and Lubbock, Texas, and AmeraCare is a longstanding home health and hospice provider in the greater New Orleans area, servicing patients for over 20 years through multiple sites. The acquisition of Area Community expands Traditions’ reach to West Texas and strengthens an expansive and growing presence in the state. The acquisition... Read More »