Humana To Sell Majority Stake in Kindred at Home Hospice to CDR
Humana Inc., one of the largest health insurance companies in the United States, has signed a definitive agreement to sell a majority stake in Kindred at Home’s hospice and personal care businesses to New York-based private equity firm Clayton, Dubilier & Rice (CDR) for $2.8 billion. CDR is acquiring a 60% stake in the Kindred at Home personal care and hospice divisions, and Humana will retain the remaining 40%. Humana had previously acquired 40% ownership of Kindred in 2018, with the private equity firms Welsh, Carson, Anderson & Stowe (WCAS) and TPG Capital holding the remaining 60%. Last year, Humana bought out the two firms’ shares for $5.7 billion, and quickly announced plans... Read More »
Parentis Health Expands Continuum of Care Services for Seniors with Pop-in Care Acquisition
Parentis Health, a Laguna Hills, California-based healthcare company focusing on senior care, has acquired Pop-in Care, a licensed home healthcare company catering to seniors, individuals with disabilities and those recovering from surgeries or other acute illnesses. Financial terms of the transaction were not disclosed. Parentis already offers several services for seniors, including home care, home health, hospice, and transportation services under the Parentis brand, and residential care, under its Verona Court brand. But its CEO Health Tarek A. El Nabli recognized the gap filled by Pop-in Care, which specializes in short visits, without minimum hourly or weekly time or visitation... Read More »
UnitedHealth Group Buys LHC Group, Inc. in $6 Billion Deal
March almost came and went without any major M&A news, but then UnitedHealth Group announced it was buying LHC Group, Inc., one of the largest home health providers in the nation. The deal is being completed through Optum, a significant part of UnitedHealth Group. LHC is going for $170 per share, or $5.4 billion in cash. With debt included, that brings the deal’s total to $6 billion. Based in Lafayette, Louisiana, LHC Group, Inc. is a national provider of in-home healthcare services and innovations for communities around the nation, offering quality, value-based healthcare to patients primarily within the comfort and privacy of their home or place of residence. The company’s... Read More »
Bristol Hospice acquires Hope Hospice in First Deal of 2022
Bristol Hospice, a hospice services provider based in Salt Lake City, Utah, announced the acquisition of Missouri-based Hope Hospice, a locally-owned, community based hospice provider, for an undisclosed sum in the company’s first deal of the year, and marks Bristol’s entry into the Missouri market. This acquisition follows nine acquisitions during 2020 and 14 in total since private equity firm Webster Equity Partners purchased Bristol Hospice in 2017. Hope Hospice in St. Louis was established in the early 2000s. Discussions of a possible sale began in late 2020 with its M&A advisors Agenda Health. The deal reflects the growing importance of established community relationships and... Read More »