Care Advantage Expands in Virginia with Nova Home Health Care
Care Advantage announced this week that it has acquired Nova Home Health Care. The acquisition expands Care Advantage’s Northern Virginia footprint — a market that CEO Tim Hanold believes is an important one for current and future growth. Based in Fairfax, Virginia, Nova Home Health Care is a Medicare and Medicaid certified, locally owned and operated home health care agency. Care Advantage, a portfolio company of private equity firm Searchlight Capital Partners since 2021, is one of the largest privately held home healthcare providers in Virginia. It provides private duty nursing and personal care services. The company is Medicare certified. “Northern Virginia is one of the... Read More »
National HME Acquires Hospice Source
National HME announced on December 5 that it has acquired Hospice Source, an Irving, Texas-based provider of hospice medical equipment to hospice patients and facilities. National HME is a leading provider of durable medical equipment (DME) solutions and services to hospice and alternate sites of care. This acquisition expands National HME’s footprint, with added capacity to offer services and solutions to hospices and their patients across the United States. Financial terms of the deal were not disclosed. According to data captured in the LevinPro HC database, this acquisition represents the 86th Home Health & Hospice transaction of 2023, as well as the 20th... Read More »
A Historical Slowdown: Mertz Taggart’s Q3 2023 Home-Based Care M&A Report
The latest Home-Based Care M&A Report from Mertz Taggart, a Fort Myers, Florida-based M&A firm, sheds light on the subdued M&A activity in the Home Health & Hospice (HH&H) sectors throughout 2023. While the second quarter showed a slight uptick, Q3 remained slow, raising concerns within the industry. The third quarter witnessed historically low transaction numbers, with only 23 HH&H transactions announced, a 12% decrease from Q2:23, and a 15% decrease from Q3:22, according to data captured in the LevinPro HC database. One factor contributing to the slowdown could be the anticipation surrounding the home health payment rule, which resulted in a modest 0.8% aggregate... Read More »
The Home Health & Hospice Market with Andre Ulloa and Mark Thomas
Last month, we spoke with Andre Ulloa, Partner and Executive Advisor, at M&A Healthcare Advisors for the report, The Durability of the Specialty Pharmacy Market. During that conversation, we touched on the home health & hospice (HH&H) market, and decided to return to the topic in a second part of our interview series. Below is our interview with Andre and his colleague, Mark Thomas. According to data captured in the LevinPro HC database, in 2022, there were 114 HH&H transactions, and in 2023, so far, there have only been 81. What has caused (or contributed to) this decrease in reported acquisitions? The increased cost of capital and insolvency of regional banks... Read More »
CVS Health Scores with $2.2 Billion in Q3 Profit Amid Layoffs and Acquisitions
CVS Health (NYSE: CVS) released its Q3:23 operating results on Wednesday, November 1, 2023. The company reported net income of $2.2 billion, or $1.75 per share, thanks to double-digit percentage sales growth across all the company’s businesses and contributions from its new healthcare services acquisitions. This compares to the net loss of $3.4 billion, or $2.59 per share, announced in the same quarter last year when the company recorded $5 billion in opioid-related litigation charges. The giant drugstore chain has spent nearly $20 billion this year on acquisitions. First, the company added senior primary care centers via its acquisition of Oak Street Health for $10.6 billion in February.... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
