St. Croix Hospice Sold to H.I.G. Capital
St. Croix Hospice now has a new owner. The Oakdale, Minnesota-based hospice provider was sold by The Vistria Group to fellow private equity firm H.I.G Capital. According to sources cited in PE Hub, the deal was valued at $580 million. St. Croix Hospice is a leading provider of hospice care across the midwestern United States, serving an area that covers six contiguous states. The Vistria Group and St. Croix Hospice partnership started in October 2017 after the private equity firm purchased a majority stake in St. Croix from Clearview Capital Fund III, LP. Vistria and St. Croix’s first acquisition came in 2019 when they purchased... Read More »
LHC Group and Christus Health Joint Venture Expands in Texas
The joint venture between LHC Group (NASDAQ: LHCG) and Christus Health has acquired a hospice provider in Texas. The home health giant and non-for-profit health system added Santa Rosa Hospice, a hospice provider in the San Marcos metro area, which includes the Austin market. Once the agreement is finalized, the LHC Group and Christus partnership will include 22 home health, hospice, palliative care, community-based and long-term acute care locations across three states. The deal is expected to close on November 1, 2020. No terms were disclosed. LHC Group and Christus first partnered up in August 2017, according to search results in the HealthCareMandA.com Deal Database. The two companies... Read More »
Simplura Health Group Sells for $575 Million
The Home Health & Hospice sector had a jolt of activity last week. One Equity Partners is selling its portfolio company, Simplura Health Group, to The Providence Service Corporation (NASDAQ: PRSC) for $575 million. The Providence Service Corporation, through its wholly-owned subsidiary LogistiCare Solutions, LLC, is the nation’s largest manager of non-emergency medical transportation programs for state governments and managed care organizations. Providence Service Corporation is acquiring a 100% interest in Simplura. Simplura Health Group operates a large network of home health and personal care agencies across Connecticut, Florida, Massachusetts, New Jersey, New York,... Read More »
A Busy Week for Home Health & Hospice Deals
It was a busy week for home health & hospice (HH&H) transactions. Results from our Deal Search Online database show there were four announced last week alone, half of September’s total so far. Half of the deals were completed by private equity-backed companies, which highlights the continued interest in HH&H from PE firms. Jet Health, Inc., a portfolio company of Health Enterprise Partners, kicked off the week by announcing the acquisition of Texas-based Carrington Hospice Care, Inc. Jet Health acquires and operates home health care companies, which offer skilled nursing care, physical, speech and occupational therapy, rehabilitative care, medical social services,... Read More »
Bristol Hospice Adds California-based Hospice
Bristol Hospice, a portfolio company of Webster Equity Partners, is now the leading hospice provider in California, adding Health Essentials, LLC (d/b/a Remita Health) for an undisclosed sum. SV Health Investors, Petra Capital Partners and Bessemer Ventures are all selling Remita Health in this acquisition. Remita Health provides compassionate hospice and palliative care at six hospice care locations across Arizona, California and Nevada. With the addition of Remita Health, Bristol Hospice will become the leading hospice provider in the state of California (the largest hospice market in the U.S.) by adding four service locations in Orange County, Northern Los Angeles, Central Los Angeles,... Read More »Schedule a demo
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