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CVS Health Scores with $2.2 Billion in Q3 Profit Amid Layoffs and Acquisitions

CVS Health Scores with $2.2 Billion in Q3 Profit Amid Layoffs and Acquisitions

by | Nov 3, 2023 10:35 am | Healthcare Market Updates, Home Health & Hospice, Other Services

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 »
The Pennant Group acquires Guardian Hospice in Texas and Oklahoma

The Pennant Group acquires Guardian Hospice in Texas and Oklahoma

by | Nov 3, 2023 10:29 am | Home Health & Hospice

The Pennant Group Inc. has announced its acquisition of Guardian Hospice of Texas and Guardian Hospice of Oklahoma for an undisclosed amount.  Guardian Hospice of Texas is a senior living provider in Sherman, Texas that offers residents hospice care. The company provides skilled hospice services in the Grayson, Fannin, Collin, Cook, Denton and Hunt counties in Texas.  Guardian Hospice of Oklahoma received Medicare certification in 2015. The company is located in Calera, Oklahoma and offers hospice services across the Bryan, Choctaw, Atoka, Pushmataha, Johnston, Coal, Marshall, Murray, Pontotoc and Love counties in Oklahoma.  The Pennant Group is a holding company of... Read More »
Honor Health Network Acquires Home Health & Hospice Practice  

Honor Health Network Acquires Home Health & Hospice Practice  

by | Nov 1, 2023 3:51 pm | Home Health & Hospice

On November 1, Honor Health Network, based in Ridgefield Park, New Jersey, announced it acquired Nightingale Services, Infusion, and Pharmacy.   Provident Healthcare Partners advised Nightingale Services, Infusion, and Pharmacy in the transaction. Bouhan Falligant served as legal counsel to Nightingale and Goodwin Procter served as legal counsel to Honor Health Network.  Nightingale Services, Infusion, and Pharmacy is a comprehensive home care provider which has been serving Georgia since its inception in 1987. The company offers skilled nursing, infusion services, pharmacy, structured family care and personal care services at 11 locations across Georgia and services patients in... Read More »
PE-Backed Avid Health at Home Acquires Independence 4 Seniors

PE-Backed Avid Health at Home Acquires Independence 4 Seniors

by | Oct 31, 2023 11:45 am | Home Health & Hospice

Havencrest Capital Management, a Dallas-based healthcare private equity firm, announced on October 30 an acquisition under its Avid Health at Home platform: Independence 4 Seniors based in Hinsdale, Illinois.  Independence 4 Seniors is a home care provider in the Chicago MSA. The company has provided personalized home care for older adults in DuPage County and Western Cook County since 2002.  Avid Health at Home is a home care platform providing personal care and private-duty nursing services across seven locations in the Chicagoland area and North Carolina. Avid Health at Home was formed by private equity firm Havencrest Capital Management through its acquisition of For Papa’s... Read More »
Intrepid Advises Prime Providers on Its Acquisition of Right Choice In-Home Care

Intrepid Advises Prime Providers on Its Acquisition of Right Choice In-Home Care

by | Oct 3, 2023 10:59 am | Home Health & Hospice, Private Equity

Intrepid Investment Bankers announced on October 3 that it served as exclusive financial advisor to Prime Provider on its acquisition of Right Choice In-Home Care. Intrepid structured and negotiated a financing package from Firmament, a New York-based investment firm, to support this acquisition.  Right Choice In-Home Care serves Canoga Park, California and the surrounding area. Right Choice provides personal care and respite care services to patients with intellectual and developmental disabilities in California.  Prime Providers is a home healthcare platform founded in 2018 by Pine Street, an investment firm led by Jonathan Sassover and Michael Davidov.  The combined... Read More »
PE-Backed Avid Health at Home Acquires Independence 4 Seniors

Navigating Labor Headwinds in Home Health

by | Oct 2, 2023 3:48 pm | Healthcare M&A News Leads, Healthcare Market Updates, Home Health & Hospice

More than three-quarters of Americans ages 50 and older want to age in place, according to an AARP survey. This comes as The U.S. Administration on Community Living projects the number of Americans aged 65 and older will rise to 80.8 million by 2040, creating significant demand for home health delivery models in the United States. But now, with the HH&H sector approaching a projected global shortage of 10 million health workers by 2030, according to the World Health Organization, the labor issues we’re already seeing in the space are only going to worsen.  The labor issues have profound implications for M&A activity within the sector. According to LevinPro HC data, deal volume in... Read More »