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Humana Doubles Down on Hospice Services
Humana Inc. (NYSE: HUM) is moving more deeply into hospice care with its recent announcement that it will acquire Philadelphia-based Enclara Healthcare from Consonance Capital Partners and Enclara management. Enclara is one of the largest hospice and pharmacy benefit management (PBM) providers in the country, serving 450 hospice providers and 97,000 hospice patients daily. This deal includes mail-order pharmacy Enclara Pharmacia, specialty PBM GuidantRx and pharmacy Avanti Health Care Services. Enclara’s palliative care provider, Turn-Key Health, is not included. Consonance first invested in Enclara in 2014 and added ExcelleRx, PGM Holdings and Avanti Health Care Services in the... Read More »
DFW Home Health Adds Fourth Home Health Agency
DFW Home Health, a Dallas-based home health provider jointly owned by LHC Group (NASDAQ: LHCG), Texas Health Resources and Methodist Health System, acquired Healthcare Resources, a home health provider serving patients and families in Arlington, Texas. Healthcare Resources offers skilled nursing, physical therapy, occupational therapy, speech therapy, medical social services, home health aides and other specialty services. Its name will be changed to DFW Home Health Arlington. This deal marks the expansion of DFW Home Health’s footprint to four locations across the Dallas-Fort Worth MSA, including in Dallas, Fort Worth and Denton, Texas. DFW provides in-home healthcare services for 25... Read More »
Hospice Deals Heat Up
It’s been a busy year in the Home Health & Hospice sector. Deal volume is poised to surpass the record 85 transactions announced in 2018. Through late November, 79 deals are in our DealSearchOnline database and more are expected before year-end. Home health agencies account for the bulk of the transactions every year, making up 72% in both 2015 and 2016, for example. In the past two years, however, hospice companies have seen a surge in investor interest. In 2018, hospice companies accounted for 33% of the 85 deals in the sector. Through the end of November 2019, they make up 38% of the sector’s deal count. Valuations are often described as “frothy” for home... Read More »
LHC Group and LifePoint Health JV Strike Again
After a quiet year on the acquisition front, LHC Group (NASDAQ: LHCG) and LifePoint Health have expanded their joint venture (JV) into three new states. The purchase includes CMH Home Health Care in Wilmington, Ohio, Casa de la Paz Hospice in Sierra Vista, Arizona, and St. Joseph Family Hospice in Lewiston, Idaho. LHC Group will assume management responsibility for the agencies, which will continue to operate from their current locations and under the same names. LHC expects approximately $3.6 million in annualized revenue from this expansion and anticipates that it will not materially affect its 2019 diluted earnings per share. LHC Group and LifePoint Health formed the partnership to... Read More »
Home Health & Hospice Sector Deals Dipped in Q3:19
Deal volume in the home health and hospice sector dipped slightly in the third quarter of 2019, down 23% with 20 publicly announced transactions, compared with 26 acquisitions in the second quarter, according to data from HealthCareMandA.com. Compared with the third quarter of 2018, home health and hospice M&A activity decreased by 20%, when 25 acquisitions were announced. Six of the transactions disclosed prices in the third quarter of 2019, for a combined total of nearly $1.2 billion. In the same quarter of 2018, the total dollar value based on disclosed prices was just $7.2 million. Of the 20 transactions announced in the third quarter, 35% were announced by private equity firms or... Read More »Schedule a demo
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