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Three Oaks Hospice Hits The Ground Running
Three Oaks Hospice, a portfolio company of Health Velocity Capital, was just launched in May 2019, but the company is wasting no time to expand. This week the company bought three hospices in Texas, Total Hospice & Palliative Care in Richardson; ABS Palliative in Carrollton; and Hospice Care and Fellowship Hospice in San Antonio. The acquisitions give it a presence in Dallas, Fort Worth, and San Antonio, providing more than 84,000 days of care annually. The deal also increases its referral network to more than 200 sources. To fuel future growth, Three Oaks has received more than $21 million from Granite Growth, Health Velocity Capital and Petra Capital. It’s been a slow month in... Read More »
It’s Been a Busy Summer for Addus HomeCare
Addus HomeCare Corporation (NASDAQ: ADUS) spent the summer on the acquisition trail, announcing two deals for three targets and the completion of a previously announced transaction. On August 1st, the company acquired Alliance Home Health Care, LLC and its affiliate, House Calls of New Mexico, LLC, both located in New Mexico with servicees across the state. The companies’ combined annual revenues are approximately $19 million, with 60% derived from hospice care and 20% each from personal care and home health care services. The deal expands its reach in New Mexico, following its 2017 acquisition of Options Home Care for $340 million and its 2013 deal for Coordinated Home Health Care,... Read More »
Despite Reimbursement Uncertainty, Home Health & Hospice Deals Ramp Up
The Home Health & Hospice sector hit a new high in deal volume in 2018, despite headwinds in advance of new reimbursement models and regulations being introduced by the Center for Medicare and Medicaid Services in 2019 and 2020. The strong acquisition interest in the home health and hospice business comes despite the reality that for many agencies, 90% or more of their revenues are derived from government sources, primarily Medicare. As all healthcare providers know, the only certainty is that the level of government reimbursement will change, and change is coming again effective January 1, 2020 with the new Patient Driven Groupings Model (PDGM). One of the “problems” has been that... Read More »
Oak Hill Capital Exits AccentCare
May has been a busy month for deals in the Home Health & Hospice sector with eight transactions announced midway through the month. The latest is Oak Hill Capital Partners’ sale of its post-acute care platform, AccentCare, Inc. to Advent International. Financial terms were not disclosed. Today, AccentCare is the sixth largest home health platform and the third largest personal care platform in the United States. It serves health systems, physician practices and managed care organizations, and includes strategic joint ventures and partnerships. Its range of services includes personal, non-medical care to skilled nursing, rehabilitation, hospice care and care management. Oak Hill... Read More »
Hospice Mergers Growing in North Carolina
Two not-for-profit mergers in the hospice space have been announced in recent months, both taking place in North Carolina. In early March, Hospice and Palliative Care of Greensboro and Hospice and Palliative Care of Alamance-Caswell in Burlington announced their decision to merge. The Greensboro-based not-for-profit serves Guilford County and surrounding areas. It provides home-based hospice care, operates a 14-bed hospice facility and offers a community-based palliative care service. The Burlington-based organization provides home health care, counseling for children and adults, and operates a 22-bed hospice home. The two organizations currently serve more than 3,000 hospice patients... Read More »Schedule a demo
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