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BrightSpring Merges with KKR’s PharMerica
BrightSpring Health Services and PharMerica are merging to create a national home care business with its own pharmacy services provider under KKR & Co. (NYSE: KKR). Both companies are based in Louisville, Kentucky and will continue to operate from there. Financial terms were not disclosed. BrightSpring, formerly known as ResCare, was a portfolio company of Onex Corporation (TOR: ONEX). It provides comprehensive home and community-based health services in behavioral health, digital health, hospice and homecare to complex populations in need of specialized care. Onex acquired ResCare way back in March 2004 for $83.4 million. PharMerica is a specialty pharmacy service provider for the... Read More »
Amedisys Makes a Compassionate Care Hospice Deal
There’ve been some big moves in the hospice market this year, the largest being the $1.4 billion acquisition of Curo Health Services LLC by Humana (NYSE: HUM), TPG Capital and Welsh, Carson, Anderson & Stowe back in April. Curo Health is one of the nation’s leading hospice operators providing care to patients in 245 location in 22 states. Undeterred by the competition, Amedisys, Inc. (NASDAQ: AMED) moved itself into third place in the U.S. hospice industry with its $340 million acquisition of Compassionate Care Hospice Group. The Parsippany, New Jersey-based company operates 53 locations across 24 states, and cares for approximately 3,300 patients daily. Post-closing,... Read More »
Bain Capital Builds a Home Health Platform
Bain Capital Double Impact, the impact investing business of Bain Capital, waded into the Home Health Care sector last week. The fund acquired two regional companies on both coasts in order to combine them and create a national home care platform for older adults called Arosa+LivHome. Arosa, based in Durham, North Carolina, operates Nurse Care of North Carolina and Developmental Therapy Associates. The companies provide non-medical in-home care, skilled in-home care, pediatric therapy and facility staffing throughout central and eastern North Carolina. Out in Los Angeles, LivHome offers a personalized suite of in-home care and care management solutions to residents of California, Illinois... Read More »
Talk of a Bubble in Healthcare Services Slows Some Deals
Yes, the B-word is being bandied about among deal makers these days. Talk of a bubble, particularly in healthcare services, is becoming more open. We heard it often at a recent breakfast meeting of healthcare investors, and again and again in conversations since. In May, some 130 transactions were made public, representing a 26% decline compared with April’s out-sized 175 transactions, and 8% below the 142 deals recorded in May 2017. Deals in the services sectors accounted for 56% of the month’s total, which is much lower than their share in April (62%) and the same month a year earlier (65%). It’s not just that the technology sectors are picking up some steam after a long drought,... Read More »
ResMed Adds HealthCareFirst to Home Health Solutions
Medical device maker ResMed (NYSE: RMD) is moving deeper into the Home Health & Hospice arena. The company announced its acquisition of HealthCareFirst, which provides software solutions for home health and hospice agencies. HealthCareFirst offers electronic health record (EHR) software, billing and coding services, and advanced analytics to help agencies optimize their clinical, financial and administrative processes. Financial terms were not disclosed. Pamlico Capital is the seller, having acquired HealthCareFirst in September 2012 from The Riverside Company. ResMed’s devices and software solutions help to treat and manage sleep apnea, chronic obstructive pulmonary disease... Read More »Schedule a demo
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