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ResCare Switches to ‘Home Health Lite’
ResCare Inc., a portfolio company of Onex Corp. (TSE: ONEX), is changing the direction of its home health segment. ResCare, the nation’s largest private provider of services to people with disabilities, has been divesting its home health assets since 2014. A recent 10-K filing by Onex Corp. stated that ResCare was exiting the skilled line of business in the home care segment and transitioning to home health services without the skilled nursing. The exit resulted in a 2% decrease in revenue between 2015 and 2016, which was substantially offset by acquisitions within the home care and residential services segments, according to the filing. On April 10, 2017, Active Day/Senior Care... Read More »2016 Home Health and Hospice Deals Picked Up
After a rough 2015, when the M&A bubble burst in this sector, deal volume in 2016 showed signs of recovery. Fifty-seven deals were announced in 2016, a 12% increase compared with the previous year. A few companies accounted for several deals. Jordan Health Services, a portfolio company of Palladium Equity Partners, led with five transactions. Epic Health Services, a portfolio company of Webster Capital, announced four deals, as did Kindred Healthcare (NYSE: KND). The latter company surprised many observers with its announcement that it was leaving the skilled nursing space to concentrate more on long-term acute care hospitals and home health and hospice agencies. We expect at least a... Read More »Amedisys Adds Six Tenet Home Health Centers
Shortly after reporting improved cash flow on its Q4:16 earnings call, Amedisys, Inc. (NASDAQ: AMED) went on a short spending spree. The company picked up six home health and hospice centers from Tenet Healthcare (NYSE: THC), located in Arizona, Illinois, Massachusetts and Texas. No financial terms were disclosed. Despite potential headwinds from the Republicans’ proposed American Health Care Act (AHCA), still in the House of Representatives, the Home Health & Hospice sector is expected to see strong growth in the coming years. Baby boomers are aging, inevitably, and many are expected to attempt to age-in-place at home, boosting demand for these services. Amedisys’... Read More »
Strategic vs. Financial Healthcare Buyers in 2016
Every spring, we publish myraid statistics on the healthcare services deals announced the year before, in the form of The Health Care Services Acquisition Report. This year’s 23rd edition, which will available in late March, has this examination of what financial buyers targeted in 2016. Strategic buyers continued to dominate the health care services M&A market in 2016, as they have in the past. Their 683 deals made up 73% of the year’s deal volume. The $45.7 billion spent accounted for 63% of the combined total of $72 billion. A total of 259 deals, or 27% of the services deal volume in 2016, were carried out by financial buyers, such as private equity firms and real estate... Read More »Hospitals Are Buying in to Home Health
One anticipated trend that did not come to fruition in 2016 was hospitals entering the home health & hospice space. The advent of bundled payments placed tremendous emphasis on providers to control the patient engagement from start to finish, making it almost imperative for health systems to secure post-acute care providers in the home health and rehabilitation sectors. In 2012 and 2013 combined, there were only two deals involving a hospital purchasing a home health & hospice company. In 2014 and 2015, there were just two deals each year, and in 2016 we saw three. However, in the first month of 2017, three hospital groups have purchased home health & hospice companies.... Read More »Schedule a demo
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