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Home Health & Hospice M&A Rebounds
There’s nothing sleepy about the Home Health & Hospice sector. Through the end of July 2016, this market has seen 35 transactions, putting this year on track to beat 2015’s total of 51 deals. Eleven of these 35 deals disclosed prices, totaling approximately $610 million spent so far this year. Sixty-percent of 2016’s home health & hospice acquirers have been other home health & hospice companies, with the busiest players being LHC Group (NASDAQ: LHCG) and privately held Jordan Health Services with two and three acquisitions, respectively. Five separate private equity firms announced five acquisitions, and Kindred Healthcare (NYSE: KND) announced four acquisitions in this... Read More »June 2016 M&A Results Show Strength
Uncertainty is the hobgoblin of the merger and acquisition markets, and the month of June was a high point (or low point, depending on your perspective) for anxiety in global financial markets. Still, the healthcare deals kept rolling in. Our preliminary total for June 2016 stands at 115 transactions, exactly equal with the same month a year ago. Compared with May’s total of 141 deals, though, June’s total does look as if someone is applying the brakes. It takes 12 months to make a year, though, and one month’s results do not create a trend. The digital health sector turned in the strongest gain compared with June 2015, when only two deals were announced. This June, 22 deals were announced... Read More »Kindred Expands in Arkansas
Kindred Healthcare (NYSE: KND) is at it again. The Louisville, Kentucky-based long-term care company announced its acquisition of a broad portfolio of home health, hospice and personal care services under the aegis of the Arkansas Department of Health. Kindred won a state bidding process with a bid of $39 million. The targets include 74 home health locations serving 69 counties in the state, seven offices providing hospice services in 42 counties, and its personal care services business that assists patients with daily living activities. The transaction will expand Kindred’s services from six offices providing home health and hospice in four counties to offices providing home health,... Read More »LHC Group Adds Two Home Health Companies
LCH Group (NASDAQ: LHCG) added two more companies to its empire of home health, hospice, community-based services agencies and long-term acute care hospitals (LTACs). Professional Healthcare Resources in Annadale, Virginia and East Arkansas Health Holdings in Little Rock, Arkansas are now part of the fold. They are expected to produce annualized revenues of approximately $44 million, which consists of $23.3 million in home health revenue, $5.1 million in hospice revenue and $15.6 million in community-based services revenue. PHR delivers a wide range of home healthcare services, including skilled nursing, therapy, personal care services and hospice. Its licensed service area covers a... Read More »Home Health & Hospice Deals, 2006 to 2015
The M&A bubble burst in this sector in 2015. At least part of the slow down stemmed from Kindred Healthcare’s (NYSE: KND) $1.8 billion acquisition of Gentiva Health Services in the fourth quarter of 2014. Kindred spent much of 2015 integrating Gentiva’s assets and operations, and didn’t announce a single acquisition all year. Another factor is that valuations were still high in 2015, after a very busy 2014. Amedysis Inc.’s (NYSE: AMED) acquisition of Infinity HomeCare was one of the few deals that reported a price, $63 million, and the target’s financial information. The resulting multiples were 1.3x revenue and 9.8x EBITDA. Read More »Schedule a demo
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