Three Oaks Hospice Hits The Ground Running

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

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 »
Home Health & Hospice Deals Up 50% in Q1:18

Home Health & Hospice Deals Up 50% in Q1:18

After three straight quarters of relatively low home health and hospice merger and acquisition activity, the first quarter of 2018 saw 21 publicly announced transactions. This was a 50% increase from the fourth quarter of 2017 (14 transactions), but just a 5% increase from the year-ago quarter (20 transactions), according to new data from HealthCareMandA.com. Only three of the 21 transactions in this year’s first quarter disclosed a price, and the total was a small $46.1 million. This was similar to last year’s first quarter total of $20.9 million, but not comparable to last year’s fourth quarter when nearly $4.1 billion was announced encompassing just two acquisitions. During the first... Read More »