TowerBrook & Ascension Acquire Hospice Compassus in $1 Billion Deal

TowerBrook & Ascension Acquire Hospice Compassus in $1 Billion Deal

by | Oct 7, 2019 2:04 pm | Home Health & Hospice, Hospitals, Private Equity

TowerBrook Capital Partners and Ascension have joined forces in a hospice deal worth $1 billion, or 11.8x revenue. The joint venture is buying Hospice Compassus, which provides hospice, palliative and home health care and services to patients in more than 25 states, from Formation Capital and Audax Private Equity. Towerbrook and Ascension will own equal stakes in Hospice Compassus after buying the hospice firm an auction that started in early 2019. Formation and Audax backed Hospice Compassus for roughly five years, recapitalizing the company in 2014 for roughly $300 million, according to the same report. Although it’s no surprise that PE firms are big players in the Home Health and... Read More »
MedEquities Realty Acquires Vibra IRF Assets

MedEquities Realty Acquires Vibra IRF Assets

by | Jun 28, 2018 10:02 am | Rehabilitation

Vibra Healthcare LLC has sold the real estate assets of its 60-bed Southern Indiana Rehabilitation Hospital, an inpatient rehabilitiation facility (IRF) it acquired on April 30 this year from KentuckyOne, a subsidiary of Ascension. The hospital is located in New Albany, Indiana, a suburb of Louisville, Kentucky, where KentuckyOne is based. The buyer, MedEquities Realty Trust, Inc. (NYSE: MRT), agreed to pay $23.4 million for the 64,380-square foot facility, with an average price-per-bed of $390,000. The company concurrently executed a 15-year triple-net lease of the IRF with Vibra at an initial lease rate of 9.0% with annual escalators. Vibra will convert the 26 beds currently used as... Read More »

March Added One Mega-Deal, and Saw Another One Halted

by | Apr 6, 2018 11:34 am | Hospitals

After a busy M&A month in February, with 125 deals reported, March didn’t disappoint. Preliminary results show deal volume equaled the previous month’s total. The figures look good, in the face of the recent stock market swings, the Trump administration’s talk of trade wars and cancelling trade deals. But a look back to March 2017 shows this month’s deal volume is down 19% compared with the 155 deals logged then. And that wase in the face of the Trump administration’s efforts to repeal and replace the Affordable Care Act. Check out the April issue of Health Care M&A News for the deal volume and value charts, by sector. We’re not saying this year’s healthcare market is lacking in... Read More »
Wheaton Franciscan Joins Ascension Wisconsin

Wheaton Franciscan Joins Ascension Wisconsin

by | Mar 1, 2016 9:51 pm | Hospitals

It’s final. On March 1, 2016, Wheaton Franciscan Healthcare joined the local network of St. Louis, Missouri-based Ascension. Wheaton Fransican, sponsored by the Wheaton Franciscan Sisters and Felician Sisters, has eight hospital campuses, 330 physician medical groups, outpatient centers, transitional and long-term care facilities, home health and hospice services. It became the fourth regional system that is part of Ascension Wisconsin, joining Columbia St. Mary’s, Ministry Health Care and Affinity Health System. With this transaction, Ascension Wisconsin has 27 hospitals, 114 primary care clinics, more than 24,000 associates, including more than 1,000 physicians. This... Read More »