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 »

LifePoint Takes 2 Hospitals For-Profit

LifePoint Health, Inc. (NASDAQ: LPNT) last week announced two deals for smaller community hospitals that turned the not-for-profit entities into local tax payers. One was Fleming County Hospital (52 beds) in Flemingsburg, Kentucky. The other was an acquisition conducted via a joint venture with Norton Healthcare, called Regional Health Network of Kentucky and Southern Indiana. The JV acquired 241-bed Clark Memorial Hospital in Jeffersonville, Indiana, with a capital commitment of at least $80 million over the next five years. The local county councils are thrilled to move these not-for-profits into the tax base, no doubt. Meanwhile, the mood in other parts of the country is to sue the... Read More »