On the heels of several national home care acquisitions in recent months, Encompass Home Health’s parent company is seeking a buyer for its home health arm, according to a report from the Wall Street Journal.
Cressy & Co., the company’s parent, is seeking a purchase price of $700 million, the Wall Street Journal reports, citing three people familiar with the situation.
The owner of the at-home nursing services provider is looking to sell following several other blockbuster home heath deals, the most recent of which includes Kindred Healthcare’s acquisition of Gentiva in a deal valued at $1.8 billion.
Dallas-based Encompass Home Health Inc. operates out of more than 100 locations to provide home health, hospice, and pediatric home care to patients across 13 states, according to the company’s website, though market share is still low in a highly fragmented market.
The Wall Street Journal placed Encompass market share at 0.73% according to Health Market Science, relative to the largest provider Amedisys, which has close to 5% market share.
Neither Cressy nor Encompass responded to the WSJ’s request for comment on the matter.
According to the company’s website, Encompass was founded by April Anthony in 1998; Anthony also serves as CEO of Homecare Homebase, a Dallas-based home care technology company that sold to Hearst Inc. in December of last year.
Written by Elizabeth Ecker