Only a few weeks into 2015 and the market for home health acquisitions continues to ramp up. Today, Accelera Innovations, Inc. signed a definitive agreement to acquire Oklahoma-based Traditions Home Care Inc. for a purchase price of $6 million.
Accelera is a collaboration of companies that aims to improve the outcomes of post-acute and long-term care patients and lower costs through educating providers, leveraging technology and changing the model of payment to a value-based system.
“The acquisition of Traditions Home Care will extend our services outside of Illinois,” said Accelera’s Chairman Geoff Thompson in a written statement. “We plan to provide access to community services and grow the medical-related resources in Oklahoma.”
From its headquarters in McAlester, Okla., Traditions provides the services of home health, skilled nursing, certified home health aides, as well as physical and occupational therapists throughout the state.
By acquiring Traditions, Accelera plans to integrate the acquired assets into its existing platform and offer patients a way to self-monitor and track common ailments and conditions, while also being able to share that data with their primary care physician in efforts to facilitate ongoing communication around condition management, both online and in-person.
Both patients and physicians will will access the communication and self-tracking features via a shared permission-based and opt-in environment.
In 2013, the Traditions Home Care achieved revenues of approximately $6.3 million and is expected to generate future annual revenue increases as they are introduced into the Accelera family.
“We look forward to welcoming Traditions Home Care employees into the Accelera Group and to be able to benefit from their expertise and dedication,” said Accelera CEO John Wallin in a written statement. “Together, we will be well positioned competitively, strategically and financially to meet the evolving needs of the people we serve.”
Written by Jason Oliva