Compassus Expands Footprint with Hospice Advantage Acquisition
Community-based hospice company Compassus has acquired Hospice Advantage, an operator focused on end-of-life care, in a deal that allows the company to enter markets in three new states.
The transaction, announced last week, expands Compassus’ footprint to 150 locations in 28 states to serve more than 30,000 patients and their families each year, according to a news release. The financial terms of the deal were not disclosed, and representatives with Compassus didn’t immediately respond to Home Health Care News’ request for further information.
“The joining of Compassus and Hospice Advantage offers a compelling opportunity to build on the progress of each company to create a leading organization focused on the highest quality hospice, palliative and post-acute care services in the United States,” Compassus CEO Jim Deal said in a prepared statement.
The acquisition increases Compassus’ locations by 60, up from 90 in 25 states following the purchase of Life Choice Hospice earlier this year. The addition of Hospice Advantage brings Compassus services into Indiana, Minnesota and Wisconsin for the company’s first time.
As part of the deal, Hospice Advantage President Rod Hildebrandt will join the Compassus executive team, according to the release. Deal will remain as CEO of Compassus, which is based in Nashville, Tennessee.
The Compassus transaction follows several others involving home health and hospice care in recent months, including Qualcomm’s purchase of Capsule Technologie in September and LHC Group’s acquisition of Halcyon Hospice, finalized last week.
Written by Kourtney Liepelt