AccentCare, a home health and hospice provider with about 140 locations in 11 states, has entered Mississippi for the first time by acquiring Sta-Home Home Health & Hospice.
Based in the state capital of Jackson, Sta-Home describes itself as Mississippi’s largest home health provider, serving about 19,000 patients each year. The acquisition by AccentCare was effective as of March 31. The acquisition price was not disclosed.
Sta-Home is an excellent platform to bring AccentCare into Mississippi, given the company’s scale and penetration with the state’s acute care hospitals and physician practices, AccentCare CEO Steve Rodgers told Home Health Care News.
“For us, it represents a great opportunity, with lots of upside growth,” he said.
That growth likely will come in the downstate, Gulfport area where Sta-Home currently has less market share. Mississippi is a certificate-of-need state, so the acquisition is strategic from that standpoint as well, Rodgers added.
Sta-Home will retain its brand name. The current leadership and staff will remain in place, although President and CEO Vincent Caracci will step down; Barry Davis, formerly Sta-Home’s chief information officer, now will be regional vice president and general manager for Mississippi.
“Finding a company aligned with our culture and mission was important to me,” Caracci said a press release. “In AccentCare we not only found a company that aligns with our mission, but one that also brings the resources to help Sta-Home better serve our community.”
The Caracci family founded Sta-Home in 1976. In 2014, the company became employee-owned through an Employee Stock Ownership Plan (ESOP). AccentCare purchased the company from this ESOP.
In addition to Mississippi, AccentCare serves Arizona, California, Colorado, Georgia, New York, Ohio, Oregon, Tennessee, Texas, and Washington. The company has been in growth mode, acquiring two Texas agencies, effective Jan. 1, 2017.
In July 2015, AccentCare struck a joint venture agreement with the University of California-San Diego Health System. That created a jointly owned home health agency to provide a post-acute continuum of care for patients in the UCSD Health System. UCSD provides clinical oversight while AccentCare—which offers personal care, skilled care, rehab, hospice, and care management—provides day-to-day operational management of the agency.
Written by Tim Mullaney