Transactions: Family Tree Grows in Texas, Traditions Adds Hospice
Family Tree In-Home Care Acquires CareTemps
Houston-based Genova Health, LLC has added CareTemps, LLC, a home care and care management services company, to its family of companies. Genova Health’s portfolio company is Family Tree In-Home Care, a home care agency with four offices in Houston, Austin, The Woodlands, and Clear Lake, Texas.
Family Tree closed on the acquisition of all of the assets of CareTemps. The combined company operates under the Family Tree In-Home Care name, and the entire CareTemps team and management have joined Family Tree.
The acquisition is part of Family Tree’s strategy to add leaders with significant home care expertise to the company in the markets it serves. CareTemps was founded more than 20 years ago by Marilyn Drane, a certified geriatric care manager and advocate for seniors in Houston.
Financial terms of the transaction were not disclosed.
Traditions Healthcare Holding Co. Acquires ProCare Hospice Corp.
Traditions Healthcare Holding Company, LLC, a portfolio company of Dorilton Capital Advisors LLC, has acquired ProCare Hospice Corp., a hospice services provider based in Oxnard, California.
Traditions Health Care is a home health and hospice provider, offering skilled nursing, therapy services and physical and spiritual end-of-life care. The company has nine locations throughout Texas, and the acquisition marks the first regional expansion for Traditions.
Advanced Home Care Adds Home I.V. Care and Nutritional Services
Advanced Home Care, a not-for-profit, hospital-affiliated home health care company with more than 30 branch locations in Georgia, North Carolina, South Carolina, Tennessee and Virginia, has merged with Home I.V. Care and Nutritional Services.
Home I.V. is based in Waynesboro, Virginia, and serves infusion and enteral patients in Virginia and surrounding states.
The Braff Group originated the transaction and served as the exclusive mergers and acquisitions advisor to Home I.V. Care and Nutritional Services.
Nevada-based Kindred Hospice Acquired by Nathan Adelson Hospice
Nathan Adelson Hospice, the largest non-profit hospice in Nevada, has entered an agreement to acquire Kindred Hospice, based in Southern Nevada. The organization is owned by Kindred Healthcare (NYSE: KND).
The transaction is expected to close by March 1, 2018. The details of the deal are still being finalized, according to a press release.
The deal comes as Kindred Healthcare is undergoing a major deal to be acquired by Humana (NYSE: HUM).
Nathan Adelson Hospice has been operating since 1978 and serves an average of 400 hospice and palliative care patients daily.
Written by Amy Baxter