Catch up on the latest business deals shaping the home health and personal care industry:
Amedisys Adds Coverage Area in Kentucky
Baton Rouge-based Amedisys Inc. (Nasdaq: AMED) has acquired the right to operate in 10 counties in western Kentucky from Christian Care Communities, the state’s largest faith inspired provider of senior living, long-term care and Alzheimer’s disease and dementia support.
Under terms of the deal, Amedisys—one of the largest U.S. home health providers, operating in 34 states—acquired the right to operate in six new certificate of need (CON) counts and four overlapping counties in the region.
The counties will be served by existing Amedisys agencies in Owensboro and Bowling Green, Kentucky, which earned 4 and 4.5 stars, respectively, from the Centers for Medicare & Medicaid Services (CMS) for quality of patient care.
Stoneridge Partners provided sell-side advisory services to Christian Care Communities in the transaction.
Executive Care Expands to Virginia
Executive Care, a New Jersey-based home care franchise company, has signed a development deal to bring care to Virginia, slated to open early 2018. The deal is the first one in Virginia for the company and will service the Richmond area.
Tim Hayes, of Richmond, Virginia, signed the development deal; he previously worked in logistics and supply chain management for nearly 20 years.
Executive Care currently has 22 open offices in 11 states with several additional locations in various developmental stages throughout the country. CEO Leonard Verkhoglz estimates Executive Care could have between eight and 10 more offices in Virginia in the future.
Homewatch CareGivers Opens Two New Offices
Homewatch CareGivers, a home care franchise company with 200 units across 34 states, has opened two new offices—one in Neptune City, New Jersey, and one in Houston.
In Neptune City, the new office—Homewatch CareGivers of Ocean Grove—is owned by Kathy McBain, formerly an accounting and finance professional in the media, manufacturing and banking industries.
In Houston, the new office will service the Houston Galleria area. Sam and Ellen Moreton are the owners of the location. Sam has an engineering degree and MBA, and a background in energy marketing. Ellen has been a volunteer in many leadership roles in Houston for over 20 years.
Written by Amy Baxter