M&A and Financing Newsflash: Great Lakes, Jordan, National Home Health Complete Mega Merger

Great Lakes Caring, National Home Health Care and Jordan Health Services Complete Combination 

Michigan-based Great Lakes Caring, Connecticut-based National Home Health Care and Texas-based Jordan Health Services have completed their previously announced deal, finalizing the creation of one of the largest home-based care providers in the United States.

The combined company brings together three market leaders that operate across the continuum of care in the personal, skilled home health and hospice spaces. The new company will serve more than 63,000 patients, employing more than 31,000 caregivers across 221 locations in more than a dozen states.

Combined revenues of Great Lakes Caring, National Home Health Care and Jordan Health Services exceed $1 billion annually. National Home Health Care CEO G. Scott Herman, who was also previously president of Jordan Health Services, will serve as the newly formed enterprise’s CEO.

“We are now one of the largest home-based care providers in the United States,” Herman said in a statement. “By establishing a full continuum of in-home care services through this combination, we believe we will significant improve clinical outcomes and enhance patient experience.”

Private equity firms Blue Wolf Capital Partners and Kelso & Company will own the combined entity.

Aveanna Healthcare Acquiring Premier Healthcare Services

Atlanta-based pediatric home care provider Aveanna Healthcare has entered into a definitive agreement to acquire Pasadena, California-based Premier Healthcare Services, LLC. Financial terms of the transaction were not disclosed.

Privately-owned Aveanna has about 30,000 caregivers and more than 33,000 patients in its network. It operates in 200 locations across 23 states, providing hourly skilled home health and behavioral health benefit administration services to medically complex pediatric patients and their families.

Premier Healthcare provides pediatric services to patients in California, Colorado and Texas. The acquisition will allow Aveanna to provide quality care across additional markets, Rod Windley, executive chairman of Aveanna, said in a statement.

Aveanna’s acquisition of Premier Healthcare is expected to close in June.

Edge Healthcare Partners served as Aveanna’s financial advisor; Lincoln International, LLC served as Premier’s.

MatrixCare Partners with Attendance on Demand

Bloomington, Minnesota-based MatrixCare—one of the largest long-term, post-acute technology providers in the country—is partnering with Attendance on Demand, Inc., a time and labor management solutions provider based in Northville, Michigan. Attendance on Demand will provide MatrixCare with “a high-quality, cloud-based solution to meet their customers’ performance goals, compliance requirements and variable-hour scheduling challenges,” according to the companies.

MatrixCare software is used in more than 13,000 facility-base care settings and throughout 2,500 home care and hospice agencies. MatrixCare’s TimeTracker from Attendance on Demand, for example, is a tool for the long-term are industry that supports resident care while managing labor costs and regulatory requirements.

Attendance on Demand delivers cloud-based time and labor management software to thousands of businesses across North America.

Encompass Health Reaches Sponsorship Deal

Encompass Health Corp. (NYSE: EHC) is sponsoring the American Heart Association (AHA) and American Stroke Association’s (ASA’s) “Together To End Stroke” campaign. The sponsorship is part of a three-year commitment that will begin in January, following the end of Encompass Health’s national rebranding initiative.

Encompass Health, formerly known as HealthSouth Corp., offers facility- and home-based patient care through its network of more than 120 hospitals and more than 260 home health and hospice agencies across 36 states. It also operates in Puerto Rico. Encompass Health’s home office is located in Birmingham, while its home health and hospice segment is headquartered in Dallas.

The AHA-ASA “Together To End Stroke” campaign is a national initiative to better educate Americans about stroke prevention and treatment. Encompass Health will work with the health organizations to boost local awareness through provider, patient and community outreach. Among its focuses, the campaign will work to promote evidence-based rehabilitation in order to increase independence and transition more patients back to their communities.

In 2017, Encompass Health rehabilitation hospitals served more than 30,000 stroke patients, according to the company.

Written by Robert Holly