Simplura Health Group Acquires Helping Hand Home Health & Hospice Agency
One Equity Partners’ (OEP) portfolio company Simplura Health Group has finalized the acquisition of Helping Hand Home Health & Hospice Agency.
Simplura is the parent company of a growing network of home health agencies. Its founding organization, All Metro Health, began providing services in Long Island, New York, in 1955, according to its website. All Metro has since expanded across New York and has acquired operations in Pennsylvania, Massachusetts, Florida and New Jersey.
Operations were brought together under the Simplura brand in 2018.
OEP is a private equity firm with $6.9 billion of assets under management focused on industrial, health care and technology sectors in North America and Europe. The company has offices in New York, Chicago and Frankfurt, Germany.
Philadelphia, Pennsylvania-based Helping Hand is a provider of non-medical home care services in the Philadelphia metro area.
“Helping Hand has an excellent reputation for delivering quality care to its clients across Philadelphia, Bucks, Montgomery, Delaware and Chester Counties,” David Middleton, president and CEO of Simplura, said in a press release. “We are pleased to welcome Helping Hand to the Simplura family and we look forward to continue building upon our service offerings together.”
Financial terms of the transaction have not been disclosed.
This is the sixth acquisition for Simplura since 2016.
Helping Hand will become a part of CareGivers America, Simplura’s Pennsylvania operations.
NHC Announces $25 Million Stock Repurchase Program
The board of directors at National HealthCare Corporation (NYSE American: NHC) has authorized a new stock repurchase program.
Murfreesboro, Tennessee-based NHC is a health care services provider in 10 states in the U.S. Its affiliates operate 76 skilled nursing centers with 9,629 beds. NHC affiliates also operate 36 home care programs, five independent living centers and 24 assisted living communities.
At a regularly scheduled meeting, the board decided to allow for the repurchases of up to $25 million of its common stock. The new plan will begin Sept. 1 and will expire on Aug. 31, 2019, according to a press release.
Addus HomeCare Announces Public Offering
Addus HomeCare Corporation (Nasdaq: ADUS) has commenced a proposed public offering of 1,075,267 shares of its common stock. Eos Capital Partners intends to also offer 1,024,733 shares.
Frisco, Texas-based Addus is a provider of home care services, including personal care services, as well as hospice and home health services. The company provides services to 39,000 consumers through 157 locations across 25 states in the U.S.
Addus will not receive any proceeds from the sale of the shares of common stock by Eos, according to a press release.
The offering is subject to market and other conditions and there can be no assurance as to whether or when the offering may be completed or as to the final size or terms of the offering. Jeffries LLC, RBC Capital Markets LLC and Raymond James & Associates Inc. are acting as joint book-running managers for the offering, according to the release.
Masonicare and St. Francis Separate on Home Care
Two home care partners are shuttering a venture formed in 2007, citing different competitive interests.
Wallingford, Connecticut-based Masonicare reported in a state labor finding that it plans to stop operations of Masonicare Partners Home Health and Hospice, which it formed 10 years ago with St. Francis Hospital and Medical Center, according to Hartford Business.
Masonicare is not-for-profit provider of health care and senior living services across Connecticut.
St. Francis is a Catholic teaching hospital in north central Connecticut.
In 2015, St. Francis became a part of a health care system, Trinity Health of New England. Masonicare and Trinity agreed to dissolve the partnership, said Margaret Steeves, Masonicare’s vice president of marketing and communications, according to Hartford Business.
Colorado Elder Care Solutions, Home Care Resources to Join Forces, Rebrand as Family Tree In-Home Care
Two home care providers—Colorado Elder Care Solutions (CECS) and Home Care Resources (HCR)—have entered into an agreement to join Family Tree In-Home Care, a Genova Health company.
Houston, Texas-based Family Tree In-Home Care is a home care agency with offices in Texas and Colorado. The company provides private duty home care and nursing services.
Littleton, Colorado-based CECS is a home care provider.
Denver, Colorado-based HCR is a private duty home care provider founded in 1996.
The CECS transaction closed on Aug. 15 and the HCR transaction is expected to close Aug. 22, according to a press release. Under the terms, CECS and HCR will merge and offer home care and care management under the Family Tree In-Home Care brand.
“Adding the years of experience and expertise at CECS and HCR to the team at Family Tree aligns with our strategy of investing in becoming the leading solution to serve clients wherever they call home,” Alex Bonetti, CEO of Family Tree and Genova Health, stated in a press release. “We’re looking forward to working with our new colleagues from both teams to further our mission of providing better care, better health, everyday.”
Hospice By the Bay to Assume Sonoma Valley Hospital Home Care Services
Sonoma Valley Hospital has agreed to transfer its home care services, Healing at Home, to Hospice By the Bay.
The hospital board held a meeting Aug. 15 regarding the proposal, according to the Sonoma Index-Tribune. The following day, the hospital announced that the agreement had been reached.
Hospice By the Bay is a not-for-profit operating in Marin, San Francisco, San Mateo and Sonoma, and the cities of American Canyon, Napa, and Vallejo. The organization offers hospice care, palliative care and grief support. Hospice By the Bay was the first hospice founded in California and the second in the U.S., according to its website.
The acquisition will be finalized in Sept. 6, according to Sonoma Index-Tribune.
Healing at Home will continue to operate under its current name.
Written by Kaitlyn Mattson