LHC Group finalizes hospice, palliative care purchases
LHC Group Inc. (Nasdaq: LHCG) has finalized acquisition agreements in Arizona and Oklahoma.
By doing so, the Lafayette, Louisiana-based home health, hospice and personal care services giant expands its scope of services in the Phoenix area while entering the Oklahoma hospice market for the first time.
Specifically, LHC Group has finalized its acquisition Grace Hospice in Tulsa, Oklahoma, a move expected to add annualized revenue of about $12.1 million moving forward. The purchase agreement was first announced in November.
Meanwhile, in Mesa, Arizona, LHC Group has completed its purchase of East Valley Hospice and East Valley Palliative Care. The Arizona deal, expected to add annualized revenue of about $4.8 million, was likewise first announced in November.
Overall, LHC Group’s existing hospice footprint spans more than 110 locations around the U.S. Broadly, its M&A strategy is largely focused on tri-locating home health, hospice and personal care services in key markets.
A-1 Preferred Sources acquires On The Mark Services
A-1 Preferred Sources has acquired On The Mark Services Inc. Financial terms of the deal were not disclosed.
Headquartered in Columbus, Ohio, A-1 Preferred Sources is a home health provider that cares for individuals throughout central Ohio, offering a range of in-home care services to both adult and pediatric patients. On The Mark Services is a supported-living agency that serves the same region.
With close to 50 employees, On The Mark supports adult patients with developmental disabilities across Franklin and Delaware counties. As a result of the acquisition, A-1 will be able to provide a seamless connection for its pediatric patients transitioning into adult care services, according to company leadership.
“We have these great kids we’ve been working with. We’ve seen them grow and have had caregivers with them for years, and now we can help them get out into the community as adults,” Sanjay Patel, president and owner of A-1 Preferred Sources, said in a statement. “On The Mark provides us with that foundation.”
On The Mark’s founder, Mark Stuntz, will join A-1 Preferred Sources in a new role.
“A-1 can offer our employees new opportunities by training as a home health aide and working on additional supported living sites,” Stuntz said. “Plus, the [our same] clients now have the added benefit of receiving all services from one provider.”
WelbeHealth announces rebrand
WelbeHealth — a Program of All-Inclusive Care for the Elderly (PACE) operator based in Melo park, California — is uniting all of its brands under the “WelbeHealth” name. The new branding is meant to emphasize the organization’s “cohesion across geographic areas,” according to the company.
Individual brands included programs formerly known as Stockton PACE, Pacific PACE and LA Coast PACE.
“From our shared mission and values to our remote home-based care model through the pandemic, we’ve always operated as one WelbeHealth,” founder and CEO Dr. Si France said in a statement. “Joining our programs more clearly under the WelbeHealth name will help us convey this unity to our participants and our communities.”
Effective Jan. 1, the organization’s programs will operate formally as WelbeHealth Sierra PACE, WelbeHealth Pacific PACE, WelbeHealth Coastline PACE and WelbeHealth Sequoia PACE.
PACE is a Medicare and Medicaid program that provides comprehensive medical and social services enabling older adults to live in the community instead of a long-term care facility.
Similar to other PACE operators, WelbeHealth shifted to a mostly remote home-based care model at the onset of the COVID-19 pandemic. Traditionally, PACE models have often revolved around a center or hub, with wrap-around services also delivered in the home.
New Town Square location opens in Florida
There is a new Town Square location opening in the Sunshine State.
Town Square, pioneered by the George G. Glenner Alzheimer’s Family Center, is the center-based, reminiscence-therapy franchising model launched out of Senior Helpers.
Florida TS1 LLC, a franchisee of Town Square, will bring the concept’s first Florida location to Sarasota, having signed an 11,120-square-foot lease in the Oaks Plaza shopping center. Town Square Palmer Ranch, expected to open this summer, will be a 1950s-themed day center for seniors with Alzheimer’s and dementia.
Similar to other Town Square locations, the new facility will have a diner, theater, library, pub, city hall, health club and other storefronts. That’s on top of core care offerings.
Currently, Town Square concepts are open in Perry Hall, Maryland, and San Diego, California, with other locations expected to open soon in six other cities across the U.S.
Senior Helpers CEO previously described the Town Square model as an effective and affordable alternative to one-to-one home care for certain individuals.
“You have the 30, 40 or 50 million people who are in the [middle market] and might not have the money to pay for home care at $25 or $26 dollars an hour,” Ross previously told Home Health Care News. “They don’t qualify for Medicaid. They are not a veteran or a long-term care insurance policyholder. What do you do for them? I think Town Square offers that group a care option.”