Traditions adds to post-acute care platform
Traditions Health is adding to its growing post-acute care business.
The College Station, Texas-based home health and hospice provider announced a handful of new acquisitions at the start of January. Financial terms of the transactions were not disclosed.
In Oklahoma, Traditions acquired two home health agencies: Traditions Home Care and Secure Home Care. The provider likewise inked two hospice agencies in Louisiana: Grace Hospice & Palliative Care and Heritage Hospice.
The new hospice acquisitions mark the company’s initial entry into the Louisiana market.
“I am delighted to grow the Traditions family in Louisiana and to deepen our capabilities in Oklahoma through the addition of eastern Oklahoma’s premier home health agencies,” Bryan Wolfe, president and CEO of Traditions Health, said in a statement. “This announcement is a fitting way to cap off what’s been an exciting year for Traditions Health.”
Overall, Traditions — a portfolio company of PE firm Dorilton Capital — provides post-acute care services to 5,000 patients across 14 states. The provider has been particularly active in the hospice market, with seven hospice transactions since June 2020.
Help at Home lands Adaptive
Help at Home is on the M&A hunt. Its latest purchase comes just a few months after it was acquired by a consortium of private equity buyers.
Earlier this month, the Chicago-based Help at Home reportedly executed a deal for The Adaptive Group, a home health, hospice and home care services provider that operates across the state of Indiana. Financial terms of the transactions were not disclosed.
On its end, Help at Home is a home- and community-based services provider with a 13-state footprint that features 160 total locations. Centerbridge Partners and The Vistria Group teamed up to purchase Help at Home from Wellspring Capital Management in November.
Founded in 2011, The Adaptive Group is made up of Adaptive Companion Services, Adaptive Hospice, plus Adaptive Nursing and Healthcare Services. The provider has 23 locations across the Hoosier State.
“The winning combination of Adaptive and Help at Home not only means that we will be able to set the bar for high-quality care and service excellence in the state of Indiana, but also throughout the Midwest and across the broader United States,” Adaptive co-founder Mike Root said in a press release. “By partnering with Help at Home, we are better positioned to execute on our mission — to positively impact as many lives as possible through the delivery of exceptional, patient-centric home care services.”
Amedisys board approves stock repurchase plan
Amedisys Inc. (Nasdaq: AMED) announced at the end of last year that its board of directors has authorized a stock repurchase program, under which the company may repurchase up to $100 million of its outstanding common stock through Dec. 31.
The stock repurchase program gives Amedisys the green light to repurchase its common stock “from time to time, in amounts, at prices, and at such times as the company deems appropriate, subject to market conditions and other considerations.”
As of mid-day trading Thursday, Amedisys stock was listed at $291.73 per share.
Founded in 1982, the Baton Rouge, Louisiana-based Amedisys has 21,000 employees who work across 516 care centers in 39 states and the District of Columbia.
“Given our strong cashflow and low leverage, we feel it is prudent to have authorization to buy-back shares throughout the course of the year, including shares granted under the company’s Omnibus Incentive Plan as they vest in 2021,” CFO Scott Ginn said in a statement. ‘This will become a recurring part of our capital deployment strategy; however, our first priority is and will continue to be accretive acquisitions in both home health and hospice.”