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LHC Group acquires Three Rivers Home Health
LHC Group Inc. (Nasdaq: LHCG) has expanded its reach in Georgia by purchasing the Eastman, Georgia-based Three Rivers Home Health.
Following the purchase of Three Rivers’ nine locations, LHC Group’s footprint spans 36 Georgia counties.
The acquisition is expected to create a $12 million revenue boost for the company, according to the press release.
“It is time for us to step aside and allow Three Rivers to become part of a larger organization,” Three Rivers President and founder Kaye B. Smith said in the release. “This transaction will make it possible for our employees to have greater opportunities and to continue providing the high-quality care they do every day.”
Three Rivers will still operate under the same name.
LHC Group is a home health, hospice and home- and community-based provider with 30,000 employees. The provider also offers care across 37 states and Washington, D.C.
“This is a great opportunity to serve more patients and families in Georgia with the quality in-home healthcare they want and deserve,” Keith Myers, LHC Group’s chairman and CEO, said in the press release. “Our new team members at Three Rivers have earned an outstanding reputation for the service they provide. Together, we will help ensure greater access to care in the patient’s preferred setting – their home.”
UnitedHealth Group’s (NYSE: UNH) purchase of LHC Group is still pending.
Pennant Group acquires home health, hospice provider in Southern California
This week, the Pennant Group Inc. (Nasdaq: PNTG) announced it has purchased Ardent Hospice and Palliative Care, a home health and hospice provider that offers services in Central Valley, Palm Springs and San Diego, California.
“We are very excited to expand the reach of our hospice operations in California,” Brent Guerisoli, CEO of Pennant, said in a press release. “This off-market acquisition opens the door to new service areas in Palm Springs and the Central Valley, and further strengthens our presence in San Diego.”
Brian Wayment, the president of Cornerstone Healthcare — Pennant’s home health and hospice subsidiary — pointed out that Ardent’s agencies had a hospice average daily census of about 90 patients prior to the acquisition.
“We are very excited to work with the wonderful Ardent team of skilled clinicians and compassionate caregivers who truly care about the patients and families they serve,” Wayment said.
Pennant is a holding company with a network of nearly 90 home health and hospice agencies and 50 senior living communities spread out across 14 states.
Daniel Walker recently stepped down from his role as CEO of Pennant, with Brent Guerisoli succeeding him.
Care Advantage continues to grow through M&A
The Richmond, Virginia-based Care Advantage Inc. has made its 17th acquisition since 2018, continuing its growth by purchasing Youngs Healthcare.
Care Advantage is predominantly a personal home care provider, but also has ventured into traditional home health care in the last few years. It has 24 total branch locations in the Mid-Atlantic region.
The Youngs Healthcare move is the fifth acquisition Care Advantage has made since joining forces with the private equity firm Searchlight Capital Partners in 2021.
Youngs Healthcare is an Annandale, Virginia-based home health provider that offers personal care and adult day care services.
“This has been a partnership I have been excited about forming for quite some time and for a variety of reasons,” Care Advantage CEO Tim Hanold said in a press release. “From our very first conversations, it was evident how passionate the Youngs team was about providing care for others, the enthusiasm for what they do each day was palpable. Add to that their reputation in the community they serve is second to none and they are known for delivering high-quality care for their clients. I look forward to welcoming the Youngs clients and caregivers into our care family.”
Care Advantage leaders also pointed to Young Healthcare’s diverse cultural background, as it offers services to the Korean, Chinese and Vietnamese populations in Northern Virginia.
“I know, both personally and professionally, this is an extremely positive change for Youngs, I can’t wait to see my company grow and evolve with Care Advantage’s support and expertise,” Young’s founder Young Shin Lee said. “After working directly with the Care Advantage team for the last few weeks, I know our patients and our caregivers are in the very best of hands, and our legacy of delivering excellence in home care will continue.
Humana purchases Inclusa Inc.
Humana Inc. (NYSE: HUM) has acquired the Wisconsin-based managed care company Inclusa Inc.
Inclusa offers managed care and long-term care services to about 16,600 adults with disabilities across the state.
“For decades, Humana has been focused on improving the health and wellbeing of the people of Wisconsin and we are pleased to expand both our geographic presence and the scope of services we can offer through the acquisition of Inclusa,” John Barger, Humana’s Medicaid president, said in a press release. “The long-term care services delivered by Inclusa and their contracted providers under Wisconsin’s Family Care program provide important assistance for eligible individuals that value their member-centered care model.”
Incusa has been around for 20 years, and partners with local health care providers and community resources to connect members with support and services. The company’s mission is to help eligible seniors live independently.
In 2020, Humana acquired the Wisconsin-based health care company iCare. This latest move will increase Humana’s Medicaid recipients, which now will total over one million across Florida, Illinois, Kentucky, South Carolina and Wisconsin.
Earlier this month, Humana completed its divestiture of Kindred at Home’s hospice and personal care divisions.
Netsmart acquires SNF claims data analytics offering CORE Analytics
The Kansas-based Netsmart, a health care information and technology company, is acquiring CORE Analytics from Zimmet Healthcare.
The implementation of CORE Analytics will allow Netsmart to expand data solutions and services for post-acute care organizations.
It will help the company improve its processes in reporting, benchmarking, assessment data and more, according to the press release
“The integration of the CORE solutions within the Netsmart CareFabric platform will change the way we support providers by connecting all of the solutions needed to unlock the full potential of claims data,” Zimmet Healthcare president and CEO Marc Zimmet said in a press release. “Through this collaboration with Netsmart, we can expand the capabilities of our comprehensive tools to unite the clinical, claims and staffing data to provide a holistic view of an organization. Our clients will be able to rely on the same tools and support they’ve come to expect, with the ability to leverage solutions across the Netsmart CareFabric platform.”
Mike Valentine, Netsmart’s CEO, said the two companies share a dedication to providing data solutions to equip business decisions.
“This commonality of values will further scale the Netsmart data suite to better support and help skilled nursing facilities thrive with transforming payment models,” Valentine said. “In the pursuit of organizational excellence, by combining the claims and MDS data set we can help our clients tell a complete story of the value of the care they deliver. This partnership combines the solutions to do just that.”